Based on the Concordia-class design, Costa Favolosa was laid down by Fincantieri's Marghera shipyard on 5 November 2009 and launched on 6 August 2010.

Part of a five-ship expansion of the Costa Crociere fleet, the vessel entered service in July 2011.

Favolosa (Italian for "fabulous") and Fascinosa ("fascinating" or "glamorous") were selected as the winning name pair.

[8] On 26 March, as the ship stopped three miles (4.8 km) offshore from Miami, Florida, the United States Coast Guard reported the evacuation of seven sick crew members, out of the 1,009 who stayed aboard.

[11] On 8 April an Indian crew member died from the disease after the ship was disembarked and was sent into Miami Hospital on 29 March.