The brokerage said China now accounts for approximately 5% to 6% of global cruise capacity deployment, but in terms of global customer sourcing the percentage is likely slightly higher.
Less important seasional booking period
‘While coronavirus concerns are currently heightened surrounding the Chinese Lunar New Year peak holiday travel period, this is a less important seasonal period for the cruise industry relative to the peak summer cruise season,’ Wells Fargo analyst Tim Conder said. Additionally, since the China market books so close to departure, he doesn’t anticipate a material impact on 2020 China-sourced sales.
No travel restrictions
Based on currently available information, the World Health Organization does not recommend any restriction on travel or trade. Countries have been encouraged to step up their public health controls and communication.
According to news reports, confirmed coronavirus cases have reached more than 300 and two people have died.
‘Experts believe the current coronavirus to be much less deadly than severe acute respiratory syndrome, or SARS, a different coronavirus strain that killed hundreds of people around the world in late 2002 and early 2003 after it first appeared in southern China,’ The Wall Street Journal reports.