Hi, need to submit a 3250 words essay on the topic Cruise Industry.The global economy is passing through the recession with high levels of unemployment as well as fluctuating oil prices. Though the tr
Hi, need to submit a 3250 words essay on the topic Cruise Industry.
The global economy is passing through the recession with high levels of unemployment as well as fluctuating oil prices. Though the traditional market for the cruise industry i.e. North America is making an economic recovery, however, conditions in Europe are relatively discouraging due to sovereign debt issues as well as low economic growth. Thus the strategy of developing long-term sustainability of the industry may face setbacks as it may fail to find lucrative and profitable alternative destinations.An overall international political environment is relatively volatile too with potential threats of terrorism as well as pirates. There has been an increased activity of pirates especially in Somalia region with the possibility that such activities may be started in other areas too. Since both the cruise liners i.e. CCL and RCL also operate in non-US areas also, therefore, the fluctuations in the foreign currency values can also adversely affect the revenue of both the cruise liners.There have been concerns over the environmental protection and the potential role of cruisers in disturbing the ecosystem of the sea. It is also because of this reason that the overall regulatory environment for cruise liners may become tough. It is also because of this link between environment and cruise industry that it has been attracting negative publicity. Various environmentalist groups are advocating against the industry due to the potential damage that could be done to the environment.