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Global Cruise Industry to See Continued Growth in Next Few Years

The travel industry has experienced an extraordinary surge in recent years, with hotel demand soaring by nearly 50% year-on-year, as highlighted in a market survey conducted by Amadeus. This robust rebound indicates that the industry will likely see more growth in the foreseeable future, especially as domestic and international travel increases.

Amidst this fervour, it is no surprise that the cruise sector has emerged as one of the key driving forces behind the travel industry’s exponential growth. With the allure of exploring multiple destinations and the comforts of onboard accommodation and entertainment, cruises have become an irresistible magnet for modern-day travellers. Let’s delve deeper into the implications of the ongoing growth of the global cruise industry below.

Projected growth

The luxury cruise market is projected to carry over 1.5 million guests by 2030. New players are expected to offer new ships with the four leading shipyards in Europe, including Fincantieri and Meyer-Werft, offering attractive government-backed financing. This includes the 2025 launch of the Four Seasons’ 95-suite cruise ship and the 2026 launch of the Orient Express Silensea. Meanwhile, rumours are circulating that many luxury properties are also exploring licensing agreements with white-label cruise startups.

Key industry trends

As the global cruise industry continues its ascent, several noteworthy trends and opportunities are taking shape. One significant development is the rise of environmentally-conscious cruising.

Cruise lines proactively adopt cleaner fuels, invest in energy-efficient technologies, and implement effective waste management practices. Italian luxury boat manufacturer Azimut-Benetti stands out by supporting the UK-based charity Blue Marine Foundation while simultaneously equipping their ships with an Eco-Cruise mode that releases zero emissions and relies on energy supplied through solar-charged batteries. This steadfast commitment to environmental stewardship addresses passengers’ concerns while contributing to the preservation of marine ecosystems.

Furthermore, the industry is witnessing the emergence of innovative cruise lines designed to cater to the preferences of a new generation of passengers. With its maiden journey scheduled in July 2023, Explora Cruises of the international MSC Group exemplifies this trend. Alongside its advanced environmental features, including a Selective Catalytic Reduction system, flagship vessel Explora I offers guests authentic and immersive experiences. Carefully curated itineraries range from six to 44 nights, covering over 132 ports or islands in 40 countries. These encompass lesser-known destinations like the mythical Ocean Cay and UNESCO-listed marvels such as historic Jeddah, captivating a new breed of cruise enthusiasts.

Technological innovations

The global cruise industry is at the forefront of embracing technological advancements to enhance the passenger experience and streamline operations. From facial recognition for swift and hassle-free boarding processes to mobile apps granting access to onboard services, technology is revolutionizing the cruise experience.

A notable development is the incorporation of wearable devices, leading to more personalized experiences for passengers. The WOW band of Royal Caribbean International serves as a room key and onboard charge card, enabling seamless navigation, customized cruise experiences, and reservations for activities and dining — including the renowned Bionic Bar, where two robotic arms concoct beverages for diners. Similarly, Carnival Corporation’s Ocean Medallion allows guests to connect to the onboard casino and play electronic games from any location on the ship, adding to the convenience and enjoyment of the cruise experience.

With the ability to offer captivating itineraries, luxurious amenities, and innovative technologies, the cruise industry is primed to meet the evolving demands of modern travellers.

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