HomeNewsWorld's Biggest Port Operator Describes Cruise Industry Outlook as 'Very Positive'

World’s Biggest Port Operator Describes Cruise Industry Outlook as ‘Very Positive’

The outlook for the international cruise industry is “very positive”, the world’s leading independent port operator has said, with the sector set to fully return to pre-pandemic growth levels this year.

On the back of a strong set of annual results, Global Ports Holding (GPH) said passenger capacity should grow by 45% on pre-Covid levels by 2027.

GPH – which operates various ports in North America and in the Mediterranean, from the Canaries and mainland Spain, to Italy and Malta – has reported a 62% year-on-year surge in revenue for 2022, to $174m, and a 250% rise in passenger numbers through its ports.

GPH said: “The outlook for the cruise industry is very positive. The major cruise lines have reported a record-breaking 2023 wave season, the global cruise fleet is now fully deployed and occupancy rates, which returned to pre-Covid 19 levels in some markets during 2022, are expected to be at pre-Covid 19 levels across the global cruise fleet by summer 2023.

“Longer-term, the outlook for the cruise industry continues to be positive as well. The passenger capacity of the industry is forecasted to grow by 45% by 2027, from 2019 levels. There are 75 cruise ships currently in the cruise ship order book and due for delivery by 2027.”

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.

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