Cruise tourism generates $4.27 billion in the Caribbean and Latin America

30-10-24

Cruise tourism has reached a record $4.27 billion in revenue for the Caribbean and Latin America over the past year, surpassing the pre-pandemic all-time high of 2018 by more than 25%. This breakthrough was detailed in a study by the Florida-Caribbean Cruise Association (FCCA), which analyzed the economic impact on 33 destinations.

The study reveals that the cruise sector supports more than 94,000 jobs in the region, with wages totaling $1.27 billion. On average, each destination received $29.3 million in direct spending by cruise lines, totaling $968.3 million.

Passenger visits reached 29.4 million, with an average expenditure of $104.36, generating revenues of $3.07 billion. In addition, 3.9 million crew visits were recorded, with an average expenditure of $58.78, adding $229.5 million to the total.

Compared to the previous study, passenger and crew visits increased by 13%, reaching a total of 33.3 million visits, and in the 31 destinations evaluated in both years, the increase was 17%. Likewise, the average spend per passenger increased in 26 of these destinations, and in 14 destinations the average spend exceeded $100, compared to 12 destinations in 2018.

The Bahamas was the highest grossing destination, exceeding $650 million, followed by Cozumel in Mexico with $483 million. Michele Paige, executive director of the FCCA, expressed her satisfaction with the results, “We are proud of these results and what they mean for the lives and livelihoods of so many people in the Caribbean and Latin America.”

This report was presented at the FCCA's 30th annual conference in St. Maarten, and while it did not include indirect industry benefits such as spending on supplies for tour operators and restaurants, it will lay the groundwork for strengthening the relationship between cruise lines and destinations in the region.