Is there a future for cruise ships?

CLIA forecasts passenger numbers will not only meet but exceed pre-pandemic levels by the end of 2023. And according to Cruise Industry News' cruise ship orderbook for ocean-going vessels, nearly 40 new ships are lined up to debut this year alone, with more than 75 vessels on order through 2027.



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Are cruises in high demand? The 2023 cruise industry is booming. It has far surpassed 2019 levels, breaking sales records in a furious, post-pandemic comeback. Like most tourism sectors, cruising is reaping the benefits of “revenge travel”— vacationers making up for the time that was lost during the pandemic.

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The 2023 cruise industry is booming. It has far surpassed 2019 levels, breaking sales records in a furious, post-pandemic comeback. Like most tourism sectors, cruising is reaping the benefits of “revenge travel”— vacationers making up for the time that was lost during the pandemic.

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Cruise passenger volume is forecast to reach 106% of 2019 levels in 2023—with 31.5 million passengers sailing. This compares to the UNWTO forecast t(January 2023) that international tourist arrivals in 2023 will be 80% to 95% of 2019 levels.

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Cruising in 2023 is mostly back to normal following the pandemic-induced changes implemented across the industry in 2021 and 2022. Pre-cruise testing has been almost entirely abolished, ships are sailing at full capacity, and new ships are being constructed.

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The average lifespan of a ship is 25-30 years. After this span, the ship may become too expensive to operate, but most importantly, to become unseaworthy putting human safety at risk. So, have you ever wondered what happens to a ship when it is too old to sail?

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CLIA survey figures show that 85 percent of travelers who have cruised will cruise again, which is 6 percent higher than pre-pandemic.

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MSC Cruises, the world's fastest growing cruise line, has unveiled 150 more itineraries that will set sail during the 2024-2025 winter season.

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What is the target market of cruise ships? According to Cruise Critic, cruise ships are generally geared toward adults. Most cruises target retirees, but more and more are looking to reach elder Millennials in their mid-40s.

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On average, the annual household income earned by cruisers was $114,000. The vast majority of cruise travelers were employed (72 percent) and 21 percent enjoyed their cruise vacation during retirement.

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All told, these costs eat into revenue, but there is still a healthy profit. How much so? Of the $1,560 in revenue generated from each passenger, 19.1% — $298 — ends up as profit.

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