Cruise liner revenue reaches a record of all-time Highs

Cruise revenue reaches a record high: For the first time in the island’s history, cruise ship passenger revenue has soared to an all-time high this year, breaking the $200 million mark.

The estimated $221 million total economic impact of the 2023 cruise ship season represents an increase over the $154 million number from the previous year.

The amount also surpasses the receipts collected in 2018 and 2019, the pre-pandemic years, with totals of $148 million and $170 million, respectively.

It may have been greater if not for a hectic storm season that abruptly canceled numerous cruise ship visits.

The findings show that Bermuda has recovered from the Covid-19 pandemic of 2020 and 2021 when cruise ships were banned.

Mr. Furbert went on to say that changes made to the tax framework governing cruise ships have created new revenue streams without discouraging cruise lines from visiting the island.

Additionally, he stated that the island was currently benefiting from investments made in cruise ship infrastructure over ten years ago by the Progressive Labour Party government.

In total, 539,127 cruise ship visitors have visited the island this year; passenger and crew expenditures are expected to generate $168.7 million.

The total anticipated amount of these taxes is $24.7 million for passengers, $10.7 million for transportation infrastructure taxes, $6.9 million for visitor fees, and $10.4 million for port charges related to cruise ships.

Mr. Furbert states that the expected annual cumulative economic impact is $221.5 million.

He continued by saying that since the majority of cruise ships visited the island at nearly full capacity, the industry had restored its confidence in the island as a premier travel destination.

“The cruise ship season in Bermuda has proven to be remarkably resilient and continues to thrive,” stated Mr. Furbert last night.

“Bermuda, known for its breathtaking beauty and gracious hospitality, has recovered and adjusted, demonstrating its dedication to offering guests an amazing cruise experience.”

Mr. Furbert claimed that by encouraging smaller enterprises to pay for one-time trips in addition to frequent calls by large ships, as well as by luring liners here in the off-season, his team had been able to increase the number of cruise ship arrivals.

“The two main cruise lines that we work with are Norwegian and RCL, and they are the main sources of cruise visitors to our location,” he stated.

However, several other cruise lines, including Carnival Cruise Lines, Disney Cruise Lines, Scenic Luxury Cruises, Silver Sea Cruises, Saga Cruises, Star Cruises, and Azamara Cruises, made port calls in Bermuda in the interim between the trips of our two main partners.

“This increase in the number of infrequent callers and passenger spending highlights the effectiveness of our campaigns to position Bermuda as a top cruise destination all year round.”

“The Cabin Tax was phased out of 2019,” Mr. Furbert told us, adding that there was a $16 visitor fee substituted for it.

Also, $25 was imposed on transportation infrastructure. Passenger taxes on docked ships at Dockyard were raised to $25.

“There’s no doubt that the increase in passenger tax that we were able to work with the cruise industry to obtain in 2019, including an infrastructure tax and a visitors fee, is one of the main reasons for the increase in economic impact within the cruise industry.”

According to the minister, there were 37 cruise ship cancellations this year due to the unprecedented hurricane season.

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Hurricanes regularly hit our area, disrupting cruise plans immediately.

“The vision that Premier Ewart Brown had in 2009 is now helping us.”

“We wouldn’t have the cruise ships we do now if we hadn’t opened Dockyard, invested, and relied solely on the City of Hamilton. The government’s investment from that time is beginning to pay off.

By working hard, Bermuda has proven itself to be a top cruise destination by not only surviving the hurricanes but also emerging stronger.

“As we proceed, we must not lose sight of the need to maintain the security and happiness of every cruise visitor and to further establish Bermuda’s standing as an exceptional and long-lasting cruise destination.”

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