Cruise Lines Are Already Getting the Support They Deserve in This Crisis

México Noticias Noticias

Cruise Lines Are Already Getting the Support They Deserve in This Crisis
México Últimas Noticias,México Titulares
  • 📰 NYMag
  • ⏱ Reading Time:
  • 70 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 63%

Cruise lines stand to benefit a lot from coronavirus-related relief policies, even though they are not eligible to get money directly. jbarro writes

Photo: Getty “We can’t let the cruise lines go out of business,” President Trump said on March 22 as Congress was working out the final details of the coronavirus relief package that would become the CARES Act. But when he signed the bill a few days later, it was written to exclude cruise lines from its lending programs by requiring that borrowers be incorporated in the U.S. and have their employees mostly located here.

I think the case against a cruise-specific rescue is even stronger than the argument about foreign flags implies. Cruise companies are not pretending to be offshore for tax purposes; they are actually, literally offshore. Sixty percent of global cruise passenger volume is outside North America; the Caribbean, by far the largest cruise market in the world, makes up only about a third of global cruising. Even when cruises depart from the U.S.

Of course, there are American jobs not directly in the cruise industry that depend on the cruise industry. Any blow to the cruise industry is also a blow to the cruise ports that handle departing and arriving passengers. These port jobs are also heavily concentrated in Florida, as over half the cruise passengers originating in the U.S. depart from ports in the Miami-Fort Lauderdale area or from Port Canaveral, near Orlando.

Cruises also generate business for airlines and hotels and restaurants . These businesses are also hurt by the cruise shutdown. It is less obvious they would be hurt by a lingering slowdown in the cruise business after the acute pandemic is over. If consumer demand for vacations returns but cruise volume is still greatly reduced — for example, because people are afraid to board cruise ships — then replacement vacation activities may actually generate more onshore economic activity in the U.S.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

NYMag /  🏆 111. in US

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

10 Dermatologist-Approved Eye Creams That Fight Dark Circles, Puffiness, and Fine Lines10 Dermatologist-Approved Eye Creams That Fight Dark Circles, Puffiness, and Fine LinesIn SkinCeuticals AOX+ Eye Gel, the antioxidants act as the main fighters. 'It interferes with the production of pigment which brightens dark circles, improves pigmentation, and also prevents free-radical damage from UV light exposure,' says Dr. King.
Leer más »

Supreme Court draws battle lines for voting amid coronavirus pandemicSupreme Court draws battle lines for voting amid coronavirus pandemicThe Supreme Court had been moving gingerly, carefully navigating the new Covid-19 world. All that changed when the court issued its first order related to the pandemic after a long day of ricocheting legal briefs concerning Wisconsin's pending primary.
Leer más »



Render Time: 2025-03-21 02:06:08