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.
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