THE EUROPEAN CRUISE INDUSTRY 2009 ECONOMIC ASSESSMENT David Dingle Chief Execu2ve Officer, Carnival UK
THE EUROPEAN CRUISE MARKET ‐ ANOTHER YEAR OF GROWTH WITH 4.9 M PASSENGERS IN 2009 4.9m
European Passengers
17.5m Global Passengers
28.6m cruise pax calls in Europe
203,600 cruise beds in Europe
12%
Growth 2008 To 2009
8%
8%
9%
Source: G.P. Wild (Interna5onal) Limited and Business Research and Economic Advisors
THE CRUISE INDUSTRY’S DIRECT ECONOMIC IMPACT STILL GROWING, EXCEPT SHIPBUILDING €bn’s €12.9
€14.2
€10.6 €8.4
Source: G.P. Wild (Interna5onal) Limited and Business Research and Economic Advisors
AN ONGOING ALL‐ROUND SUCCESS STORY • 86% increase in cruise line purchases since 2005 • 143,000 European employees, of which ... • 51,000 European seafarers, a 55% increase since 2005 • 4.8 m passengers spent €0.5bn in embarka2on ports • 23.8 m passenger visits to wayports, spending €1.5bn
A HIATUS IN EUROPEAN CRUISE SHIP BUILDING? • Shipbuilding and repair is 33% of European cruise industry direct expenditure • Shipbuilding and repair economic impact fell 11% in 2009 • American cruise lines in par2cular have slowed orders • European market has stronger growth poten2al • New shipbuilding orders require – Maximum encouragement of European markets – Maximum support for European ship yards
ITALY REMAINS LARGEST EUROPEAN CRUISE ECONOMY Direct Economic Impact of the European Cruise Industry 2009 €bn’s
Source: G.P. Wild (Interna5onal) Limited and Business Research and Economic Advisors
TOTAL OUTPUT IMPACT OF EUROPEAN CRUISE INDUSTRY HAS GROWN 79% SINCE 2005 Total Output Impacts of the European Cruise Industry 2005‐2009 €bn’s
Source: G.P. Wild (Interna5onal) Limited and Business Research and Economic Advisors
A REMARKABLE STORY IN A CHALLENGING YEAR
The growing preference for cruising as a vacaWon, especially amongst Europeans, conWnues to deliver economic growth, even in the most challenging consumer environment.