Two facts strike cruise industry pundits at this time: the rise in demand for cruises in the Eastern Mediterranean and the large number of ships seeking to make a Greek port of departure.
On a global level, the general image of the cruise industry at the moment is undoubtedly very positive and sends optimistic messages for the future, the president of the Union of Cruise Ship Owners and Shipping Agencies, Giorgos Koumbenas, told NEA newspaper.
On an upward trajectory
It is a fact that after two very difficult years due to the pandemic, it is on an upward trajectory internationally, with over 7.5 million passengers having traveled to almost 90 countries since the resumption of services. At the same time, according to the most recent data from the Cruise Lines International Association-CLIA, total passengers are expected to recover and exceed 2019 levels by the end of 2023, while exceeding pre-pandemic levels by 12% by the end of 2026. Of course, we must say that in 2022 occupancy levels started at 60% and gradually improved, especially in the last months reaching 80-100%.
Excellent 2022 for Greece
Specifically for Greece, Mr. Koumbenas points out that 2022 was an excellent year for cruise activity with a large number of cruise ship calls to all Greek ports which according to the data of the Hellenic Ports Association (ELIME) reached 4,614. The account of the revenues and the corresponding positive impact on the national economy will also be very important as they are expected to exceed the revenues of 2019.
Cruises soaring in 2023 as well
For 2023, the president of the Union of Cruise Ship Owners, notes that both the Western and Eastern Mediterranean remain a constant preference but at the moment the Eastern Mediterranean is really on the rise and is one of the most popular and favorite regions for cruise guests.
In part this dynamic is due, as he explains, to the attractiveness of destinations such as the Greek islands as they offer countless options and multi-dimensional experiences for all tastes, ages and interests. Destinations in the Eastern Mediterranean also have rich history, culture, excellent cuisine, beaches and incredibly picturesque and unknown places apart from the very famous ones like Mykonos and Santorini.
In addition, international circumstances such as restrictions on the Asian and Northern European market as well as the blockade of the Baltic will continue to strengthen the tourist flow and demand towards the Eastern Mediterranean. Also, the increase in direct flights from America prompts cruise companies to choose Greek ports for embarking/disembarking cruise ships.
Preference for Greek ports
Also according to Mr. Koubenas, the increase in the number of ships based in Greek ports is also noteworthy. In other words, we are observing a steep rise in the growth of homeporting which is very positive for the development of the sector in Greece but also because it will create multiplier benefits for the national economy. The fact that many of these ships are smaller in size and aimed at high-income passengers is just as important as they reach smaller destinations that have not been on the cruise map until now, leaving a large economic footprint on local economies.
The forecast of cruise industry pundits is that the upward trend of the industry in Greece will continue with a further increase in arrivals that will be more than 10% compared to 2023.
A strategic cruise development plan is necessary
Finally, Mr. Koumbenas pointed out the need for Greece, given the continuous increase in cruise sizes, to find ways to improve the service of ships and passengers and to avoid overcrowding in ports and destinations. The need for a strategic cruise development plan is more imperative in order to design and implement the necessary infrastructure and also to make decisions that will help in the sustainable development of the cruise and the simultaneous increase in revenues from it, adds Mr. Koumbenas.
We must not end up forgetting the element that is necessary to maintain the cruise management know-how in our country but also to maximize the benefits which is none other than the Greek flag which is no longer present on any cruise ship.
Latest News
Eurobank: Prem Watsa ‘s Fairfax Reducing Stake to 33%
Bank sources: Placement of 2.2% of Greek lender's shares by Watsa aims to meet regulatory condition of minority ownership below 33%
Rare Earth Mineral Exploration in Greece on the Rise
The Ministry of Environment and Energy has pledged to impose strict obligations on the contractor to ensure environmental protection
New 11-Month High for Greece with 35M Tourist Arrivals in 2024
Inbound travelers to Greece boosted tourism-related revenues to 21.27 billion euros in the Jan.-Nov. 2024 period.
ECOFIN Approves Revisions to Greece’s Recovery Plan
Greek Finance Minister Kostis Hatzidakis said the decision will kickstart recovery fund absorption set to reach 64%.
Trends Shifting Among Foreigners Buying Holiday Houses in Greece
The primary reason for the shift in the trend is the saturation of popular destinations and the potential buyers’ desire for more privacy
Greek Public Debt at €370.865bln at End of Q3 2024: ELSTAT
It was slightly down from €371.483bln in Q3 2023, according to the quarterly non-financial accounts of the General Government
WEF Report Says 70% Greek Workers Need Retraining by 2030
The report, entitled “The Future of Jobs 2025”, says that a global shift in the workplace will result in the loss of 92 million jobs
National Bank of Greece Finances First Energy Storage Project in Country
The total financing for the project amounts to €41.9 million
Energy Giant Chevron Expresses Interest in Drilling in Greece
In line with this effort, the Hellenic Hydrocarbon Resources Management and Energy Resources Company (HEREMA) is submitting the Strategic Environmental Impact Study today
UBS ‘Bullish’ on Greek Banks
UBS highlights the positive trends in loans and savings and the financing cost, stressing corporate credit expansion acts as the driving force for the banking sector’s profit margins