Is It Worthy? Regional Economies and the Cruise Industry

Maria B. LEKAKOU
Department of Shipping, Trade and Transport, University of the Aegean,
2 Korai St, Chios 82100, Greece
Tel.[phone], Fax [phone], E-mail: [e-mail]

Evaggelos XIDEAS
Department of Shipping, Trade and Transport, University of the Aegean,
2 Korai St, Chios 82100, Greece
Tel.[phone], Fax [phone], E-mail: [e-mail]

Evaggelia S. STEFANIDAKI
Department of Shipping, Trade and Transport, University of the Aegean,
2 Korai St, Chios 82100, Greece
Tel.[phone], Fax [phone], E-mail: [e-mail]

Abstract
The cruising sector is characterized as one of the most rapidly developing sectors of shipping. Greece represents one of the most popular cruise destinations in the Mediterranean region. Cruise activity in Greece has developed since the early 1930s to the top maritime tourism destination in the EU.
Despite the great maritime tradition of Greece, the national economic statistics available are limited to the collection of certain data. In 2003, the Port of Piraeus hosted 543 calls by cruise ships carrying 386.000 passengers. Each of this call creates unidentified economic impacts on the local economy.
The aim of this paper is to estimate the economic impacts of the cruise industry in the region of Piraeus
The methodology used is based on interviews, surveys, local economic data and cruise activity statistics. Then, the impacts are quantified in terms of: Jobs, Personal income, Business revenues and State and Local taxes.
The paper concludes with the estimations and comparisons to port having similar characteristics. Finally, it discusses policy implications resulting from the research findings.

Keywords: cruise sector, economic impact, the port of Piraeus.

IS IT WORTHY? REGIONAL ECONOMIES AND THE CRUISE INDUSTRY

1. INTRODUCTION

The cruise sector is considered as one of the most promising sectors of the world’s economy and in particular the fastest

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