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Cruise industry on target for record year as passenger numbers set for all-time high | Planet Attractions
     

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Cruise industry on target for record year as passenger numbers set for all-time high

Despite facing a number of global challenges, the cruise industry is on target to break a pre-pandemic record as nearly 35 million passengers are expected to take to the seas for a cruise vacation




The cruise industry’s global economic contribution is estimated at US$150bn   Credit: Matt Benson on Unsplash

The global cruise industry is booming, with projections suggesting nearly 35 million people will go on a cruise during 2024.

Last year 31.7 million people took a cruise, with that figure surpassing the 2019 pre-pandemic high by 7 percent. On target to break the record for most cruise passengers in a single year, figures in 2024 have increased 8 percent compared to 2023, all despite global inflation, geopolitical instability, environmental concerns and the continued fallout from Covid 19.

According to trade body Cruise Lines International Association (CLIA), global passenger capacity is estimated to grow from 677,000 berths in 2024 to 745,000 by 2028.

These staggering figures come with similarly staggering financial figures, with the cruise industry’s global economic contribution estimated at US$150bn (€138.4bn, £117.5bn) for 2023. For 2024 this figure is expected to increase, with projections indicating that cruise companies will generate US$30.1bn (€27.7bn, £23.5bn) in revenue in 2024, a nearly 20 percent increase from 2023.

Such a resurgence places the cruise market at the fastest-growing segment within the tourism industry, with figures also showing the power of retaining consumers with 55 percent of cruise passengers being repeat customers.

Broken down into regions, the Caribbean is the cruise leader, with 35.8 percent of the market share. This is followed by the Mediterranean at 18.6 percent and then Northern Europe and the United Kingdom at 13.1%.


Cruise

 

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Cruise industry on target for record year as passenger numbers set for all-time high | Planet Attractions
news

Cruise industry on target for record year as passenger numbers set for all-time high

Despite facing a number of global challenges, the cruise industry is on target to break a pre-pandemic record as nearly 35 million passengers are expected to take to the seas for a cruise vacation




The cruise industry’s global economic contribution is estimated at US$150bn   Credit: Matt Benson on Unsplash

The global cruise industry is booming, with projections suggesting nearly 35 million people will go on a cruise during 2024.

Last year 31.7 million people took a cruise, with that figure surpassing the 2019 pre-pandemic high by 7 percent. On target to break the record for most cruise passengers in a single year, figures in 2024 have increased 8 percent compared to 2023, all despite global inflation, geopolitical instability, environmental concerns and the continued fallout from Covid 19.

According to trade body Cruise Lines International Association (CLIA), global passenger capacity is estimated to grow from 677,000 berths in 2024 to 745,000 by 2028.

These staggering figures come with similarly staggering financial figures, with the cruise industry’s global economic contribution estimated at US$150bn (€138.4bn, £117.5bn) for 2023. For 2024 this figure is expected to increase, with projections indicating that cruise companies will generate US$30.1bn (€27.7bn, £23.5bn) in revenue in 2024, a nearly 20 percent increase from 2023.

Such a resurgence places the cruise market at the fastest-growing segment within the tourism industry, with figures also showing the power of retaining consumers with 55 percent of cruise passengers being repeat customers.

Broken down into regions, the Caribbean is the cruise leader, with 35.8 percent of the market share. This is followed by the Mediterranean at 18.6 percent and then Northern Europe and the United Kingdom at 13.1%.


 



© Kazoo 5 Limited 2024