Australia risks losing cruise industry to Asian competitors

Australia's cruise industry faces potential decline as operators warn that high port fees and regulatory uncertainty are driving major cruise lines away from Australian waters. The country, currently the world's fourth-largest cruise market with 1.4 million passengers annually, has already lost five cruise lines including Virgin and Disney, representing 50,000 cabins and an estimated $1 billion in economic impact. Industry experts are calling for an urgent government summit to address port fees that are double those of Miami and a two-year ship licensing requirement that creates planning difficulties for operators.See omnystudio.com/listener for privacy information.