Construction of bigger ships will propel a 48% in ocean cruise ship capacity in the decade to 2027 according to the latest Cruise Industry News Annual Report.
It says passenger capacity will grow from an estimated 26.7 million passengers this year to 39.6 million by 2027.
Meanwhile, gross revenue generated by cruise companies will rise from an estimated $40 billion in 2018 to $59 billion over the same period.
Surprisingly the report predicts most passenger growth will come from Europe, not Asia, which is currently the fastest-growing market by a long way, thanks in large part to the Chinese cruise boom.
“North America is expected to generate about 55% of all passengers in 2018, Europe 27.8%, and Asia-Pacific, 17.4%.
“Ten years from now, that could change to 51% of the passengers coming from North America, 31.5% from Europe and 17.5% from Asia-Pacific, pending the further development of China.”