hand of health experts, thus ensuring the safety of crew and pas- sengers. Likewise, all of them offer flexible rates allowing can- cellations without expenses or date changes without penalty in case of not being able to travel, therefore, cruise companies and agencies work together to give all the guarantees to the traveler who wants to take a cruise this year. As a result of all the above, it is predicted that 2023 year the demand will continue to increase, and soon new records will be reached in terms of worldwide number of passengers. In the last three years, the major companies have been optimiz- ing their assets and disposing of their less efficient ships. On the other hand, they have seen their debt ratios increase significantly due to the lack of cash flow to cover their fixed costs. Neverthe- less, they are in a solvent position to face the coming years in which they are expected to return to net profit. The Caribbean and Europe are expected to continue to be the main cruise des- tinations and China is expected to be one of the fastest growing outbound markets due to the reopening of the economy, the size of the market, and the large amount of savings generated by Chi- nese families during the years of confinement. 70 SPAIN-US CHAMBER MARKET REPORT