Australian cruise outpaces global growth

Australian cruise outpaces global growth
By admin

The Australian cruise sector is growing three times as fast as the global rate with the annual number of local cruisers set to hit Carnival Australia’s target of one million by 2020, according to new research.

Economic analysis by Deloitte Access Economics commissioned by Carnival Australia, showed the local cruise industry had grown by an average of 18% over the last five years. The sector’s economic contribution, meanwhile, has soared 44% since 2007/08 to more than $828 million.
The figures exceed previous estimates and such growth “will certainly continue in the long term”, Deloitte Access Economics director Ric Simes said
“In terms of economic activity, cruise tourism’s contribution to national GDP is forecast to double to 0.12% through to 2019/20,” he added.
Carnival Australia chief executive Ann Sherry claimed the figures made Australian cruising “the envy of the rest of the world”. The local market now makes up more than 4% of the global cruise market, double that of five years ago.
“The cruise industry has for years been the standout success of the Australian tourism sector and the new study enables us to now quantify its positive impact,” she said.
Sherry once again stressed that the figures demonstrated the need for further investment in port facilities to ensure continued growth, particularly in Sydney.
“The Overseas Passenger Terminal in Sydney is already at capacity and the need for a permanent shared solution at Garden Island is now critical,” she said.
Cruising contributed almost $371m to the New South Wales economy in 2010/11, with forecasts of $1.128 billion by 2019/20 with Queensland benefitting to the tune of $166.4 million in 2010/11 and forecast to hit $340.8 million by the end of the decade.

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