Revenue of Royal Caribbean Cruises worldwide 1988-2022

The revenue of Royal Caribbean Cruises worldwide bounced back in 2022, following a dramatic drop with the onset of the coronavirus (COVID-19) pandemic. Despite the sharp annual increase, the company's global revenue remained below pre-pandemic levels, amounting to around 8.8 billion U.S. dollars in 2022. That year, the revenue from Royal Caribbean Cruises passenger tickets accounted for roughly a third of the company's total earnings.

Royal Caribbean vs. Carnival Corporation

The rebound in revenue reported by the company was driven by a sharp increase in the number of passengers carried by Royal Caribbean Cruises worldwide, totaling over five million in 2022. That year, one of Royal Caribbean’s main competitors, Carnival Corporation, also experienced strong signs of recovery. Overall, the global number of Carnival Corporation passengers reached nearly eight million in 2022. In terms of earnings, Carnival Corporation’s revenue was also higher than the one of Royal Caribbean in 2022, but it did not catch up yet with pre-pandemic levels.

Impact of COVID-19 on leading cruise companies

Figures on the impact of COVID-19 on the revenue of leading cruise companies suggest that, despite a recovery in 2022, the global cruise industry was still lagging behind pre-pandemic figures. For instance, the 2022 revenue of Norwegian Cruise Line Holdings, another major player in the cruise market, was still 25 percent lower than in 2019.