ST. LOUIS — The American Queen Voyages ships will no longer be cruising on the Mississippi River. The parent company announced last week that it had filed for bankruptcy, citing the pandemic and changes in the way people travel. They are offering refunds to anyone who may still have a ticket.
The American Queen is among the seven massive ships in the company’s fleet. It is considered the largest steamboat ever built, with a capacity of over 430 passengers.
The Mayors of the Mississippi River Cities & Towns Initiative say that these ships and the tourists they bring account for over 40 percent of some river town’s economies. They only see demand increasing.
“We see an overall river cruising industry with significant opportunities and growth potential into the rest of this decade and beyond. In some of our cities, the burgeoning river cruise industry and all the third-party services it supports can account for over 40% of that city’s economy and we only see demand increasing. In that light, we anticipate the absence of AQV will create openings for remaining cruise companies to absorb. Alternately, acquisition of assets and reorganization of AQV also remain as possibilities.
We are aware AQV’s stoppage leaves some communities with unfulfilled commitments and we will work as an organization to help our cities address those challenges.”
The outdoor recreation and tourism industry is a major economic force on the Mississippi, generating over $37.4 billion annually and supporting more than 517,000 jobs, making it the river’s second largest economy.
The river cruise sector, in particular, holds a significant portion of the US river cruising market, with a forecasted compound annual growth rate of 20.8% from 2023 to 2030.
The mayors say that post-pandemic recovery has been strong, with domestic river cruise bookings in 2022 increasing by 25% from 2019, making up 68.2% of the national market.
