🚢 Cruising is on the Rise! 🚢
In 2023, the cruise industry welcomed a whopping 31.7 million passengers, signaling a remarkable comeback. With North American customers leading the charge with a 17.5% increase and Europeans close behind at 8.2%, the industry is gearing up for even more growth. However, Asian customers saw a decline of 37.7%, totaling 2.3 million passengers.
But the good news doesn't stop there! According to the CLIA | Cruise Lines International Association, by 2027, cruises are expected to host a staggering 40 million passengers, showcasing the industry's resilience and potential (see report below).
What's driving this surge? Marie-Caroline Laurent, the general director for Europe of the CLIA in Europe, attributes it to the diversification of cruise offerings (see her comments in Le Figaro article here: https://lnkd.in/dtdzVMCE ). From luxury to adventure cruises, there's something for everyone. Plus, with ships of varying sizes and reasonable price offers, cruising has become an attractive option for family vacations.
Notably, the average age of passengers is 47 years old, with 27% embarking on their first cruise in 2023. The "family" audience is also expanding, with 28% of passengers traveling with representatives from three generations.
As demand rises, so does the supply. Over the next five years, 63 new ships are set to join the existing 350, catering to different preferences and needs. Additionally, there's a push for sustainability, with nearly half of the fleet equipped for shoreside electrical connection—a trend expected to grow to 72% by 2028.
However, with growth comes responsibility. Discussions are underway to address concerns about mass tourism in popular destinations. Measures like traveler quotas are already in place in some areas, with plans to implement similar strategies in others.
The future looks bright for the cruise industry, with 47 billion euros of investment expected in Europe alone over the next five years. As cruising continues to evolve and innovate, it remains a compelling option for travelers seeking unforgettable experiences on the high seas. 🌊✨ What are your thoughts on the cruise industry? Would you consider giving it a try? Do you believe it needs stronger regulation? Share your thoughts in the comments section below! #RCCL #accor #ritzcarltonyachtcollection #ponant #carnivalcruiseline #antibes #marseille #monaco #orientexpress #fraser
Founder @ The Barking Chain | MCP
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