Guide to Cruise Refunds, Cancellations

Credit: Bankrate

From: Bankrate

While COVID-19 wreaked havoc on nearly every aspect of the travel industry, the cruise industry was possibly hit the hardest. The pandemic led to the voluntary suspension of worldwide cruising in March 2020, and most cruise enthusiasts have been waiting with bated breath since then.

The economic impact has been substantial, both for cruise lines and those they employ. According to the Cruise Lines International Association (CLIA), financial losses from mid-March 2020 until the end of September 2020 added up to $50 billion in economic activity worldwide. On top of that, 334,000 jobs were lost in the industry worldwide, which led to $15 billion in lost wages.

In the U.S., stats show the cruise industry contributes over $53 billion in economic activity each year, and 421,000 American jobs depend on it. Further, every 30 cruisers from ports in the U.S. support one American job, and each day the suspension of cruise operations continues leads to $110 million in economic losses and the loss of up to 800 U.S. jobs.

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