A Look Back at 2024 in the Cruise Industry
In 2020, the COVID pandemic brought the industry to its knees. It was a stark contrast to the previous year’s cruise passenger count, with almost 30 million Ocean-going passengers in 2019. Then the next year, the drop went dramatically down to almost 6 million passengers. The good news is that over the years, the industry has bounced back, with annual growth of passengers, reaching a 107% increase in 2023 from 2019. The forecast for the next few years shows incremental growth, with 2027 eyeing almost 40 million Ocean-going passengers. As we get closer to the end of the year, we look at the highlights and numbers in the cruise industry.
The cruise industry has cruise lines in operation throughout every major world region. Travelers are enjoying cruises, traveling through areas like the Alaskan region, Africa, as well as South America. The highest percentage of cruise passengers can be seen traveling though the Caribbean, Bahamas, and Bermuda, with a 44.2% Global percentage. In second place at 18.5%, cruise passengers are travelling through the Mediterranean. The Caribbean saw an increase of over a million cruise visitors during 2023 compared to 2019. This year saw the increase in visitors steadily climb.
Another thing that is being seen across the cruise industry is the investment in propulsion technologies that produce sustainable fuels, with the goal of reaching net zero emissions by 2050 globally. Collaborative initiatives are already underway with fuel producers and engine companies testing out new types of sustainable fuels and technologies in the pursuit of achieving the goal of zero emissions. At this moment, there are 32 pilot programs that see 24 ships trialing new types of biofuels, 10 ships trialing and incorporating fuel cells into new build ships, and another 10 ships that are using dual or tri-fuel capable engines. (Cruise Lines International Association CLIA, 2024) As companies continue to work on adapting electric energy to replace the marine fuel being used today to comply with the EU maritime environment regulations by the year 2030. (Reuters, 2024)
The statistics show that demand for cruising is very high and will continue to rise each year. Younger generations are also gaining momentum when it comes to travelling on cruise ships, with an increase in percentage see with millennials and Gen Z, although the Baby Boomer generation continues to be the majority. A rise in first-time passengers is also being seen, with a 10% increase from last year. The global economic impact has been very positive as well, with $138 billion in profits and 1.2 million jobs added, leading to $43 billion in wages. Things are looking positive for the cruise industry. (Kuta, 2024)
References
Cruise Lines International Association CLIA. (2024, May). State of the Cruise Industry Report 2024. Retrieved from Cruising.org: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://cruising.org/-/media/clia-media/research/2024/2024-state-of-the-cruise-industry-report_updated-050824_web.ashx
Kuta, S. (2024, April 10). 9 Key Takeaways From CLIA's 2024 State of the Cruise Industry Report. Retrieved from Travel Pulse: https://www.travelpulse.com/news/cruise/9-key-takeaways-from-clias-2024-state-of-the-cruise-industry-report
Reuters. (2024, July 16). Global cruise industry sees growing demand, wary of port protests. Retrieved from Reuters.com: https://www.reuters.com/business/global-cruise-industry-sees-growing-demand-wary-port-protests-2024-07-16