Revenue of Carnival Corporation & plc worldwide 2008-2021, by segment

Due to the impact of the coronavirus (COVID-19) pandemic, the revenue of Carnival Corporation & plc declined sharply in 2020 over the previous fiscal year, then decreased further in 2021. Overall, the income generated from passenger tickets amounted to roughly one billion U.S. dollars in 2021, while it peaked at over 14 billion U.S. dollars in 2019. Meanwhile, onboard and similar revenue fell by nearly 86 percent between 2019 and 2021.

To what extent did COVID-19 impact Carnival Corporation & plc?

While the health crisis caused a sharp fall in revenue of the cruise company, it also led to a decline in the cruise operating costs of Carnival Corporation & plc in 2020. Overall, the company reported a net loss of over 10 billion U.S. dollars in 2020. This was approximately 13 billion U.S. dollars less than the firm’s net income in the previous year.

Global cruise line passengers

Ocean cruise passengers worldwide declined significantly as a result of the pandemic in 2020. For instance, travelers from North America, the largest source market for the global cruise industry in 2019 and 2020, dropped by more than 12 million due to travel restrictions. Meanwhile, popular cruise destinations such as the Caribbean, Bahamas, and Bermuda had roughly nine million fewer guests from cruises in 2020 compared to the previous year.