THE CRUISE MARKET IS STRUGGLING TO RECOVER

Nils Kraus - Jul 12, 2021
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Before the health crisis, cruise ships carried hundreds and hundreds of thousands of passengers every year. The cruise market was particularly buoyant, but is also the one that, along with the mountains and the large amusement parks, has suffered the most.

In the middle of the Covid pandemic, there was no question of cramming thousands of people into an enclosed space that could turn into an epidemic. And no one wanted to travel abroad or be trapped for weeks on a ship. The good news is that the cruise industry is starting to pick up.

The restart is taking place, but slowly. Indeed, it is more complicated to restart a liner than to reopen hotel rooms. It would have been necessary to plan and start selling seats months ago, but the companies lacked visibility. They are therefore returning to the water with far fewer ships, with still limited capacity and with penalizing sanitary constraints.

The cruise industry remains very buoyant. Before the crisis, there were already 30 million people who went on a ship per year. This is both a lot and a little. It is only 2% of the world tourism market and there are real growth reserves in Europe and especially in Asia. Even if the client has to pay extras at the ship's bars and casinos, the all-inclusive travel package remains very attractive. Especially since there are cruises for all tastes, ranging from the slightly popular to the very upscale.

To a great deal, the cruise market focuses on older people who have been attracted to cruise tours. The world's population is ageing and its purchasing power is increasing, as are its vacation days. This is good for the cruise market, which is only afraid of one thing: a new wave of Covid.

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