August 25, 2010

MAINE SEES INCREASE IN ECONOMIC BENEFIT FROM THE CRUISE INDUSTRY

The Cruise Lines International Association has released it’s annual economic impact report revealing Maine is one of the state’s whose economic impact benefit actually rose to over $35 mil in 2009, from $29 mil in 2008.

Maine’s economic impact actually rose from an estimated $29 mil in 2008, to over $35 mil in direct cruise industry spending.

• Maine accounted for $35 million in direct cruise industry spending.
• Cruise industry spending generated 637 jobs and $19 mil in income for Maine workers in 2009.
• In 2009, the average wage for Maine industry workers was $30,500.00.

For the industry as a whole in North America; the 2009 results reflect a reduction of the total economic impact from 2008.

These results are not surprising as they reflect the overall recessionary economic environment within the US and globally during 2009. The cruise industry did perform admirably during 2009 with an overall occupancy rate in excess of 104%. Factors contributing to these 2009 results include direct expenditures of the cruise lines, additional capacity deployment outside of U.S., passenger and crew spending as well as the indirect effects of expenditures, job and wage income of those businesses that are linked to the cruise industry, either primarily or in part.

However, the overall economic impact within the U.S. and in all 50 States remains significant. The top line statistics are:

• $35.1 billion in total economic benefit
• $17.2 billion in direct spending by the cruise lines and passengers on U.S. goods and services
• 313,998 total U.S. jobs generated by cruise expenditures
• $14.23 billion in total wages for U.S. employees

You can access a copy of the 2009 Cruise Industry Economic Impact Study Executive Summary, Full Report and State Sheets at http://www.cruising.org/vacation/pressroom-research/market-research.