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2/11/08 - Cruise industry nets increased economic benefit |
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The economic impact of the province’s cruise industry has surpassed the $10 million dollar mark according to an independent national study. Cruise Newfoundland and Labrador participated, along with other national partners, in the recent study conducted by Business Research and Economic Advisors (BREA). Preliminary results based on Newfoundland and Labrador’s 2006 cruise figures show that direct and indirect economic activity amounted to $10.1 million.
Stelman Flynn, Chair of Cruise Newfoundland and Labrador, says the study shows a more accurate picture of the value of cruise tourism because the research was very broad-based. “The most recent value of direct spending estimated by the Cruise Association was very close to the findings in the study at $5.4 million. It was especially gratifying to see that with the inclusion of the indirect benefits the economic impact nearly doubled.”
The BREA study looked at the primary sources of cruise-related spending, including cruise lines, cruise passengers and crew members. In addition, the research covered cruise related employment, business-to- business spending, supplies to the cruise industry, and both personal and business tax impacts. The national findings will be released in March at the Seatrade Exhibition in Miami.
Cruise Newfoundland and Labrador reports that cruise visitor numbers increased in 2007 to a total 55,500 passengers and crew and in 2008 the preliminary schedule shows an overall increase of approximately 10% or 61,000 passengers and crew making a total of 156 port calls throughout the province.
The Cruise Association of Newfoundland and Labrador is a non-profit organization funded through ACOA, the provincial Department of Tourism, Culture and Recreation along with key Newfoundland and Labrador Marketing Partners and members.
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