Cruise Industry Crisis Risk Management and Recovery Strategies Utilizing Crowdsourcing Data

With 30 million passengers in 2019, cruise tourism was considered a growing part of world tourism. However, the pandemic has proved disastrous for the sector. According to the Cruise Lines International Association 2020 report, the cruise industry suffered a financial loss of $50 billion. As the cruise industry transitions from response to recovery, strategic decisions about building resilience and resetting for a sustainable future are critical. As a result, developing a sustainable recovery strategy and an adaptive mechanism to adjust as the “new normal” arises is critical. This study utilized crowdsourced data from a cruise-sector representative sample and suggests that cruise firms can assess the performance of their recovery approach and prepare themselves with effective risk management plans by using data-driven monitoring and analysis to change business operations in favor of brand optimization.