Impact of COVID-19 on the Global Cruise industry: Compare Key Industry Players’ Actions - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Apr 17, 2020--

The “Impact of COVID-19 on the Global Cruise industry: Hot Topic Brief - Issue 1” report has been added to ResearchAndMarkets.com’s offering.

COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and the cruise industry is being greatly impacted.

Key Highlights

• Many operators have temporarily suspended all voyages, with many others cancelling a number of cruises. This comes in an unprecedented week for the industry, as share prices have plummeted. Carnival’s stock has dropped by nearly 60% while Royal Caribbean and Norwegian have lost more than 70% of their value over the past 30 days.
• The influence of the cruise industry is far reaching. Many small island nations rely heavily on the jobs and cash flow that ships provide.
• According to Skift, the cruise industry contributes $2 billion to the Caribbean each year.
• This results in a 5.9% contribution to some nations’ entire GDP, as is the case with St Kitts and Nevis.
• A fall in cruise tourism could be disastrous for these kinds of countries and the many people that rely on tourism for their livelihoods.
• The short term goal for cruise businesses at this stage is undoubtedly survival. This will most likely mean obtaining loans or government intervention to keep companies afloat.
• Long term, businesses have to deal with the disastrous reputational damage that has been caused over the past few weeks.
• One thing is for certain, the cruise industry faces a long struggle to ensure its survival.

Scope

• This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that cruise lines can take to mitigate the impact of COVID-19.

Reasons to Buy

• Gain an overview of the current global COVID-19 situation
• Understand the impact that COVID-19 is having on the industry
• Explore future industry scenarios
• Assess possible mitigating actions
• Compare key industry players’ actions

Key Topics Covered:

• Analyst’s Overview
• Current COVID-19 Situation
• Industry Impact
• Future Scenarios
• Actions to mitigate the impact of COVID-19
• References

Companies Mentioned

• Carnival Corporation
• MSC
• Royal Caribbean
• Norwegian Cruise Line
• Virgin Voyages

For more information about this report visit https://www.researchandmarkets.com/r/w5b8kh.

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KEYWORD:

INDUSTRY KEYWORD: CRUISE TRAVEL

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 04/17/2020 05:00 AM/DISC: 04/17/2020 05:01 AM

http://www.businesswire.com/news/home/20200417005169/en