Eurostar has reported record-breaking passenger numbers and “significant growth” during 2024, with a 5% increase in passenger numbers year-on-year. The European rail carrier transported 19.5 million customers over the course of the year, a total of 850,000 more than in 2023.
The huge boom was driven largely by the Paris 2024 Olympics and Paralympics, the firm said in a press release. Its London to Paris route saw the biggest hike, transporting 280,000 more passengers than in 2023. Overall, Eurostar carried 1.9 million travellers during the Olympics, a 5% increase on summer 2023. Among those extra passengers were seven teams and 2,000 athletes on more than 900 trains, it said.
Other routes that saw big uptake were London to Brussels (+250k passengers), Paris to Brussels (+160k passengers) and Paris to The Netherlands (+140k passengers).
Targeting 30 million passengers
“I would like to thank our customers and recognise the efforts of our teams for this excellent result in the company’s 30th year,” CEO Gwendoline Cazenave said in a statement. “Looking ahead, this is further proof of the huge demand for international rail and the great potential of sustainable travel.”
At the same time, Cazenave announced that Eurostar is “targeting growth to 30 million passengers and investing in up to 50 new trains as a direct result, with the aim of delivering a unique and exceptional service long into the future.”
However, the firm will have to attempt to achieve that goal amid an increasingly competitive European rail market, with competitors poised to take advantage of the very demand that Eurostar has noted.
Competition about to hot up
In what Railway Gazette has called a “turning point” for the rail sector, the increased passenger demand is coinciding with reduced red tape over track access and rolling stock approvals, as well as enhanced political will and financial investment.
Newcomer Evolyn announced plans in October 2023 to enter the cross-Channel market, as did UK operator Virgin, whose Project Lead Phil Whittingham, has described cross-Channel operations as “a market we can disrupt and grow”.
Amid criticism of Eurostar’s high ticket prices, an official reprimand over misleading promotions, and some passengers and businesses still furious over the way the firm dropped services to Ashford, UK, it remains to be seen whether Eurostar can continue its record-breaking growth when major international events are no longer at play and when it no longer has an effective monopoly.