Cruise industry recovers to pre-pandemic levels
29-05-24
After an arduous recovery process over the past four years, the cruise industry is finally approaching pre-pandemic levels of activity and profitability. The devastating impact of COVID-19 had led to a steep drop in revenues and passenger numbers, putting them well below 2019 levels. However, all indications are that this year could mark the long-awaited return to normalcy.
According to data from Stocklytics.com, this year the cruise industry is projected to reach revenues in excess of $30 billion and carry some 29 million passengers. This achievement represents significant progress since the collapse of the industry, which during the pandemic saw its revenues and customers reduced by almost 90%.
In 2023, the global cruise industry generated $25.1 billion in revenue, according to Statista Market Insights, which still represented a $2 billion gap from 2019 revenue. In addition, passenger numbers reached 24 million, five million fewer than before the pandemic.