The cruise industry refers to the sector of the tourism industry that involves the operation and management of cruise ships, which are large vessels designed to carry passengers on voyages ranging from a few days to several weeks. These ships provide accommodation, meals, entertainment, and various activities as part of a travel experience that often includes multiple destinations, typically in coastal regions or near ports. The industry encompasses various companies that own and operate cruise lines, as well as the associated services such as tour operators, travel agents, and port facilities. The cruise industry is characterized by its focus on leisure travel and has seen significant growth over the years, attracting millions of travelers worldwide. It also plays a role in local economies through tourism and job creation in ports of call.
Carnival's stock saw a significant drop, decreasing by 7.7% to close at $24.07, after an intraday low of $23.42. Stocks began the day at $25.59, fueling investor caution as over…