US Cruise Line Gross Revenues From Cuba Sailings Could Exceed US$500 Million By 2019
/Cruise Lines Could Deliver 380,000+ Passengers During 245 Sailings To Cuba In 2017/2018/2019
US$502+ Million In Gross Revenues To Companies From Cumulative 2017/2018/2019 Sailings
US$53+ Million Spent In Cuba By Passengers
US$14+ Million In Port Fees To Cuba
And, transporting, housing, and feeding those potential passengers could mean an additional US$110+ Million to United States airlines and US$45+ million to hotels and restaurants located in South Florida. Gross United States airline revenues for 2017, excluding the cruise-related revenues, are projected to be US$173 million for United States-Republic of Cuba routes.
The three (3) largest United States-based cruise lines have announced more than 222 itineraries amongst their brands for the 2017, 2018 and 2019 sailing seasons which include the Republic of Cuba. Additional itineraries are expected to be announced.
Are the CEO’s of the three largest United States-based cruise lines: Mr. Frank J. Del Rio (Miami, Florida-based Norwegian Cruise Lines Holdings Ltd), Mr. Arnold W. Donald (Miami, Florida-based Carnival Corporation & plc) and Mr. Richard D. Fain (Miami, Florida-based Royal Caribbean Cruises Ltd) presenting a dare to the President of the United States or enticing the President’s corporate salivary gland?
In 2016, the three-largest United States-based cruise lines combined operated a fleet of approximately 144 vessels, managed approximately 14 brands, earned approximately US$28.8 billion in gross revenues, and employed approximately 218,000 men and women.
If each of their vessels sail at capacity, approximately 372,000 passengers will visit the Republic of Cuba from 2017 through 2019. The gross revenues to the cruise lines from the 222 Republic of Cuba sailings would be projected to exceed US$450 million from 2017 through 2019.
The 372,000 passengers would be projected to spend approximately US$52 million while in the Republic of Cuba [approximately US$140.00 per person in expenditures and organized/non-organized excursions including cost(s) for tour(s), meals (government-operated and privately-operated), ground transportation (privately-operated classic car tours), sundries and souvenirs (including spirits, coffee, tobacco, artwork and crafts)]. Some passengers could spend considerably more (cigars for example) given the United States duty-free personal exemption of US$800 per person.
Vessel port charges in the Republic of Cuba may exceed US$14 million, ranging up to approximately US$79,000.00 for the largest vessels (684-passenger to 2,052-passenger).
Included in the calculations are Guilford, Connecticut-based Pearl Seas Cruises has eighteen sailings scheduled for 2017/2018 with projected gross revenues to the company of US$35 million, passenger expenditures in the Republic of Cuba of approximately US$529,000.00 and port fees of approximately US$180,000.00. Los Angles, California-based Viking River Cruises has five sailings scheduled for 2017 with projected gross revenues to the company of US$17 million, passenger expenditures in the Republic of Cuba of approximately US$651,000.00 and port fees of approximately US$225,000.00.
Related Links: http://www.cubatrade.org/blog/2017/5/11/51crppkum1ulnb9icv89r9b4y6ewjx
