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Microeconomics and the Market for Cruise Shipping Essay Example

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Microeconomics and the Market for Cruise Shipping

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Microeconomics and the Market for Cruise Shipping. The Cruise Industry in the country of Greece is regarded as part of the international sea Tourism. A study was conducted by the European Cruise Council which stated that the industry is likely to become more popularize. Therefore, there is lots of space of the managers of the cruise industries to exploit. The company can come up with initiatives that will modernize the facilities available in ports of the country. But the time calls for opening up of new destinations. There are many islands available in the country which has remained unexploited. The managers can come forward to develop new travel routes to the islands but the plan to be implemented properly, initiatives from the part of the government is required as well.

The cruise industry giants can offer training facilities for the employees. Such type of initiatives will not only increase the efficiency of the workers but will also attract more market share which in turn will be a source of financing. In order to avoid the lean seasons, it is the duty of the managers to come up with actions that will ensure passengers throughout the year for the company. Moreover, safety measures in sea will also contribute to gain the market share. The merchant marine industry in Greece contributes around 16% in the economy and is one of the largest in the world. The industry is the major contributor in the Greek economic pie. Currently around 3% of the total labor force of the country is engaged with this industry. Some of the ancillary services contributing to the shipping industry of Greece are agencies, ship building as well as repairing. The income of the country from the transport facilities especially from shipping rose around 15% in the first nine months on 2010. The country still ranks number one in the ship-owning nations. Currently the country controls more than 15% of the world’s fleet. The country follows the policy of protectionism. As a result of following this policy, the country could only account to 3.3% of the direct receipts. Microeconomics and the Market for Cruise Shipping.

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Reference

Baird, C. and Cartwright, R. (1999). The Development and Growth of the Cruise Industry. Retrieved from: http://books.google.co.in/books?id=wuVF991ZwMsC&dq=cruise+industry&hl=en&sa=X&ei=7g34T82EBYqqrAeP8czbBg&ved=0CDYQ6AEwAA.

United States Environment Protection Agency. (2008). Cruise Ship Discharge Assessment Report. Retrieved from: http://water.epa.gov/type/oceb/upload/0812cruiseshipdischargeassess.pdf.

Greek Economic Outlook, (2010). The Deregulation of Cruise Industry in Greece. Retrieved from: http://www.kepe.gr/pdf/Outlook%20Old/outlook_13full.pdf.

Kavussanos, M., Visvikis, I and Goulielmou, M. (2007). An Investigation of the Use of Risk Management and Shipping Derivatives: The Case of Greece. Retrieved from: http://trid.trb.org/view.aspx?id=804843.

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