from MSNBC (3/17):
Recession? Not for the cruise industry
Executives have rosy outlook despite record oil prices, struggling economy
By Anita Dunham-Potter
Travel columnist
Tripso.com
updated 8:16 a.m. PT, Mon., March. 17, 2008
"Cruise line executives speaking at the annual Seatrade Cruise Shipping Convention in Miami last week presented a surprisingly rosy outlook despite record oil prices and the U.S. economy’s bleak outlook.
While not immune to a weakening economy, the cruise industry has a track record for standing strong in harsh economic times. Gerald Cahill, Carnival Cruise Lines’ president and chief executive, pointed to the tough years of 1990 and 2001." ....
"Cruise executives cite the cruise product’s tremendous value at a low price as the main reason for optimism." ... "Indeed, Cahill noted that on average cruises are about 20 to 50 percent cheaper than comparable land-based vacations." ...
"Executives also hinted at the next big destination — Asia. Singapore, Taiwan and Korea announced new cruise terminals anticipating the growth. Cruise executives say the new cruise terminals aren’t just targeted at North American cruise travelers but are also aimed at the people who live in the region." ...
for the complete story
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