The global cruise industry recorded 34.6 million passengers in 2024, with forecasts rising in 2025 despite global political changes and economic question marks.
That has increased by about 3 million people from the previous year.
“This is a sign of great optimism that we are not only growing, but we are all in great places in the future.
Darr said 2025 is expected to hit 37 million passengers, and by 2028 the expected curve of 42 million will continue to grow.
“It’s not only the optimism of the corporations that own the ship, but it’s also the optimism of the investment community that supports these extremely expensive long-term capital decisions,” he said.
He was joined on stage by corporate leaders from Carnival, Royal Caribbean, Norwegian Cruise Line and MSC Cruises for a meeting to celebrate his 40th year.
They admitted that there had been some ups and downs in the first three months of the year. The cruise industry calls it “wave season” when customers book future cruises.
“It was inconsistent, it was choppy,” said Josh Weinstein, president and CEO of Carnival. “It wasn’t something that normal waves were.”
He said coming in 2025, carnival companies, including Carnival Cruise Line, Princess Cruise, Netherlands America, all came in the year where they were booked at better prices than before.
“We had highs. We had lows as we went through this quarter,” Weinstein said. “I think what we found is, unfortunately, not rare in our business, but rather that the macroeconomics sometimes affects how people live their lives.”
It initially impacted this year, but the 2026 and 2027 cruises exceeded expectations.
“What happened was people get used to the new normal. They took it in and then the reservations were back again,” Weinstein said. “At the end of the day, we are not immune from the recession. We are not, but we are very resilient.”
He used the opportunity to pitch the industry’s hot topic. Cruise vacations are more valuable than athletics.
“When times are difficult, people are trying to move their money further away.
Pierfrancesco Vago, executive chairman of MSC Group’s Cruise Division, said the European market has similar customer interest.
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“The value of the money is there, people appreciate it,” Vago said.
With President Trump’s tariff war making headlines, cruise industry leaders have repeatedly said that politics and economy are declining, robbing the flow and working with the people their businesses are in charge.
“This is a limited period of administration, and typically, in midterm elections, voters react a little differently than they did in Presidential Year,” Dah said. “So it’s a bit of a compression on the timeline, and I think that’s part of the reason why the world feels like it’s changing so quickly, because I think (the Trump administration) has moved so quickly.
“But we’re keeping it. These gentlemen are here. We know it all. We do our job.”
Harry Somer, president and CEO of Norway’s Cruise Line Holdings, said that even if Cruising is in the White House, it will have a huge impact on the local economy.
“We are very liked in most communities,” Summer said he sources products from other regions, sailing from 17 states and two territories. “We’re in a position where we really have a lot of friends in so many different places.”
The cruise industry is still facing hurdles. That includes several communities, both in the US and worldwide, that have tried to limit the size of the vessels being called.
Jason Liberty, president and CEO of Royal Caribbean Group, said there is always room for compromise.
“We are very good listeners and we do a lot with our community. These communities express all the positives and also the opportunity is where we can better,” Liberty said. “Whether we’re attractive, whether it’s in the US or elsewhere in the world, we listen and educate them.”
It was particularly useful, he said, as it wasn’t just the US that saw new leaders who might not understand the benefits of the industry.
“If there’s this kind of turnover in a short period of time, there are many new people who aren’t educated or know everything that comes with it,” Liberty said. “We usually have that opportunity, but when we get those opportunities, we end up on the right side of that.”
Meanwhile, European regulations are driving industry efforts to capture zero carbon emissions by 2050, but solutions remain elusive.
“In the end, it’s really going to turn on three things,” Dah said. “Fuel, fuel, fuel. It’s not a lack of will. It’s not a lack of capital. Look at the order form.”
The cruise line has ordered 60 ships for nearly $6 billion. With a lifespan of at least 30 years for most people, their design includes engines that can run on future environmentally friendly fuels that have not yet reached the mass market.
“We’re not a business that produces new fuels and develops supply chains that don’t exist, allowing us to get to where we really want to go,” he said. “That will be an important factor.”
Dah said it is essential that everyone in the maritime community, whether it’s freight or cruise, keeps the government going with the message “no matter what ideology they come from.”
And despite the growing numbers worldwide, the US voyages of 17 million in 2024 accounted for almost half of its annual clients. This contributed to $65.4 billion in positions, with 290,000 jobs providing $25.3 billion in direct wages.
“We are a growing industry. We are a resilient industry. We operate responsibly. We are committed to doing things the right way and doing good all over the world and we know that it will continue,” Dah said.
