China’s Cruise Ship Market Expected to Top the World

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(Image Courtesy: Nikkei Asian Review)

China is poised to become the largest cruise market in the world and that leaves many opportunities for international players to help the Chinese cruise tourism industry grow, said an industry expert this week in New York and reported by China Daily.

“We just see China has the largest cruise market potential in the world. And it’s a great economic multiplier,” said Arnold Donald, president and CEO of Carnival Corporation, the world’s largest leisure travel company.

“We felt that we wanted to be a part of that, as the world’s largest cruise line (operator), to help China and (the) Chinese experience all the great aspects of cruise,” Donald said on the sidelines of the North American Leaders Forum.

Carnival announced the launching of its cruise joint venture with China State Shipbuilding Corporation under the name CSSC Carnival Cruise Shipping Limited on Nov 6, 2018.

Meanwhile, the new China-based cruise company is set to operate its own fleet to serve Chinese cruise guests by the end of this year, the report said.

“Cruise is in the five-year plan for China, because of the great economic multiplier effect that it has for the economy. So one cruise ship job creates about five to seven other jobs in the economy. All those things make it positive,” Donald said.

Carnival Corporation reported a net income of US$3.2 billion in 2018, compared to US$2.6 billion in 2017, according to the Cruise Industry News. Revenues for 2018 were US$18.9 billion, US$1.4 billion higher than the prior year.

(Source: ASIA TIMES)

Sea News, June 13