Analysis of key market trends influenced by COVID-19, company case studies, sector deals, advertisement activity, challenges and opportunities
The cruise market in 2021 was turbulent. At the beginning of the year, many companies, governments and travel authorities had predicted a stronger recovery for 2021, but unfortunately, that was not the case. The pandemic has proven somewhat unpredictable, with many destinations going into second and third lockdowns during 2021 after a global surge in COVID-19 cases, hospital admissions and deaths. While the cruise industry has experienced a 96% YoY (Year-on-Year) increase of passengers, reaching 13.9 million, it still does not compare to the pre-pandemic levels of 2019, where there were 29.7 million passengers globally. It has been an even worse year for travel intermediaries specializing in cruise holidays. These companies are the primary selling points for cruise trips and are often responsible for selling upgrades, premium drinks packages and excursions. Global spending across 60 major cruise markets increased by 65% YoY, resulting in total revenues of $19.4 billion. Nevertheless, this was still way off pre-pandemic levels in 2019, which were approximately $29.8 billion, 35% higher than 2021’s figure.
The cruise market in 2021 was turbulent. At the beginning of the year, many companies, governments and travel authorities had predicted a stronger recovery for 2021, but unfortunately, that was not the case. The pandemic has proven somewhat unpredictable, with many destinations going into second and third lockdowns during 2021 after a global surge in COVID-19 cases, hospital admissions and deaths. While the cruise industry has experienced a 96% YoY (Year-on-Year) increase of passengers, reaching 13.9 million, it still does not compare to the pre-pandemic levels of 2019, where there were 29.7 million passengers globally. It has been an even worse year for travel intermediaries specializing in cruise holidays. These companies are the primary selling points for cruise trips and are often responsible for selling upgrades, premium drinks packages and excursions. Global spending across 60 major cruise markets increased by 65% YoY, resulting in total revenues of $19.4 billion. Nevertheless, this was still way off pre-pandemic levels in 2019, which were approximately $29.8 billion, 35% higher than 2021’s figure.
Scope
- This report provides analysis of key market trends, M&A deals, and company strategies in the cruising industry.
- Major cruise companies are assessed, along with an analysis of alternative cruise types to provide valuable insight.
- Challenges along with opportunities in the industry are explained in relation to industry examples.
Reasons to Buy
- Gain an insight into the cruise industries leading players.
- Understand how they have adapted to the threat of COVID-19
- Understand the key traveler types cruise companies can look to attract
- Look at the key product developments and why they appeal
- Gain a detailed understanding of the key trends, issues and challenges facing cruise companies
Table of Contents
- Snapshot
- Cruise Projects, Mergers and Acquisitions
- Cruise Types and Trends
- Key Market Trends Influenced By COVID-19
- Current Market Trends
- Company Case Study - Virgin Voyages
- Challenges and Opportunities
- Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Carnival
- Celebrity
- Crystal
- Cunard
- Holland American Cruises
- Norwegian Cruise Lines
- Royal Caribbean
- Seabourn
- Silversea
- Virgin Voyages
