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

DUBLIN--()--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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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900