Bankruptcy on the part of existing cruise lines won't end anything. It will only mean reduced payments on the ships either through negotiation or through repurchasing them at auction. Likely in some way they'll end up with the same ships, at least as many as they want, just at a lower cost.
As to what people will do. I see cruising and all international travel down tremendously for a couple of years. I see US Vacationing down but not as extreme as international. People just will be wary for a while and will curtail spending. However, memories are not that long and in 2 to 3 years people will forget the lessons they should have learned.
Interesting statement: "... in 2 to 3 years people will forget the lessons
they should have learned."
2 to 3 years of an economy not performing up to levels it had become geared will likely create a deep recession - maybe depression??
IMO, there are going to be considerable, ongoing economic alterations.
Low hanging business-fruit will become plentiful; e.g., opportunities during the "return" to business as usual. It is deeply unfortunate that so many current private business owners will go broke. However, not unlike the RE purchase mantra "location, location, location"; in his case of economy rebuilding the business purchase mantra is going to be "opportunity, opportunity, opportunity". But be careful: Many business function [and/or RE] opportunities could spoil on the vine... or prove to be an extended bad investment choice [drain]... as the economy proceeds through months to years of economic rebuild gyrations.
"Toto, I have a feeling we're not in Kansas anymore!"
Due to the plethora of businesses [private and industrial] and real estate owners [private and commercial] that [due to years of extremely low interest rates] had gotten max-loan-leveraged... there will become a cauldron of non performing accounts that will place extreme weight on the national and international [i.e. global] financial system; regarding its need to continue performing at acceptable levels. Wow -
that multi leveled concept sure took an extended sentence! - LOL
Numerous financial service businesses [even entire service groups] may not be able to keep their heads above water... the industry could be swamped. Multi trillion dollar $$$ "back stop" cash infusions may be able to keep us out of a full on depression; then again, it may not. One way or another, Trillion$ in "fiat" capital that is magically getting produced will create out of balance economic circumstances that might create the Perfect [global] Economic Storm [collapse].
Stay safe and healthy - best luck as days, months, years progress!
