As the world struggles to get back to its feet, the Covid-19 pandemic has left the cruise community wondering if things will ever get back to the way they were before.
Until recently, cruises were the fastest-growing segment of the travel industry, with demand increasing by about 20 percent a year over the past five years. In 2018, the industry was estimated to be worth $150 billion and Asia was providing some of the most exciting opportunities for growth.
According to the Cruise Lines International Association, in 2019, 39 cruise brands were active in Asian waters, deploying a total of 79 ships. The number of ships deployed in Asia has grown 58 percent since 2014.
The big four cruise companies (Royal Caribbean, Carnival via its Costa and Princess brands, Genting and Norwegian via the Star Cruises brand) all made a concerted effort to establish themselves sailing from China, mainly due to the...
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.