The Economics of Cruise Ships | Hustlenomics

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Major cruise lines rake in billions of dollars in a typical year. Pre-covid, The Hustle estimated the average cruise ship made $291 in profit per passenger, per cruise, amounting to $1m+ in profit at max capacity. But major cruise lines pocket a substantial sum of that money thanks to tax exemptions outlined in the U.S. Tax Code. By registering their ships in other countries and flying foreign flags, cruise industry critics argue that cruise lines are able to avoid paying millions in US corporate taxes. But how is this loophole possible?

This original story was written by Zachary Crockett. To read the story, visit https://clickhubspot.com/oau