Expansion of cruise inbound demand

「The cruise industry is in a medium- to long-term growth phase, with the global cruise population continuing to expand. CLIA, the Cruise Lines International Association, forecasts that the global cruise population will reach 42.1 million in 2029. In Japan, the number of Japanese cruise passengers is expected to grow from approximately 243,000 in 2025 to approximately 1 million in 2030, and the demand base is steadily broadening.」

「According to the Ministry of Land, Infrastructure, Transport and Tourism's "Number of Cruise Passengers Visiting Japan and Number of Cruise Ship Port Calls (Preliminary 2024 Figures)," announced on 28 February 2024, the number of cruise passengers visiting Japan in 2024 (January to December) was 1.438 million, up 303.9% from 2023. The number of cruise ship port calls at Japanese ports was 2,479, up 31.3% year on year, comprising 1,923 foreign cruise ship calls and 556 Japanese cruise ship calls.」

「The number of Japanese cruise passengers in 2023 was 196,000, representing a recovery of only approximately 55% compared with the pre-pandemic 2019 level of 357,000.」

「In addition, in the cruise industry, customer demand has recovered steadily since foreign-flagged cruises departing from and arriving in Japan resumed operations in March last year.」

「Although the operating environment surrounding our company during the cumulative second quarter was not favorable, owing to the unstable international situation, yen depreciation and rising prices, demand has remained strong for foreign-flagged cruises to and from Japan, which resumed operations in March last year.」

「The business environment during the first quarter of the current consolidated cumulative period was unfavorable in some respects, including the continued depreciation of the yen, rising prices and concerns about downside risks to the global economy. Nevertheless, demand for foreign-flagged cruises departing from and arriving in Japan, which resumed operations in March this year, remained strong.」

「Meanwhile, in the cruise industry, foreign-flagged cruises departing from and arriving in Japan resumed operations from March, for the first time in approximately 3 years, providing signs of recovery.」

「During the cumulative consolidated period through the second quarter, the business environment surrounding the Company became even more unstable due to the increasing uncertainty in the global situation resulting from the situation in Ukraine and other factors, and higher resource and raw material prices. However, the Ministry of Land, Infrastructure, Transport and Tourism’s announcement on 15 November 2022 of the “Resumption of Acceptance of International Cruises” marked significant progress toward recovery, including increasing the likelihood that foreign-flagged cruises departing from and arriving in Japan, whose operations had been forced to stop, would resume.」

「In Japan's cruise market, bookings steadily accumulated for foreign-flagged cruises to and from Japan, including Diamond Princess departures from March to November 2023 and MSC Bellissima departures during Golden Week. In addition, the Ministry of Land, Infrastructure, Transport and Tourism's announcement on 15 November that Japan would resume accepting international cruises increased the likelihood that the company's core foreign-flagged cruises to and from Japan would operate, resulting in further bookings.」

「Foreign-flagged services to and from Japan have still not resumed. However, operations have normalized in most regions and countries overseas, and boarding restrictions are being eased, so we expect services to resume around the year-end and New Year period. For cruises departing from overseas, the situation has largely recovered from the adverse effects of COVID-19, with bookings at some cruise lines rising to almost twice pre-pandemic levels.」

「In Japan's cruise market, the 3 Japanese cruise lines Asuka II, Nippon Maru and Pacific Venus have continued operating while monitoring the spread of COVID-19. However, foreign cruise lines had still not resumed cruises to and from Japan, and Princess Cruises and Costa Cruises had announced the cancellation of all cruises scheduled to operate in 2022. MSC Cruises was preparing and coordinating for MSC Bellissima cruises to and from Japan beginning in July. The global cruise market has been normalizing faster than the Japanese market, with some cruise lines bringing all of their vessels into operation. In addition, demand for overseas cruises has gradually increased as Japan has eased its border restrictions.」

「In Japan’s cruise market, the three Japanese cruise lines Asuka II, Nippon Maru and Pacific Venus have continued operating while monitoring the spread of COVID-19. Meanwhile, foreign-flagged cruises departing from and arriving in Japan operated by Princess Cruises, Costa Cruises and others have yet to resume, although preparations continue. The Company expects cruises for which routes have been announced, including Diamond Princess cruises departing from 14 June 2022 onward and Costa Serena cruises departing from 16 July 2022 onward, to operate as scheduled.」

「In Japan’s cruise market, the three Japanese cruise lines Asuka II, Nippon Maru and Pacific Venus have continued intermittent operations while monitoring the spread of COVID-19. Meanwhile, foreign-flagged cruises departing from and arriving in Japan operated by Princess Cruises, Costa Cruises and others have yet to resume, although preparations are underway. Princess Cruises announced the operating schedule for Diamond Princess from March through November 2023, and Costa Cruises announced the operating schedule for Costa Serena from April through August 2022. Overseas, positive news has increased, including Carnival, the world’s largest cruise operator, announcing that bookings for cruises in the second half of 2022 exceeded pre-pandemic levels.」

「According to the Ministry of Land, Infrastructure, Transport and Tourism’s “Number of Inbound Cruise Passengers and Port Calls by Cruise Ships (Preliminary 2020 Figures),” the number of foreign visitors entering Japan by cruise ship fell to 126,000 in 2020, down 94.1% year on year, due to the significant impact of the spread of COVID-19. The Company expects the market to recover from 2022 onward and re-enter a growth phase.」

「The 3 Japanese cruise ships Asuka II, Nippon Maru, and Pacific Venus gradually resumed operations from November 2020, but the situation has remained unsettled due to repeated declarations of a state of emergency and voluntary suspension of operations following positive PCR test results among passengers.」

「In Japan’s cruise travel market, the three Japanese cruise lines Asuka II, Nippon Maru and Pacific Venus successively resumed operations from November, and the Company received numerous bookings because the cruises qualified for the Go To Travel Campaign. However, the campaign was suspended nationwide from the end of December, and a state of emergency was reissued in January, causing all three Japanese cruise lines to suspend operations.」

「In Japan's cruise market, the 3 Japanese cruise lines Asuka II, Nippon Maru and Pacific Venus successively announced the resumption of operations from late September to early October, and operations actually resumed from November onward.」

「In Japan's cruise travel market, during the first half (August 2019 to January 2020), Princess Cruises and Costa Cruises operated cruises to and from Japan year-round, except during certain periods. Other foreign cruise lines also increased seasonal services targeting the peak season, including extended holiday periods, increasing opportunities to board foreign cruise ships from Japan and driving the popularity of cruises. Our company also recorded its highest-ever sales for the period. However, in the second half (February to July 2020), the COVID-19 pandemic broke out, causing cruises worldwide to be suspended across the board and leaving the company with no sales. Meanwhile, MSC Cruises and Costa Cruises resumed operations in parts of Europe from August 2020, and signs of recovery have begun to emerge.」

「In the cruise travel market, following a mass infection aboard the Diamond Princess in early February, cruise operations in East Asia were successively suspended. From March onward, as the center of the outbreak shifted to Europe and the United States, almost all cruises worldwide have now been cancelled.」

「The economy recovered moderately, supported by increased domestic demand ahead of the 2020 Tokyo Olympics and inbound demand. In Japan's cruise travel market, Princess Cruises and Costa Cruises operated cruises to and from Japan year-round, except during certain periods, while other foreign cruise lines also increased seasonal services targeting the peak season, including extended holiday periods, increasing opportunities to board foreign cruise ships from Japan.」

「In Japan's cruise travel market, Princess Cruises and Costa Cruises operated cruises to and from Japan year-round, except during certain periods, while other foreign cruise lines also increased seasonal services targeting the peak season, including extended holiday periods. As a result, opportunities to board foreign cruise ships from Japan increased, and Japan's cruise population reached 321,000, up 1.8% year on year. This was a record high and the second consecutive year above 300,000 (Ministry of Land, Infrastructure, Transport and Tourism, "Trends in Cruises and Other Activities in Japan in 2018").」

「In Japan’s cruise travel market, Princess Cruises and Costa Cruises operate Japan-originating cruises year-round, except during certain periods, while other foreign cruise lines are increasingly offering spot sailings targeting peak seasons such as extended holiday periods. As a result, opportunities to board international cruises from Japan are becoming more readily available. Japan’s cruise population reached 315,000, up 27.0% year on year, a record high (Ministry of Land, Infrastructure, Transport and Tourism, “Trends in Cruises and Other Activities in Japan in 2017”).」

「As a result, Japan's cruise population reached 315,000, up 27.0% year on year, a record high (Ministry of Land, Infrastructure, Transport and Tourism, "Trends in Cruises and Other Activities in Japan in 2017").」

「The same survey also showed that the number of cruise passengers visiting Japan in 2017 was 2.53 million, up 27.0% year on year, while the number of cruise ship port calls in Japan rose 37.0% to 2,764.」

「The same survey also showed that the number of cruise passengers visiting Japan in 2017 was 2.53 million, up 27.2% year on year, while the number of cruise ship port calls in Japan rose 37.1% to 2,765.」

「According to the Ministry of Land, Infrastructure, Transport and Tourism, the number of cruise passengers visiting Japan in 2017 was 2.53 million, up 27.2% year on year, while the number of cruise ship port calls in Japan rose 37.1% to 2,765.」