The cruise industry remains the fastest growing segment of the travel industry with expected revenue in 2013 of over $36 billion. In addition, it will benefit from investments totaling more than 10 billion over the next three years, designed to further expand their capacity:
4 ships w 15,369 beds (2014)
2 ships w 4,240 beds (2015)
NOTE: Total beds and ships in the fleet can be seen in chart on right.
The cruise industry enjoys an annual growth rate of 7% while remaining capacity driven dependent entirely on two segments:
Typically an older demographic capable of taking longer vacations.
Typically a younger demographic interested in shorter cruises due to greater difficulty in getting time off from work. However, highly motivated toward active excursions,e.g. scuba diving.
Cruise ship profits are derived essentially from “shore excursions”, with shopping, snorkeling and scuba diving the top choices.
Unfortunately for travelers, multiple arrivals during peak season means congestion that both slows the time available for such excursions as well as diminishing the desirability of the activities themselves.
In turn, this tends to reduce both future repeat customers as well as first timers who may feel they’re not getting enough bang due to the tight time/space considerations.
The success of the of the cruise industry and its concomitant expansion could soon become its worst nightmare. The above harbor in Nassau, The Bahamas illustrates the problem: with several cruise ships in port at the same time, passenger totals of 1500 pax/ship may soon plague paradise with ever increasing congestion on the beaches, in the water and in the marketplace.
FAST TOURING : World Cruise Fleet
|Year||Total Ships||Total Beds||Avg Beds/Ship|
FAST TOURING : Excursion Market 2013
|Casino & Bar||222||28||4,656,672,000|
FAST TOURING MARKET DATA
|Source: CLIA, ECC, ICCA|