Number of passengers carried by Royal Caribbean Cruises worldwide 2007-2023

The number of passengers carried by Royal Caribbean Cruises worldwide rose sharply in 2023 over the previous year, exceeding the figures reported before the coronavirus (COVID-19) pandemic. After declining to around one million in 2021 due to the impact of the health crisis, the number of passengers carried by the company reached 7.6 million in 2023, the highest figure to date. 

Has Royal Caribbean Cruises recovered from the impact of COVID-19?

As the number of passengers increased significantly in 2023, Royal Caribbean Cruises' global revenue followed the same trend. After reporting earnings of 1.5 billion U.S. dollars in 2021, the lowest figure since 1998, the company generated just under 14 billion U.S. dollars in 2023. Overall, Royal Caribbean's net income turned positive in 2023, after three years of significant net losses since the onset of the health crisis.

The three giants of the global cruise market

Royal Caribbean is among the leading players of the cruise industry worldwide, together with Carnival Corporation and Norwegian Cruise Line Holdings. In 2023, Carnival Corporation's global revenue reached the highest figure in the cruise market, amounting to over 21 billion U.S. dollars. Meanwhile, Norwegian Cruise Line's revenue worldwide surpassed eight billion U.S. dollars that year.