COVID-19 impact on the global cruise industry: financial performance evaluation
COVID-19 hit hard global shipping and fragmented the fastest-growing branch of the shipping-tourism industry, cruising. The sudden decline in demand and profits observed led to negative financial values. Significant numbers as the average gross profit margin, of -250%, represent the advent of the pa...
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| Main Authors: | , |
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| Other Authors: | |
| Language: | English |
| Published: |
2023
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| Subjects: | |
| Online Access: | http://hdl.handle.net/11610/25583 |
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| Summary: | COVID-19 hit hard global shipping and fragmented the fastest-growing branch of the shipping-tourism industry, cruising. The sudden decline in demand and profits observed led to negative financial values. Significant numbers as the average gross profit margin, of -250%, represent the advent of the pandemic and the losses in the cruise industry. For the great restart of the cruising industry, companies were forced to implement increased safety regulations and protocols for the safety of the passengers and crew. This study aims to examine the pandemic’s financial magnitude on the cruise industry and how they should manage and assess previous projects, investments, orders, and pricing strategies effectively. Also, the present study aims to describe the mandatory and constantly changing legal framework that is applied onboard to enhance safety and investigate the financial impact. The method used is data mining and content analysis. Also, there will be displayed outcomes as qualitative and quantitative information assessment, grouping, classification, and comparative analysis are also used. |
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