European consumers are feeling more “pinched” than those in North America due to the rise in energy prices, Royal Caribbean Group’s president has warned.
Speaking during a quarterly financial results call on Tuesday (February 7), Jason Liberty said the group has continued to see “elevated demand” from the North American market, while the European market has been slower as consumers are more affected by energy price rises.
But he went on to say he is “happy” that in the last three weeks the group has started to see higher demand from the European market.
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“I think the impact of the Ukraine and Russia conflict comes to us in two ways, one of which is there’s a little bit of a deployment impact as we’re not able to go into the Baltics, and then there’s obviously some impact to the European consumer because of energy prices,” he said.
“Europeans are certainly feeling more pinched than the Northern American consumers because of the increase in energy prices and how that has impacted their economy.”
He added: “I am happy to see over the past two or three weeks that high demand has moved into Europe as well.”