Carnival UK is tipped to contribute more than £2.5 billion to the UK economy over the next five years, according to the firm’s first Economic Impact Report

With nearly two million guests across 700 calls, this equates to £505 million in spending per year. The report claims that when Carnival UK brands Princess Cruises and P&O Cruises dock in their base port of Southampton, £2.5 million is injected into the local economy through supply chain and guest spending.

Carnival UK & P&O Cruises president, Paul Ludlow said: “As the largest cruise operator in the UK, we are extremely proud that our organisation will be contributing over £2.5 billion to the UK economy over the next five years.

“This is particularly important given our impact in the Solent where we are the largest private sector employer in Southampton, especially at a time when economic growth is of utmost importance to the country.”

More than £100 million is generated annually from local travel agent commission fees, extending Carnival’s contribution to every local authority in the UK.

Six of every ten travellers onboard showed interest in returning to Southampton, which is predicted to benefit the economy by £147 million in spending from repeat visitors annually.

Along with the 1,650 full time employees at Carnival UK’s headquarters, the business contributes £351 million in Gross Value Added (GVA) to the local economy.

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“We are determined to support growth in coastal regions and have set out our ambitions to welcome 50 million international visitors per year by 2030 – many of which can come from maritime,” said maritime minister Mike Kane.

“These findings uncover the vital role the cruise sector plays in supporting this ambition, helping local businesses and economies while also opening up the UK to international visitors, often in hard-to-reach destinations unserved by other forms of tourism.”

“This is a highly competitive global industry, so when a cruise line chooses Southampton, as Carnival has done, it’s a vote of confidence in our city, our port, and our people. As this report shows, each time a ship docks in our city, it brings in money to our local economy and helps support businesses and jobs.

“That’s why I was pleased to meet recently with representatives from all the cruise lines that have made Southampton their port of choice and it’s why I’ll continue to champion the contribution they make to the city and wider region,” said MP for Southampton ItchenDarren Paffey.

It comes following the closure of Carnival Cruise Line’s UK office in May.