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.”