What is the outlook for the cruise market?

Revenue in the Cruises market is projected to reach US$25.14bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 9.29%, resulting in a projected market volume of US$35.87bn by 2027. In the Cruises market, the number of users is expected to amount to 32.53m users by 2027.



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Revenue in the Cruises market is projected to reach US$25.14bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 9.29%, resulting in a projected market volume of US$35.87bn by 2027.

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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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Many cruise stocks have outpaced the stock market and rewarded investors in 2023. Significant travel growth has helped cruise lines hit revenue records and get closer to profitability. Many of these same stocks also offered dividends and reliably paid them for several years before the pandemic.

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Cruise stocks fell Tuesday, with Norwegian Cruise Line plummeting, after the company set a third-quarter profit outlook that was narrower than Wall Street expected. Norwegian's shares were recently down more than 12%, on pace to break a four-day winning streak and one of the S&P 500's worst performances on the day.

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One of the best changes to cruising in 2023, is the end of COVID protocols (on most cruises and destinations). This means that cruise lines no longer require their guests to take a COVID test before their cruise vacation. Passengers and crew are no longer required to wear a mask.

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As the cruise industry continues to search for alternatives to reduce or eliminate CO2 emissions in the near future, one of the answers to cleaner cruising may lie in wind-powered technology. Several cruise companies are exploring wind-powered sail assist technology as an option for their ships.

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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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Storms in August and October have a moderate risk of developing into hurricanes while September has the highest risk of all. For these reasons, September is the worst month of the year to take a cruise.

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Upper decks should be avoided if you have motion sickness as you will feel the ship's rocking more. If you do suffer from this, the lower and central decks would be best suited to you.

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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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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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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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Other cruise brands that have shut down over the past four years, almost all citing the financial effects of the pandemic, include luxury line Crystal Cruises and its two Asia-based sister brands, Dream Cruises and Star Cruises; Japan-based Venus Cruises; India-based Jalesh Cruises; Swedish-based Birka Cruises; U.S.- ...

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