Today the Cruise Industry features over 400 ships (including River Ships), and has seen a massive increase especially over the last decade. The Cruise Ships of today are also built in all sizes and types such as:
- Modern
- Superior
- Niche
- River cruises
- Expedition and adventure
In 2013, around 21 million tourists travelled on board a Cruise Ship. More than 50% of them originated from the United States. Testament to this fact is the influence of the Port of Miami, which had a financial influence on the local community of around 30 billion dollars last year.
However the pace of new Cruise Ships entering service is slowing down a little. In 2014, 5 new Cruise Ships (shown below) will enter service, as opposed to around 10, which we have been accustomed to in recent times. Approximately 770,640 extra passengers will need to be found in 2014 to fill these ships.
Ship entering service in 2014
- Regal Princess
- Mein Schiff 3
- Pearl Mist
- Quantum of the Seas
- Costa Diadema
In conclusion, when looking at the title question of this article “Is the Cruise Industry slowing down?” The best way to describe the current growth trend is that the Industry will continue grow over the next 2 years, however all be it at a slower pace than we have become accustomed to. This will allow a little consolidation and stabilization to take place in the market for some Cruise Lines at least. However, we are back to rapid growth in 2016 and judging by the current challenges of the Cruise Industry extending from the perception of safety and sanitation to scandals on board, the jury is out as to whether the Cruise Lines can fill the ships without major discounting or making significant changes to the product to reflect the discounting. Only time will tell and the next few years will be fascinating in the Cruise Industry to say the least!
