Europe’s Cruise industry has delivered a record boost to Europe’s economic recovery, a report released by CLIA Europe has confirmed.
According to CLIA Europe’s 2015 Economic Contribution Report, the cruise industry’s economic output in Europe reached a new record of €40.2 billion in 2014, up 2.2% since the previous year, and including €16.6 billion in terms of direct expenditures by the industry.
The number of European jobs the industry accounted for in 2014 reached 348,000, 10,000 more than in the previous year, amounting to €10.75 in terms of employee compensation.
Europe remains a key player in the global cruise industry map, being the second biggest source market worldwide, the second most popular destination, and the indisputable global leader in cruise ship building.
Thus the cruise industry continues to make a valuable contribution to Europe’s economy at a crucial time of economic recovery.
And yet, a number of challenges are keeping Europe’s cruise industry from realizing its full potential. These notably include a cumbersome Visa application process for the Schengen Area that is keeping millions of would-be tourists from visiting Europe, and a lack of investment in coastal infrastructure and port facilities throughout the Continent.