Cruise industry set to carry 30,000 million passengers by 2022

Cruise Ship

The global cruise industry will expand its capacity to accommodate 30,000 million passengers by 2022, findings from the latest Cruise Industry News Annual Report claim.

Current global capacity for cruises stands at 22 million passengers but the report states that the order of 47 new ships will lead to an increase of as much as 36% over the next seven years – putting the figure at 30,000 million.

Increasing capacity on all cruises

The new ships preparing for launch will include nine vessels from the Carnival Corporation who confirmed their expansion plans after signing a memorandum of understanding which stated their new ships will be built and delivered between 2019 and 2022.

The report highlighted that even more new-build orders could come into view over the same timeframe with other cruise liners expected to get in on the action.

This includes Royal Caribbean, who is expected to order two more Quantum-class ships, and Viking Cruises who hinted that an additional 10 ocean ships could be added to their fleet by 2020.

Increasing the luxury market

While this 36% growth in capacity may seem excessive, it is not an anomaly for the market.

An earlier report found the cruise sector expanded by a similar percentage during 2008-2015, although the reasons for the change were different. Whereas earlier growth was driven by the European and Asian-Pacific regions, which include Australia, South America and North America, the more recent projections are fuelled by growth in the luxury cruise sector.

While growth in North America and Europe has slowed, with South America’s growth starting to decline, the luxury market is prepared for a 53% increase in passenger capacity over the next three years alone.

This will be largely driven by new ships – luxury cruises current operate from 26 ships but aim to operate 32 ships by 2018 with passenger numbers increasing from 336,000 to 515,000 as a result.

If you are looking forward to going on a cruise this year, it’s important to remember to book worldwide travel insurance in advance

Date Created: 08 June 2015

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