Cruise Lines Threaten to Skip Mexico, Carnival Ship Stuck in Port

Editorial Summary

Doug Parker reports on several developments affecting the cruise industry. Lawmakers in Mexico have proposed a new immigration fee of 42 dollars per person, which could take effect in 2026 if approved by the Senate. The Florida Caribbean Cruise Association warns that this tax could disrupt existing itineraries and reduce the expected 10 million passengers for 2025. This proposal may also impact major investments such as Royal Caribbean's Perfect Day Mexico near Costa Maya. Additionally, a separate 5 dollar state tax is scheduled to begin in January 2025. In other news, the Carnival Liberty arrived in New Orleans nearly a full day behind schedule due to technical issues, an emergency evacuation, and Mississippi River traffic. The cruise line provided guests with onboard credit and a pro-rated refund for the lost day. Meanwhile, the Grand Turk cruise port reported record numbers, welcoming over 1 million passengers in the first ten months of the year. This growth resulted in an estimated economic impact of 116 million dollars in spending for 2024. Finally, the report notes mixed performance in cruise stocks, with Carnival Corporation and Royal Caribbean seeing gains while Norwegian declined slightly.

Written by TripBacon from this video's transcript.