Current Status of Cruise Industry

Report on the current
status of Cruise
Industry

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
Economic impacts of the Cruise Industry:..................................................................................3
Ports and Infrastructure:..............................................................................................................4
The Role of Technology:............................................................................................................4
The Role of Laws and Regulations:............................................................................................5
Trends in the cruise tourism market:...........................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Cruise industry consists of companies and organisations which deals in providing cruise
services to their customers and also the ones who manage these services and the industry itself.
Cruise ships are large passenger ships used mainly for holidaying. Unlike the cargo ships and
ocean liners which are used for transport and other activities like travelling from one place to
other, cruise ships begin on round trip voyages to various ports where they are called, at these
ports passengers board the ships to go on tours without any particular destination. These tours are
called shore expedition. Cruises to nowhere or nowhere voyages are round trips without visiting
any port of call.
In the cruise industry there are 314 cruise ships operating globally with combined
passenger capacity of 537,000 as of December, 2018. As of 2020, the world's largest ship is
Royal Caribbean's Symphony of the Seas (Casado-Díaz and et. al, 2021).
In this report various aspects of cruise industry are covered, namely; economic impacts of
the industry, ports and infrastructure, the role of technology, the roles of laws and regulations
and trends in the cruise tourism market.
TASK
Economic impacts of the Cruise Industry:
The latest data of the industry, that is of the pre pandemic period concludes that cruise
industry plays a significant role in world's economy. The cruise industry plays a significant part
in the creation of jobs and business opportunity for millions of people around the world (Sun and
Ni, 2018).
On an average there are 29.7 million passengers in the cruise industry availing these
services. They help in generating on an average of 1,166,000 jobs with more than £ 37 Billion
wages and salaries. Total output generated from this industry is more than £ 113.16 Billion .
The COVID-19 pandemic and the resulting pause in the operations of commercial cruise
has had annihilating impact on the cruise industry. Within this period there was a huge loss due
the interruption of cruise operations all over the world. There was a loss of more than £ 56
Billion in global economic activity. Also more than 518,000 jobs were lost with a subsequent
loss of more than £ 16 Billion.