Liverpool approved plans for a new GBP 50 million permanent cruise ship terminal.
City's Princes Jetty on Princes Parade is to be demolished in order to make way for a new facility, that will be built on suspended deck on River Mersey.
The site will accommodate the largest cruise liners in the world, according to Liverpool City Council spokesman.
Angie Redhead, authority's head of city assets, said that it could "create thousands of new jobs" as well as attract "thousands more visitors".
Over 60 ships carrying around 120,000 passengers and crew used the terminal at Princes Parade last year, the council said.
The new passenger terminal and baggage facility will feature passport control, a cafe, lounge, toilets, taxi rank, vehicle pick up point.
Along with the GBP 50 million to fund the project, the council announced earlier that a further GBP 32 million would be set aside for upgrading A565 to support the terminal and GBP 20 million link road to extend Leeds Street to the waterfront was planned.
The final design will be subject to further assessment after the approval of outline planning permission.