Greater Cruise Sector Investment Expected in 2017

According to its 2017 State of the Cruise Industry Outlook, trade association Cruise Lines International Association (CLIA) is predicting a steady pace of cruise travel interest and significant investment in the industry.

 

Increase in cruise travel is expected to continue throughout 2017, with an estimated 25.3 million passengers expected to sail in 2017, a strong surge from 15.8 million just 10 years prior (2007). More ships will set sail in 2017 as well. CLIA reports that cruise lines are scheduled to debut 26 new ocean, river and specialty ships in 2017 for a total investment of more than $6.8 billion in new vessels. From 2017-2026 the industry is expected to introduce a total of 97 new cruise ships totaling an estimated investment of $53 billion through 2026.

 

“The cruise industry is responding to global demand and we are highly encouraged by both the short-term and long-term outlook,” said Cindy D’Aoust, president and CEO, CLIA. “From technological advancements and deployment of new ships to new ports and destinations around the world, the industry continues to respond to desires of today’s travelers resulting in steady growth and strong economic impact around the world.”

 

Cruise industry expenditures generated $117 billion in total output worldwide, supporting 956,597 full-time equivalent employees who earned $38 billion in income in 2015.