Consider This from NPR COVID Nearly Sunk the Cruise Industry. Now it's Trying to Make a Comeback.
Aug 16, 2023
Tom Hudson, a WLRN reporter, dives into the complex journey of the cruise industry as it attempts to rebound from the pandemic. He discusses how COVID's decline has led to a resurgence in cruising, despite the emergence of the new EG.5 variant. Hudson highlights innovative strategies, like 'diplomatic pricing,' that cruise lines are using to attract passengers, especially younger ones. With growing optimism and a rise in bookings, the industry is navigating its way back from one of its biggest challenges.
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Diamond Princess Quarantine
- Thousands of passengers were quarantined on the Diamond Princess cruise ship in February 2020.
- This incident, with the largest number of COVID cases outside China at the time, severely impacted the cruise industry.
Cruise Industry Rebounding
- Despite the pandemic's impact, the cruise industry is rebounding stronger than anticipated.
- Cruise lines like Royal Caribbean and Carnival are reporting record bookings and increased profits.
Improved Efficiency
- Cruise lines have improved operational efficiency and revenue management.
- This allows for strategic pricing and better profits, according to stock analyst Jamie Katz.