Carnival aims to make Chinese cruise market biggest in world
Carnival Corporation & Plc is to form a joint venture in China to launch a top-class domestic cruise brand for the burgeoning Chinese market.
The world’s largest travel and leisure company is teaming up with China State Shipbuilding Corporation (CSSC) and the China Investment Corporation (CIC) with the specific aim of speeding up the development of the upmarket cruise industry in the world’s most populous nation. Indeed, TravelPulse.com says that it is only a matter of time before China becomes the globe's largest market for the cruise industry.
The consortium is planning to buy and operate cruise ships as part of a multi-fleet serving the domestic cruise industry. CIC, with funds of over US$740 billion, will be a significant investor in the venture which will help the long-term economic growth of the country.
Carnival Corporation & Plc Global COO, Alan Buckelew, said that while cruising was a relatively new holiday experience in China, he was confident that with the support of the partners, it would become one of the leading markets in the near future. The cruise firm announced early this year that Costa Cruises and Princess Cruises, its current brands already sailing within China, would continue to grow next year. The growth of the company’s China fleet to six ships was a 58% increase in capacity in China for 2016.