Why are 2023 cruises so expensive?

While the cruise lines have been sailing around 60-80% capacity in 2022, some are predicting they will reach 100%+ occupancy by the middle of this year. So, with more individuals wanting to cruise, this means higher cruise fares. We are already feeling these effects when trying to plan trips for the year ahead.



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Cruise experts say pent-up demand and tight occupancy are the main factors in why you could pay more for your next cruise vacation.

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For example, a 7-day Caribbean cruise on a luxury cruise line like Regent Seven Seas might cost around $4,000 per person, while a similar cruise on a more budget-friendly cruise line like Carnival could cost as little as $700 per person.

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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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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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Cruise Fare Increases In 2023, the cheapest you can get an ocean view balcony is around $3,900. That's an increase of over 77%. Even if you plan a cruise for 2024, the cheapest you can get for a similar cabin is around $3,100, which is close to a 41% increase.

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Cruise prices are usually the cheapest furthest from the sailing date when first launched or 60-90 days before the cruise sets sail. The prices of some cruises will decrease last minute – but this doesn't always happen. Booking a cruise within the last 60/90 days may not always be the best way to get a bargain.

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Hurricane Season 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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When to Book Early. If you have your sights set on a high-demand sailing — on a new ship or during school holiday dates — the best time to book a cruise will be as soon as fares are released. This is the only way to guarantee a spot (and secure a particular cabin location).

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Experts say it's best to book a cruise six to 12 months ahead for the best price, but you might be able to snag a better deal if you have the flexibility to wait a bit longer. Getting the delicate balance right on booking a cruise can be tricky. Book too early and you risk paying through the nose.

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Booking a cruise one to two years in advance is not practical for many families, so a great time to book a cruise is between six and 12 months before sailing. In addition to the lower prices, booking well in-advance of a cruise assures you of the ship and stateroom you want to reserve.

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So how much money do you need? The answer to this question varies a lot by person, their travel habits, spending preferences, length of the cruise and destination. Many people suggest $100 per day, and this has generally worked well for me in my cruising experiences.

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Many cruise lines come out with their best fares when itineraries first go on sale, and then raise the rates as the ships sell out. This is especially true with luxury cruises, new or popular mainstream ships and Disney cruises that tend to book up well in advance.

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For 2023, the passenger capacity is forecast to grow another 18 percent, with the full fleet sailing, plus new ships entering service, offset by the retirement of older ships and some brands that ceased service during the pandemic.

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If you're a U.S. citizen age 16 or older on a closed-loop cruise without your passport, you will need a government-issued photo ID like a driver's license that has your photo, name and date of birth. In addition to a driver's license, you must also present a document that proves your U.S. citizenship.

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If you're bringing the whole family, a 5 or 7 day cruise might be the best way to make sure everyone has an awesome getaway. And for those lucky folks with even more time to spare, a cruise of 10 days or more will give you an incredible experience of all the best things a cruise has to offer.

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On average, prices for cruises drop the most on Thursdays, according to CruiseWatch.com. The data also revealed Wednesdays to have the greatest price hikes during the week. The worst day to book if you're hoping for a price drop, according to the data, is on Sundays.

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Experts say it's best to book a cruise six to 12 months ahead for the best price, but you might be able to snag a better deal if you have the flexibility to wait a bit longer. Getting the delicate balance right on booking a cruise can be tricky. Book too early and you risk paying through the nose.

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The most popular time to cruise is during summer when it's warmest, kids are out of school, and holidays like Christmas and New Year's Eve. Due to supply and demand, these are the most expensive times to travel. So, if you have to ability to cruise in the shoulder season and can take a drop-and-go, you can save money.

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