We’re proud to announce the release of our first Economic Impact Report. The new research, commissioned independently from WPI Economics, is the first of its kind to be independently researched and audited, using data from across Carnival Corporation & plc’s entire UK-based operations. The research shows that Carnival is projected to contribute more than £2.5 billion to the overall UK economy over the next five years.
Key findings include:
- Southampton turnarounds: Each time one of the Corporation’s largest ships homeports in the UK (i.e. returns to Southampton and departs with new guests) it contributes up to £2.5 million to the economy from supply chain and guest spending. With over 700 calls to the UK in 2024, carrying almost two million guests from across the brands, this turnaround value equates to £505 million per year. Over the next five years, the combined value to the UK economy is projected to exceed £2.5 billion.
. - Travel Agents: Carnival’s contribution extends to every local authority in the UK, with the Corporation’s cruise bookings made through local travel agencies and over £100 million generated annually in travel agent commission fees, underpinning the strength of their high street presence.
. - Tourism: Visits on cruise ships often precede repeat holidays taken in the UK by international guests. The potential future tourism value from returning international visitors created by Carnival Corporation’s cruises is predicted to benefit the economy by £147 million annually.
. - Local presence: Based on employment of 1,650 full time employees at Carnival UK’s headquarters in Southampton, the business contributes £351 million in Gross Value Added (GVA) to the local economy.
The report has received a fantastic response from important stakeholders across our industry:
Maritime minister Mike Kane said: “Our maritime sector is instrumental in building a diverse, resilient tourism sector and Carnival UK’s economic report is critical in setting out the multimillion-pound and widespread impacts generated across the UK’s economy. We are determined to support growth in coastal regions and have set out our ambitions to welcome 50 million international visitors per year by 2030 – many of which can come from maritime. These findings uncover the vital role the cruise sector plays in supporting this ambition, helping local businesses and economies while also opening up the UK to international visitors, often in hard-to-reach destinations unserved by other forms of tourism.”
MP for Southampton Itchen, Darren Paffey said: “This is a highly competitive global industry, so when a cruise line chooses Southampton, as Carnival has done, it’s a vote of confidence in our city, our port, and our people. As this report shows, each time a ship docks in our city, it brings in money to our local economy and helps support businesses and jobs. That’s why I was pleased to meet recently with representatives from all the cruise lines that have made Southampton their port of choice and it’s why I’ll continue to champion the contribution they make to the city and wider region.”
Associated British Ports’ regional director for Southampton, Alastair Welch said: “ABP warmly welcomes Carnival UK’s report. The numbers and case studies clearly demonstrate the huge value the cruise industry brings to Southampton, the wider Solent and indeed throughout the UK. At the Port of Southampton, Europe’s number one port for cruise turnaround calls, we’re proud to be playing such a vital enabling role in delivering such significant economic growth, jobs and social value in the city and region in which we operate.”
Founder of WPI Economics who produced the report, Matthew Oakley, said: “The benefits of Carnival UK’s operations provide a significant boost to Southampton’s economy and flow far beyond it out into the rest of the UK. From the investment in skills through to the boost to tourism now and in the future, these impacts make an important contribution to growth.”
Carnival UK & P&O Cruises president Paul Ludlow said:
“As the largest cruise operator in the UK, we are extremely proud that our organisation will be contributing over £2.5 billion to the overall UK economy over the next five years.
This is particularly important given our impact in the Solent where we are the largest private sector employer in Southampton, especially at a time when economic growth is of utmost importance to the country.”
