STATISTICS AND MARKETS

2015

1 European cruise market by country, 2011-2015 2 Market share and passenger growth by country, 2015 3 European market growth rates by country, 2011- 2015 4 European cruise market by destination, 2011-2015 5 Cruise market comparisons by country, 2015 6 Estimated cruise share of outbound holiday bed nights by selected countries, 2015 7 UK and Ireland 8 Germany 9 Italy 10 France 11 Spain 12 Netherlands 13 Belgium 14 Scandinavia (Including Finland) 15 Greece 16 Cruise Lines

CLIA Statistics – 2015

1. European cruise market by country, 2011-2015

Passengers (000s) 2011 2012 2013 2014 2015 % change

2014/2015

Germany 1,388 1,544 1,687 1,771 1,813 2.4 UK and Ireland 1,700 1,701 1,726 1,644 1,789 8.8 Italy 923 835 869 842 810 -3.9 France 441 481 522 593 615 3.6 Spain 703 576 475 454 466 2.8 Scandinavia (incl. Finland) 306 324 289 305 351 14.9 Switzerland 121 131 152 143 140 -2.2 Austria 104 108 126 122 113 -7.1 Netherlands 98 110 114 109 106 -2.6 Belgium/Luxembourg 61 59 72 77 69 -10.4 Other* 224 270 325 327 315 -3.7 Total 6,068 6,139 6,357 6,387 6,587 3.1

* Other European markets and those not specified Source: CLIA Europe/IRN Research

European Cruise Market, 2011 - 2015

6,700 6,587 6,600 6,500 6,387 6,400 6,357 6,300 6,200 6,139 Pax 000s 6,068 6,100 6,000 5,900 5,800 2011 2012 2013 2014 2015

CLIA Europe Statistics – 2015

2. Market share and passenger growth by country, 2015

Additional Passengers (000s) Market Share passengers 2014 2015 2015 2015 % change % 000s 2014/2015

Germany 1,771 1,813 28 42 2 UK and Ireland 1,644 1,789 27 145 9 Italy 842 810 12 -32 -4 France 593 615 9 22 4 Spain 454 466 7 12 3 Norway 176 209 3 32 18 Switzerland 143 140 2 -3 -2 Austria 122 113 2 -9 -7 Netherlands 109 106 2 -3 -3 Sweden 79 86 1 7 9 Belgium 73 65 1 -8 -10 Denmark 38 43 1 5 13 Other 343 331 5 -12 -3 TOTAL 6,387 6,587 100 199 3

Source: CLIA Europe/IRN Research

Main European Cruise Markets, Pax 000s - 2011-2015

2,000 Germany 1,800 UK 1,600 1,400 1,200 Italy 1,000

Pax 000s 800 France 600 400 Spain 200 0 2011 2012 2013 2014 2015

CLIA Europe Statistics – 2015

3. European market growth rates by country, 2011- 2015

Annual growth 5 year rate (%) 2011 2012 2013 2014 2015 average 2011-2015

Austria 11.9 3.8 17.6 -3.5 -7.1 4.5 Benelux 25.9 6.2 10.7 -0.2 -6.1 7.3 France 13.9 9.0 8.7 13.7 3.6 9.8 Germany 13.9 11.2 9.2 5.0 2.4 8.3 Italy 3.8 -9.4 4.0 -3.1 -4.0 -1.7 Scandinavia 8.0 6.0 -10.9 5.6 14.9 4.7 Spain 8.9 -18.1 -17.6 -4.3 2.7 -5.7 Switzerland 33.8 8.1 15.7 -5.9 -2.2 9.9 UK and Ireland 4.8 0.1 1.5 -4.9 8.8 2.1 Other* 5.5 20.9 20.2 -0.6 -3.0 8.6 TOTAL 9.0 1.2 3.5 0.4 3.0 3.4

*Other European markets and those not specified Source: CLIA Europe/IRN Research

12.0 10.0 Five year average growth rate by country, 2011-2015 8.0 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 -8.0

CLIA Europe Statistics – 2015

4. European cruise market by destination, Pax (000s), 2011-2015

% Change

Passengers (000s) 2011 2012 2013 2014 2015 2014-2015

Mediterranean and Atl. Is. 3,651 3,456 3,574 3,433 3,443 0.3 Northern Europe 1,216 1,333 1,385 1,376 1,492 8.4 and the rest 1,201 1,350 1,400 1,578 1,652 4.7

TOTAL 6,068 6,139 6,357 6,387 6,587 3.1

Source: CLIA Europe/IRN Research

CLIA Europe Statistics – 2015

5. Cruise market comparisons by country, 2015

Total Bed Average Population Pax/1000 Pax 000s Nights 000s Nights (millions)* Population

Norway 209 615 2.9 5.2 40 UK and Ireland 1,789 19,816 11.1 65.1 27 Germany 1,813 15,750 8.7 81.5 22 Switzerland 140 1,252 9.0 8.3 17 Austria 113 951 8.4 8.7 13 Italy 810 6,231 7.7 60.7 13 Spain 466 3,383 7.3 46.4 10 France 615 4,825 7.8 64.5 9 Sweden 86 597 6.9 9.8 9 Belgium 65 557 8.6 11.3 6 Denmark 43 305 7.1 5.7 6 Netherlands 106 1,028 9.7 17.0 6 Others 331 2,341 7.1 467.4 1 Average/Total 6,587 57,575 8.8 851.6 8 *Populations taken from Wikipedia Source: CLIA Europe/IRN Research

CLIA Europe Statistics – 2015

6. Estimated cruise share of outbound holiday bed nights by selected countries, 2015

Outbound holiday Cruise bed nights Cruise Bed Nights % of outbound bed Bed Nights (000s) nights Millions

Italy 6,231 93.2 7% Spain 3,383 91.3 4% UK 19,816 546.5 4% France 4,825 211.7 2% Germany 15,750 745.6 2% Austria 951 65.9 1% Belgium 557 85.5 1% Netherlands 1,028 168 1% Denmark 305 54.6 1% Finland 98 49.6 0%

Outbound holiday bed nights from Eurostat Click here Source: CLIA Europe/IRN Research

CLIA Europe Statistics – 2015

7. UK and Ireland

UK and Ireland - Breakdown by destination (Pax 000s), 2011–2015

Area 2011 2012 2013 2014 2015 % diff UK-Port Cruises 14-15 - Mediterranean 288 262 203 172 190 10 - Norway 133 163 218 130 110 -16 - UK - Western Europe 104 153 183 209 252 21 - Atlantic Islands 72 82 100 84 141 67 - Baltic 53 61 68 70 54 -23 - Round Britain 23 20 27 21 21 0 - Line Voyages 28 20 15 15 20 40 - Caribbean 17 27 16 15 15 5 - Other areas (Greenland, USA, etc.) 10 16 14 18 28 54 - Charter 1 2 0 5 8 UK-Port Cruises 729 807 844 739 840 14 Fly Cruises

- Mediterranean Total 479 436 440 441 482 9 - Caribbean/Bahamas/Bermuda 222 162 167 191 220 16 - Atlantic Islands 45 63 61 67 48 -29 - Indian Ocean, Red Sea, Persian Gulf 46 45 41 8 13 70 - Norway (pre 2009 in Baltic) 20 32 24 25 18 -30 - Round the World and sectors 25 29 25 28 21 -26 - Far East/Australia 21 24 26 34 43 25 - Alaska 23 21 19 19 21 12 - Baltic 9 13 11 12 11 -4 - W.Coast/Mex/Hawaii 12 14 13 18 11 -37 - Trans Panama Canal 17 9 4 7 6 -19 - Transatlantic – repositioning 24 20 25 36 33 -10 - 10 8 11 8 9 4 - East Coast 10 6 6 7 5 -21 - Other areas (Arctic, Pacific, etc) 8 11 9 5 8 72 - Charter 1 0 0 0 0 36 Total Fly Cruises 971 894 883 905 949 5 Total 1,700 1,701 1,726 1,644 1,789 9 Source: IRN Research – UK AND IRELAND CRUISE MARKET 2015

In 2015, the UK and Ireland ocean cruise market had its highest growth rate for 8 years, recording an increase of 9% or 145K more passengers in 2015 compared with 2014. 2015 had followed several years of slow growth as the industry adjusted to a challenging economic climate which forced lower levels of new ship investment for the UK market while the withdrawal of international capacity from European destinations to the Caribbean also dampened growth.

CLIA Europe Statistics – 2015

The 2015 surge in passenger numbers was due primarily to the launch of P&O Cruises’ Britannia and basing the Royal Caribbean International’s Anthem of the Seas at Southampton between May and October. Cruise & Maritime Voyages has also introduced Magellan and Princess Cruises’ Royal Princess returned to Southampton for spring and summer 2015.

The UK growth in 2015 outpaced that of the European market leader, Germany, but it was not sufficient to take the UK back to being the leading source market in Europe. Germany maintained its 28% market share while the UK increased its share from 26% to 27% However, measured in terms of bed nights, the UK and Ireland market is still the largest market in Europe with 18.9 million bed nights compared with the German total 15.8 million bed nights. On average UK and Ireland cruises at 10.6 nights are longer than German market cruises (8.7 nights) and the European average of 8.8 nights.

Trends in the UK and Ireland ocean cruise market can often be pinned down to the changes in market capacity and with less capacity increases scheduled for the market in 2016, it is unlikely that we will see as high growth in 2016 as we did in 2015, Nevertheless, the indicators are that the market has a solid base with a consistent first time cruiser percentage and the opportunity to raise the level of multiple cruise taking in the year to the higher levels seen in previous years.

The 9% growth in passengers in 2015 was accompanied by a 3% increase in average revenue per passenger. This should underpin some organic growth for 2016.

Republic of Ireland - Breakdown by destination (Passengers), 2011–2015

% Passengers 2011 2012 2013 2014 2015 Growth % share 14/15 2015

Mediterranean 27,766 28,047 20,331 16,800 21,475 28 60 Caribbean/Bermuda 7,673 5,889 7,041 7,800 8,022 3 22 Scandinavia/Baltic 1,773 2,374 2,711 2,698 2,389 -11 7 Atlantic Island 909 1,213 1,259 1,482 1,278 -14 4 Red Sea/Persian Gulf 595 1,101 1,186 4 0 -100 0 UK/West Europe 357 33 1,037 215 441 105 1 Alaska 600 594 580 619 535 -14 1 Far East/Australia 155 231 259 620 464 -25 1 East/West Coast/Panama 363 205 244 108 262 143 1 Other Cruises 1,589 427 892 1,177 1,106 -6 3 Total 41,780 40,114 35,440 31,523 35,972 14 100

Source: IRN Research – UK AND IRELAND CRUISE MARKET 2015

CLIA Europe Statistics – 2015

The Irish ocean cruise market rebounded at a higher rate than the UK market with a 14% increase in passengers to reach nearly 36K passengers in 2015. The Irish market is dominated by the Mediterranean as a destination which accounted for 60% of the Irish market in 2015. The Caribbean is the second most popular destination with nearly a quarter (22%) of passengers.

CLIA Europe Statistics – 2015

8. Germany

Germany continues to grow as a source market for cruise passengers. Although the capacity dedicated to the German market continues to increase, the rate of expansion has slowed down in recent years. The decline in capacity growth is the result of expansion among German national brands being offset by a reduction in capacity among the international brands. Data collected for 2015 shows that the growth in passengers sourced from Germany has slowed from 5.02% in 2014 to 2.34% in 2015.

German passengers predominantly purchase cruises from German national brands. During 2015, 68% of passengers were sourced from Germany purchased cruises from the German national brands while the remaining 32% cruised with the international brands. Although German passengers visit destinations around the globe, European destinations still dominate the cruise itineraries purchased by the passengers sourced from Germany. However, the percentage of German passengers cruising on European itineraries fell from 80% in 2014 to 76% in 2015.

The major findings of the research into the 2015 German cruise market is shown below German national and international cruise brands sourced just over 1.81 million German nationals. This was a 2.34% increase from the 1.77 million passengers sourced during 2014 and represented a new high for the German cruise market.

Germany - Breakdown by destination (Passengers 000s), 2011–2015

Passengers (000s) 2011 2012 2013 2014 2015 % Growth % share 14/15 2015

Mediterranean 475 504 565 569 566 -1 31 Scandinavia 235 262 245 221 217 -2 12 Caribbean/USA 187 214 164 179 205 15 11 Atlantic Islands 175 156 165 198 207 5 11 Baltic Sea 107 134 160 158 165 4 9 Rest of the World 210 274 388 446 452 1 25

TOTAL 1,389 1,544 1,687 1,771 1,813 2 100 Source: CLIA Europe/CLIA Germany/BREA/DRV

CLIA Europe Statistics – 2015

9. Italy

Italy - Breakdown by destination (Passengers 000s), 2011–2015

% % Passengers (000s) 2011 2012 2013 2014 2015 Change Share

14/15

Mediterranean / Black Sea 752 684 723 669 608 -9 75 North Europe/West Europe 71 59 59 72 78 8 10 Caribbean / Bermuda 36 35 31 46 42 -7 5 Atlantic Islands < < < < 37 5 Indian Ocean/Red Sea/Arabian Gulf 28 30 29 24 27 15 3 Transatlantic 20 18 18 7 7 4 1 Far East/Australia 2 2 2 2 2 -3 0 South America 1 1 1 1 1 -9 0 Charters - Incentives etc. 5 0 0 5 0 0 Other 7 5 6 18 8 -54 1 Total 923 835 869 842 810 -4 100 Source: CLIA Europe/IRN Research

After years-long growth, the Italian ocean cruise market reached a peak in 2011, with 923,000 passengers. The following year the Costa Concordia accident had a significant impact on demand which partly recovered in 2013 before falling off again in 2014 and 2015. The decrease of the number of Italian passengers to the Mediterranean (-9% in 2015) resulted in an increase of North / West Europe as a destination (+8% to 78,000 passengers). The decline of the area is partially explained by a reshaping of the cruise offering and deployment due to both current political developments in the Eastern part of the Mediterranean and to infrastructural and regulatory issues such as the one affecting Venice, the most important Mediterranean cruises’ home part. Despite this decline, the Italian Market keeps being dominated by the Mediterranean as a destination with 75% of passengers in 2015.

CLIA Europe Statistics – 2015

10. France

The French cruise market reached a new record exceeding the symbolic milestone of 600,000 ocean-going passengers. With a lower growth than the previous year (almost 4% in 2015), and with no added capacity out of French ports, the French market nevertheless consolidates its position as the fourth source market in Europe with 22.000 additional guests, within a troubled in an economic climate and tensed geopolitical situation.

The events in Paris in January had a negative effect deferring some reservations initially planned on summer. The French cruise market registered an average growth of 8% per year over the last 5 years, making it one of the most resilient markets to the crisis in the European cruise industry.

The Mediterranean decreased by 1% but remains the favorite destination of French cruise passengers (61%). The Caribbean has a strong growth of 15%, as Northern Europe, which grew by 13% compared to 2014. It should be noted that some distant destinations such as the polar regions, cruises around the world (and segments of world cruises) and cruises in the Indian Ocean and the Gulf are all progressing in a significant way (respectively +62%, + 37%, + 80%). The Atlantic islands (Canaries, Madeira) also progressed strongly between 2014 and 2015.

The average duration of a cruise remains unchanged to 7.8 nights for French passengers, representing a total of 4.8 million bed nights in 2015. With a penetration rate of 0,9% of its population, the outlook of the French market growth is among the most important in Europe.

France - Cruise Passengers (000s) by main area, 2011-2015

% % Pax 000s 2011 2012 2013 2014 2015 Change Share 14/15

Mediterranean / Black Sea 305 325 362 376 372 -1 61 Caribbean / Bermuda 43 59 73 102 117 15 19 Northern Europe/West Europe 41 49 41 60 67 13 11 Atlantic Islands < < < 2 16 794 3 Transatlantic 11 11 12 12 12 2 2 Indian Ocean/Red Sea/Arabian Gulf 9 7 4 4 8 80 1 Poles 1 1 2 4 7 70 1 Far East/Australia 3 4 2 4 4 11 1 South America 2 2 2 4 3 -18 0 Round World and sectors 4 2 3 2 3 37 0 Other 2 4 3 5 2 -57 0 East Coast USA 1 2 2 2 3 109 1 West Coast USA/Mexico/Hawaii/Pananma 2 1 1 1 1 -38 0 Charters - Incentives etc. 16 15 14 17 0 -100 0 Total 441 481 522 593 615 4 100 Source: CLIA Europe/IRN Researc CLIA Europe Statistics – 2015

11. Spain

After several years of continuous contraction, the Spanish source market grew again in 2015 by almost 3%. This was despite the exit of the number two player in the cruise market in terms of passengers, IberoCruises, in 2015. This recovery is probably due to the improvement in consumption of the Spanish economy; with more disposable income in most households and positive expectations for the next few years.

The 2015 sales season also marked a turning point to the last-minute-sales pattern seen in the last few years with more robust early booking campaigns than seen in previous years. After the strong restructuring conducted on the supply side by cruise lines, prices also saw an upward trend during last year for most cruise lines.

The Spanish market is concentrated on the Mediterranean as a destination with almost three quarters of Spanish passengers on Mediterranean itineraries. However, 2015 saw robust growth in Northern European and Caribbean cruises which seems to indicate an interest from repeat customers to explore new destinations as well as a stronger appetite for more expensive holiday options by cruise guests as the economic situation improves.

Spain – Cruise Passengers (000s) by main area, 2011 – 2015

% % Destination 2011 2012 2013 2014 2015 Change Share 14/15

Mediterranean / Black Sea 572 437 355 343 339 -1 73 Northern Europe/Western Europe 82 82 81 72 80 10 17 Caribbean / Bermuda 20 10 13 16 18 13 4 Transatlantic 3 4 9 3 5 45 1 Atlantic Islands 16 9 4 3 3 9 1 Far East/Australia 2 1 1 1 2 60 0 South America 1 1 1 1 2 37 0 Alaska 1 1 1 1 2 15 0 Charters - Incentives etc 0 20 1 1 0 -100 0 Other 6 10 7 9 17 93 4 Total 703 576 475 454 466 3 100

Source: CLIA Europe/IRN Research

CLIA Europe Statistics – 2015

12. The Netherlands.

The Netherlands - Cruise Passengers (000s) by main area, 2011-2015

2011 2012 2013 2014 2015 % % Netherlands - Passengers (000s) Change Share 14/15 2015

Mediterranean / Black Sea 47 38 46 37 39 6 37 Northern Europe 16 34 32 33 30 -8 28 Caribbean / Bermuda 16 15 14 16 13 -19 12 Indian Ocean Arabia 5 6 5 6 6 0 6 Atlantic Islands 2 6 5 2 5 120 5 Transatlantic 4 3 4 4 2 -53 2 Far East/Australia 1 1 2 3 3 0 3 Alaska 2 1 1 1 1 9 1 West Coast/Mexico/Hawaii/TransCanal 2 2 1 1 1 -27 1 East Coast/St Lawrence 0 1 1 1 1 11 1 Poles 1 1 1 1 2 162 2 South America 1 1 1 1 1 38 1 Round the World - Including sectors 0 0 1 0 0 -59 0 Not Specified /Other 2 1 1 2 1 -41 1 Total 98 110 114 109 106 -3 100 Source: IRN Research/CLIA Europe

In 2015, the Netherlands suffered another drop in its cruise market with a 3% decrease in passengers to from 109K to 106K. This was despite 6% growth in the most popular destination, the Mediterranean, to reach 37K passengers. Northern Europe and the Caribbean declined by 8% and 19% respectively as they spearheaded the decline in the Dutch market.

CLIA Europe Statistics – 2015

13. Belgium

Belgium - Cruise Passengers (000s) by main area, 2011-2015

% % 2011 2012 2013 2014 2015 Change Share 14/15 2015

Mediterranean / Black Sea 34 28 41 37 33 -12 50 Northern Europe 8 10 11 17 12 -30 18 Caribbean / Bermuda 6 6 7 8 7 -10 11 Transatlantic 1 3 2 2 3 50 5 Indian Ocean Arabian Gulf 0 2 2 3 3 25 5 Far East/Australia 1 1 1 2 1 -8 2 South America 1 1 1 1 1 54 2 UK/West Europe 0 0 2 0 1 36 1 Not Specified Other 4 3 4 4 1 -78 1

Total 57 55 69 73 65 -10 100

Source: IRN Research/CLIA Europe

Against strong growth in 2013 into 2014, the Belgian cruise market declined by 10% in 2015 to 65K passengers. The decline was across all major destination sectors with a 12% decline to the Mediterranean, 30% decline to Northern Europe and 10% decline to the Caribbean. The Belgian market is relatively concentrated with over 70% of the market in the hands of the top three market leaders.

CLIA Europe Statistics – 2015

14. Scandinavia (Including Finland)

Following a small decline in 2014, the Danish ocean cruise market grew strongly in 2015 with a 13% increase in passengers to reach nearly 43K passengers. There were gains across all the major destination sectors with 10% increase in passengers to Northern Europe, a 34% increase to the Mediterranean and a 29% increase in passengers to the Caribbean. Two thirds of the Danish market is accounted for by the top three cruise lines.

Denmark - Cruise Passengers by main area, 2011-2015

% %

2011 2012 2013 2014 2015 Change Share 14/15 2015

North Europe 16,903 17,582 15,979 15,754 17,387 10 41 Mediterranean 8,773 8,566 8,753 6,660 8,940 34 21 Caribbean 6,004 7,008 6,007 6,871 8,855 29 21 Indian Ocean 716 1,466 1,321 751 1,104 47 3 Far East 606 572 834 1,261 1,087 -14 3 Transatlantic 854 2,474 1,527 1,340 1,135 -15 3 South America 115 260 424 308 440 43 1 West Coast 483 650 806 1,204 916 -24 2 Atlantic Islands 350 643 498 267 161 -40 0 Other 596 1,769 2,161 3,329 2,655 -20 6

Total 35,400 40,990 38,310 37,745 42,680 13 100 Source: IRN Research/CLIA Europe

Following a year when the Finnish ocean cruise market halved, a positive increase of 11% to exceed 5K passengers was recorded by the market. The market was dominated by Kristina Cruises until 2013 when it left the market. The top three operators account for 80% of the market.

Finland - Cruise Passengers by main area, 2011 – 2015

% %

2011 2012 2013 2014 2015 Change Share 14/15 2015

Caribbean 2,493 3,032 3,359 4,355 5,033 16 37 Mediterranean 10,149 7,618 10,013 4,898 4,814 -2 36 North Europe 3,243 5,031 5,776 1,517 1,949 28 14 Far East 182 166 259 430 537 25 4 Indian Ocean 1,958 286 221 257 311 21 2 Transatlantic 540 2,231 2,165 241 175 -27 1 Atlantic Islands 2,044 2,410 1,326 61 175 187 1 West Coast 53 23 116 77 102 32 1 South America 17 13 32 76 98 29 1 Other 660 157 1,156 289 399 38 3

Total 21,339 20,967 24,423 12,201 13,522 11 100 Source: IRN Research/CLIA Europe

CLIA Europe Statistics – 2015

The Norwegian cruise market is dominated by 81% of cruises in North Europe, particularly to Norway.

Norway - Cruise Passengers by main area, 2011-2015

% % 2011 2012 2013 2014 2015 Change Share 14/15 2015

North Europe 132,931 135,710 95,660 137,802 168,641 22 81 Mediterranean 25,791 24,608 25,090 18,492 18,070 -2 9 Caribbean 13,208 13,023 13,515 14,858 16,077 8 8 Indian Ocean 452 1,946 2,562 413 807 95 0 Far East 690 969 606 821 1,017 24 0 Transatlantic 504 657 913 1,407 996 -29 0 South America 503 287 195 161 234 45 0 West Coast 545 431 545 609 418 -31 0 Atlantic Islands 527 1,435 717 668 193 -71 0 Other 511 1,383 1,168 1,089 2,308 112 1

Total 175,662 180,449 140,971 176,320 208,761 19 100 Source: IRN Research/CLIA Europe

In 2015, the Swedish market increased by 9% overall to reach 86K passengers. Caribbean cruises spearheaded the growth with a 29% increase in cruises to nearly 23K passengers. The Mediterranean with 33% share and North Europe with 30% of passengers are still the most popular destinations.

Sweden - Cruise Passengers by main area, 2011 – 2015

% % 2011 2012 2013 2014 2015 Change Share 14/15 2015

Mediterranean 27,628 28,458 33,515 27,439 27,954 2 33 North Europe 28,748 31,741 26,613 24,784 25,318 2 30 Caribbean 11,933 12,230 13,496 17,674 22,712 29 27 Transatlantic 1,068 2,128 2,189 2,531 2,281 -10 3 Indian Ocean 749 2,793 3,345 1,809 2,061 14 2 Far East 540 644 722 795 983 24 1 West Coast 473 458 533 643 517 -20 1 South America 381 473 372 389 393 1 0 Atlantic Islands 276 1,910 1,914 805 215 -73 0 Other 1,840 1,100 2,448 1,918 3,108 62 4

Total 73,636 81,935 85,147 78,787 85,542 9 100 Source: IRN Research/CLIA Europe

CLIA Europe Statistics – 2015

15. Greece

Greece - Cruise Passengers by main area, 2011 – 2015

% 2011 2012 2013 2014 2015 Change % Share 14/15 2015

Mediterranean/Black Sea 25,598 17,081 14,884 16,674 13,912 -17 87 Caribbean/Bermuda 1,201 824 822 848 827 -2 5 North Europe 576 551 508 422 693 64 4 Far East 36 112 140 73 151 107 1 Indian Ocean 260 99 75 34 75 121 0 Transatlantic 75 207 53 22 13 -41 0 South America 25 29 39 49 29 -41 0 Atlantic Islands/Canaries 50 55 36 19 76 300 0 West Coast Mexico. 29 23 23 28 28 0 0 Other 176 117 163 272 137 -50 1

Total 28,026 19,098 16,743 18,441 15,941 -14 100 Source: IRN Research/CLIA Europe

The Greek cruise market is still operating under the country’s dire public sector finances and the sweeping austerity measures that have been introduced as part of EU bailout packages. The market fell by 14% in 2015 to dip below 16K passengers.

The Greek cruise market is highly concentrated in terms of destination with approximately 90% of the market historically accounted for by Mediterranean / Black Sea cruises. This is a trend that is expected to continue over the next few years given the comparatively higher cost of long-haul fly cruises in this cost sensitive era of the market.

CLIA Europe Statistics – 2015

16. Participating Cruise Lines

Aida Cruises Holland America Line Salamis* Australis Hurtigruten Seabourn Cruises Azmara Cruises Island Cruises Sea Cloud Cruises Captain Cook Cruises* MSC Crociere Seadream Yacht Club Carnival Cruise Lines Noble Caledonian* Croisieres de France Norwegian Cruise Line Spirit of Adventure Celestyal Cruises Oceania Skorpios* Passat Kreuzfahrten St Helena Line Ltd Club Mediterranean* Paul Gauguin Star Clippers Cruises* Costa Crociere s.p.a. P&O Cruises Swan Hellenic CroisiEurope Phoenix Reisen Thomson Cruises Cruise & Maritime Plantours Kreuzfahrten* Transocean Tours Crystal Cruises Polar Quest TUI Cruises Cunard Ponant Variety Cruises Delphin Kreuzfahrten Princess Cruises Voyages of Antiquity Disney Cruise Line Pullmantur Voyages of Discovery Fred. Olsen Cruise Line Quark Expeditions* Windstar Cruises FTI Touristik Regent Seven Seas Cruises Hansa Kreuzfahrten Rivages du Monde Hapag Lloyd Cruises Royal Caribbean International * Modelled Hebridean Island Saga Shipping

IRN Research

This report was compiled by IRN Research, a travel and tourism market research consultancy. www.irn-research.com 11th March 2016.

Please contact [email protected] for further information

CLIA Europe Statistics – 2015

CLIA Europe Statistics – 2013