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.
- 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.
- 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
- Carnival Corporation
- Royal Caribbean
- Norwegian Cruise Line
- Virgin Voyages
For more information about this report visit https://www.researchandmarkets.com/r/w5b8kh.
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INDUSTRY KEYWORD: CRUISE TRAVEL
SOURCE: Research and Markets
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PUB: 04/17/2020 05:00 AM/DISC: 04/17/2020 05:01 AM