Viking is now deploying an ocean-going ship in Europe exclusively for Chinese-speaking guests, extending a China outbound strategy that runs on a completely different model than its competitors, according to Executive Chairman Tor Hagen.
Speaking on Viking’s second quarter 2026 earnings call, Hagen said the ocean deployment builds on the company’s Europe river operation, where Viking already runs ships staffed and provisioned for Chinese guests.
“I have been spending a fair amount of time on our China outbound business, which, of course, we operate very differently from anybody else,” Hagen said.
The river product came first, following the template Viking used to build its North American source market decades ago.
“We have the benefit that we can start with our river ships in Europe, where we have all Chinese staff, and the same model as we did when we started Americans on the rivers,” Hagen said. “They then come and feel at home on the Chinese-speaking and Chinese food ships in Europe. Thee ratings are very high.”
The ocean ship followed this summer.
“As it turned out, we took the Viking Yi Dun, and now deploy that in Europe too,” Hagen said.
“I think the reactions have been very positive, and I think that this ought to be a real opportunity for us in the medium term, I would say,” he added.
President and CEO Leah Talactac said Viking currently has four long ships operating in Europe for Chinese-speaking guests, “and now the Viking Yi Dun for our ocean-going itineraries.”
Chief Financial Officer Linh Banh placed the China outbound effort in Viking’s other segment, alongside the Mississippi and expedition products, and said growth in that segment largely reflected the new deployment.
Asked about the domestic China opportunity, Hagen said Viking had previously operated in Chinese waters for Chinese guests but found the local market structurally unattractive.
“It’s a fiercely price-competitive market, and they, to a large extent, have been selling the American-style product to Chinese customers through wholesalers, where the wholesalers are the price setters, and the cruise lines really have to take whatever is left over,” he said.
Viking’s answer was to sell direct, as it does in the U.S.
“We market directly to the Chinese consumer, and that means that we own them and we set the price, and we’re not subject to any of the shenanigans that tour operators implement,” Hagen said. “It means it takes us a bit longer time to get there.”
He said the payoff should be a higher-margin business than fighting for share at home.
“But if, when we get there, then I think it’ll be a much more profitable business than competing in local waters with the big U.S. guys or for that matter, Chinese guys,” Hagen said. “So we’ll be the European cruise line for Chinese tourists. I think that could be very interesting.”
