European Shipyards Dominate Global Cruise Ship Construction and Investment

According to the Cruise Lines International Association (CLIA), nearly all of the world’s cruise ships, 97%, are built in Europe, with 98% of ships on order also set to be constructed on the continent. The total investment in new cruise ships built in Europe from 2024 to 2036 is estimated to be €57 billion, with more orders expected in the future. Over the next 12 years, 72 out of 76 ocean cruise ships will be built in European shipyards, with Italy leading the way at 52.6%, followed by Germany at 15.8% and France at 13.2%.

European shipyards are at the forefront of cruise ship construction, representing 80% of the value of commercial ship orders in the region. This industry involves a wide range of European companies, from suppliers of steel hull plates to providers of hi-tech onboard equipment and interior design services. Additionally, many of the world’s cruise ships undergo retrofitting and refurbishment at European shipyards, showcasing the region’s expertise in maritime technology.

SeaEurope, the Shipyards’ & Maritime Equipment Association, reports that Europe is home to around 300 shipyards and over 28,000 maritime equipment manufacturers and technology providers. The cruise ship industry not only supports European jobs and economic growth but also helps maintain the region’s technical know-how in shipbuilding and industrial innovation. This expertise can be leveraged into military orders, contributing to the security of the continent.

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