Page 14 - SUSTAINABILITY REPORT 2016

GOVERNANCE 15

A fast growing and rapidly evolving industry

Global cruise travel continued to grow itineraries, which can be changed over MAIN CRUISE DESTINATIONS (GLOBALLY)
24.7 and evolve at a record pace in 2016, time in order to cater to guest tastes Source: CLIA data 2017
though it still accounts for a mere drop or as general economic or geopolitical
in the ocean compared to general leisure conditions warrant. All this helps make the
MILLION travel. From technological advancements associated investments profi table. CARIBBEAN
GLOBAL CRUISE and deployment of new ships to new The increase in cruise travel is expected
PASSENGERS 35% 11.1% 9.2% 6.7
IN 2016 ports and destinations around the world, to continue throughout 2017, with 2%
the industry continues to respond to the an estimated 25.3 million passengers
desires of today’s travelers resulting in expected to sail this year, a strong surge ASIA CRUISE MILLION
+ 3.5%
strong economic impact and signifi cant from 15.8 million just 10 years ago. EUROPE INDUSTRY COMPARED
economic and social benefi ts throughout The changes in consumer behavior and TO 2015
the value chain. The biggest impact stems demographics, along with economic GLOBAL EUROPEAN
11.5 from the construction and fi tting-out growth and the rise of the middle class 2.5% TOURISM PASSENGERS
of new ships, each of which demands a in many emerging international markets
substantial investment worth hundreds and the accompanying increase in their
MILLION MEDITERRANEAN
SAILED ON BOARD of millions of euros and directly generates earning power and disposable income, SOUTH
AMERICA
ONE OF CARNIVAL thousands of jobs. Economic impact will continue to drive demand for travel ECONOMIC IMPACT
CORPORATION’S SHIPS is also associated with the activities of and the global cruise industry. To meet GENERATED IN EUROPE
travel agencies, ports (of embarkation this demand, from 2017 to 2026 the
and transit) as well as tourism and allied industry is expected to introduce around 18.3% 41 360,571
industries in the destinations visited. 100 new cruise ships with an increase in
One of the key factors providing the cruise global passenger capacity totaling over AUSTRALIA BILLION JOBS

2.99 industry with a competitive advantage 230,000 berths. OTHER NEW ZEALAND EUROS OF
DIRECT
compared to other land-based vacation In this context Costa’s goal is to strengthen
ALASKA
alternatives is the mobility of cruise ships; its leadership by marketing trend-setting SPENDING
MILLION cruise companies can move their vessels products and services while guaranteeing
SAILED ON BOARD between regions in order to maximize the sustainable management of their 13.6% 10.3%
ONE OF THE COSTA
CROCIERE GROUP’S profi tability and to meet changing direct impacts on the communities with
SHIPS demand. This fl exibility also applies to which it interacts and on the environment.

Costa leads the expansion of the Asian market economies on account of the substantial increase in the number of visitors to these destinations.
More specifi cally, China is expected to become the world’s second largest cruise market by the end of the decade. The Costa Group was
and eyes India for future development the fi rst cruise company to enter the Chinese market back in 2006, once again confi rming its reputation for being an industry pioneer.
Costa’s cruises are marketed in China as “Italy at Sea”, off ering Asian Guests an Italian (and European) style holiday experience with
Costa already has four ships operating regularly in Asia and a fi fth, the Costa neoRomantica, is due to arrive in 2017 in Shanghai, where inimitable Italian-style hospitality, cuisine and entertainment, albeit tailored to the Asian clientele. Costa’s presence in the Far East will
she will be refurbished so as to appeal specifi cally to her future guests. The Group’s cruises in this region comprise over 200 destinations be further strengthened with the entry into service of two new ships ordered specifi cally for deployment in Asia and due for delivery in
in 17 countries, making cruising one of the easiest travel options for anyone wishing to tour Asia; the nations with the most ports of 2019 and 2020. The Company is also eyeing the Indian market closely; there is huge business development potential in India, where
call are Japan, China and South Korea. The introduction of new ports across Asia is important not only for cruisers but also for the local cruising is still in its infancy.