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Costa Group: 12.6 Billion Euros And Over 63,000 Jobs Generated In Europe

The figures are drawn from astudyconducted by Deloitte& Touche, the University of Genoa and the University of Hamburg,whichtakes a snapshot of the economic impactof the cruise companyin Europe.

The contribution made to Italy amounts to over 3.5 billion euros and around 17,000 jobs.

Liguriais the Italian regionthat draws the greatest benefit from the presence of Costa.

Genoa, September 23, 2019 – Cruises confirm their positive contribution to the European and Italian economy. In particular, the Costa Group, a leader in this sector, both in Europe and China, with 3.2 million guests, generated a total economic impact in 2018 of 12.6 billion euros in Europe, creating over 63,000 full-time equivalent jobs.

These figuresemerge from a study conducted by Deloitte & Touche, the University of Genoa and the University of Hamburg,presented todayattheGenoa Boat Show,with the participation of the Undersecretary of the Italian Minister of Infrastructure and Transport, Roberto Traversi, the Director of Communication, Training and Youth Policies of the Liguria Region, Ilaria Cavo, theMayor of Genoa, Marco Bucci,theMayorofSavona,Ilaria Caprioglio,theGeneral Secretary of the Western Ligurian Sea Port Authority, Marco Sanguineri, and the President of Confitarma,Mario Mattioli.

Shipbuildingis the most significantactivity in terms of the Costa Group's economic impact at European level,with around4.5 billion eurosand over 20,000 jobs, thanks to a fleet expansion plan that provides for the arrival of 7 new ships by 2023, two of which are already in service. Also particularly significant is the income generatedby the spending made by guestsduring the various calls,amounting on averageto74.60 eurosper passenger in every Europeanport visited by the company's ships. Furthermore, asa confirmation of the importance of the sector in promoting local tourism,60% of guests say they want to return to the destinations visited.

“Cruises bringvalue and wealth to the cities and countries where they operate that go well beyond the common perception.Every euro spentby our Group, by our guests orby our crew has a multiplying effect, creating a virtuous circle that can positively transform the local economy, guaranteeing continuity and strengthening economic stability.” –saysNeil Palomba, President of Costa Cruises. –“The aim of ourstudy is precisely to quantify this value, focusing on Europe and Italy, where we are a leader and have an established historical presence, so that more informed development programs can be built with the communities of our ports of call”.

Italy and Germany are the two European countries where the Costa Group(which includes the Costa Cruises and AIDA cruises brands)generates the greatest value.Italy in particular, which has been company's home for over 70 years,benefits from an economic impact of3.5 billion euros,while in employment terms, around17,000jobs have been created.The main benefits for the localeconomyare derivedabove all from thepresence of the company's head office in Genoa.Costa employs over3,200 Italians,including the crews employed onits fleet flying theItalian flag.Also significant isthe number of Italian suppliersand partnerswith whom the company collaborates, over4,700,including Fincantieri and major Italian brands in the fields of design and food and beverage.Italy is alsoamong the top destinations of the shipsin the CostaCruises Group, with3.2 million passenger movementsand 852 calls in 20 different ports in 2018.The company has also invested in many Italian companies, including Ecospray, a state-of-the-art manufacturer of cleaning systems for exhaust fumes from ships, and is a shareholder in the cruise terminals of Savona, Civitavecchia, Venice, Trieste, Naples, Genoa andLa Spezia.

Liguria is the Italian region that draws the greatest benefitsfrom the presence of the Costa Group, with511 million eurosof economic impact and over3,200 jobscreated, including 1,100 direct ones.In addition to hosting the company's head office in Genoa,Liguriacan also count on three home ports (Savona, Genoa and La Spezia)where Costa Cruises and Aida Cruises ships regularly call and to which they will bringa total traffic of around1.2million passengers in 2019.In 2017, Costa Cruises and theItalian Merchant Navy Academy Foundation, working with the Liguria Region, inaugurated the Accademia Ospitalità ItalianaCrociere, Italy's first training center for on-board hotellerie,whichhas so far trainedalmost500 people, 94% of whom have been directly employed on thecompany'sships.

In Genoa, in 2018, Costa had an economic impact of over 280 million euros, creating more than 1,800 jobs. A further increase is expected in 2019 thanks to Costa Fortuna, which has been calling at Genoa again every Friday since the end of March, bringing 170,000 passenger movements to the port, which will increase to 185,000 in 2020 thanks to the switch from Costa Fortuna to Costa Pacifica.

With around 850,000 passenger movements in 2018, Savona is the main home port of the Costa Cruises brand, which directly manages the Palacrociere with its two terminals. The economic contribution of the Costa Group to Savona is 125 million euros and 700 jobs. Here too an increase is expected in the next few years, particularly thanks to the arrival of Costa Smeralda, the new low environmental impact flagship fueled by liquefied natural gas, which will call at Savona and La Spezia every week from the end of 2019 Specifically to accommodate Costa Smeralda, work on the main quay is being completed and the Palacrociere structure is being adapted, in which Costa and the Western Ligurian Sea Port Authority have invested over 20 million euros.

The study considered the three main types of economic impact: the direct impact (38% of the total impact), i.e. the expenses incurred directly by the company, its guests and its crew; the indirect impact (36% of the total impact), which corresponds to the expenses incurred by the over 10,000 suppliers and partners of the Costa Cruises Group to satisfy the direct demand; the impact on downstream activities, i.e. the economic benefits derived from the fact that the employees of the Costa Group and its suppliers and partners in turn spend their salaries to buy other goods and services, thus supporting consumption in the areas where they live.

For further information:

Costa Cruises Press Office - Tel. +39 010 54 83 523 - costapressoffice@costa.it

Gabriele Baroni – Communication Director – Cell +39 349 7668013 - baroni@costa.it

Davide Barbano – Media Relations Manager – Cell +39 334 6525216 - barbano@costa.it

Cristiano de Musso – Head of Communication – cell +39 334 6805095 demusso@costa.it

Press releases and photos available at www.costapresscenter.com

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