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Cruise industry now worth £2.58 billion a year to the UK

CruiseThe cruise industry is now worth €3.26 billion (c. £2.58 billion) per year to the economy in the UK, according to the Cruise Lines International Association’s (CLIA) annual European Economic Contribution Report.

The amount added to the UK economy is the highest on record and include items such as employees’ salaries and goods and services purchased by cruise lines.

Across the whole of Europe, the industries economic output also reached an all-time high, hitting €40.95 billion (£32.22 billion) in 2015, a 2% increase on the previous year.

The report also revealed that employment within the UK cruise industry grew by 4.1% to 73,919 jobs, accounting for 20% of the market share within Europe.

It is estimated that 16,397 of that total were directly employed by cruise lines, earning €605 million (£479 million).

The port of Southampton also maintained its position as the leading embarkation and disembarkation port in Northern Europe, with a total of 1.75 million passengers passing through during 2015.

Overall British ports had a successful year, with more than one million UK and international passengers visiting a British port during a cruise, a number which has been doubled over the course of a six year period.

According to Andy Harmer, CLIA Europe VP Operations, the multi-billion valuation shows that cruise is a major player in the travel sector even though they may have once been seen as niche.

The success seen in the global cruise industry is also set to continue, with 50 ships scheduled for delivery between now and 2019.

Decisive investment has helped the industry see consistent growth and show drastic signs of improvement.

Mr Harmer also noted that the industry benefited from new ships entering into service while offering innovative facilities and activities, ensuring that high standards are maintained.

If you’re thinking of travelling abroad this year, be sure to organise your family travel insurance in advance

Date Created: 23 June 2016

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