Travel and tourism accounts for some 10% of global GDP and one in 10 jobs, according to the World Travel and Tourism Council, an industry group, reports CNN Business. As many as a third of these jobs, or more than 100 million positions, and some $2.7 trillion in GDP could be at risk as a result of the current crisis, the council said last month.
Royal Caribbean Cruises launched a new $3.3 billion bond offering on Wednesday and said it would use 28 of its ships as collateral, as it looks to stay afloat after the COVID-19 pandemic upended the industry, according to Reuters. The company, which was forced to suspend its cruises globally and cut about 26% of its U.S. workforce, said it would use the proceeds from the private note offering to repay a $2.35 billion 364-day term loan agreement with Morgan Stanley.
Holiday operator TUI said it would axe up to 8,000 jobs and make permanent cost cuts as it called the Covid-19 pandemic “unquestionably the greatest crisis the industry has ever faced,” reports ShareCast.
Jayson Westbury has resigned as CEO of the Australian Federation of Travel Agents (AFTA) after making controversial comments about television program A Current Affair (ACA) and presenter Tracy Grimshaw, reports Travel Talk.
The research reveals that Australians have no intention of going back to their old ways, with a large majority (64 per cent) saying they were likely to continue social distancing when restrictions are relaxed, reports Image Magazine. A massive 86 per cent also indicated that they would maintain heightened personal hygiene levels, according to the first edition of the recurring survey, conducted by research agency Dynata from 1-4 May 2020.
Headlines about Carnival (NYSE:CCL) have trended somewhat negative recently, according to InfoTrie Sentiment Analysis, reports the Lincolnian. InfoTrie scores the sentiment of news coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable.
Carnival Glory, the cruise ship that repatriated 92 Vincentian sailors on Saturday had threatened to sail north again if Kingstown was not prepared to receive its nationals who were on board, reports iWitness News. However, Prime Minister Ralph Gonsalves said he stood his ground, and the cruise line later complied with his government’s demand that each sailor be administered a rapid test for COVID-19 disease.
Two months after cruise lines ceased operations worldwide, the “Cruise Capital of the World” and its industry partners are in talks to redraw details in their long-term agreements to adjust to post-coronavirus expectations, reports Miami Today. How those talks will affect four massive terminal deals PortMiami struck with Carnival Cruise Line, MSC Cruises, Norwegian Cruise Line and Virgin Voyage late last year remains to be seen, but port Director Juan Kuryla said Tuesday that all parties “continue to be optimistic.”
After weeks of delayed efforts to repatriate crew members to their home countries amid the global COVID-19 pandemic, cruise companies are embarking on a Caribbean-wide tour to drop off stranded — and now unemployed — workers, reports Miami Herald. But not everyone is happy with the arrangements — or leaving it up to the cruise lines to determine if workers are infected.
One last issue on the tourism industry…In his press conference last week, Prime Minister Dean Barrow spoke about the repatriation of Belizeans stranded in other countries, reports News 5. They are expected to return to the country by the end of May.