According to GlobalData, there is a demand from consumers to receive information about Covid-19 initiatives. The importance of Covid-19 safety protocols on cruise ships has never been more critical. In GlobalData’s Q3 20 global consumer surveys, the percentage of Gen Z and Millennial respondents who typically take a cruise holiday increased from 17% to 21%, indicating changes in consumer tastes.
In comparison, only 22% of those older than 35 responded with the same sentiment, highlighting that the younger generation may be more likely to travel in today’s travel climate.įurthermore, cruising has also become more popular with younger adults. This evolution is necessary for making cruise businesses more resilient in the future by drawing the next generation of cruise tourists.Īccording to a 2020 GlobalData survey, 37% of Gen Z and Millennials said that they ‘strongly’ or ‘slightly’ agreed with the notion that they would book an international trip this year. The motivation for this stems from the fact that cruise operators need to attract a younger market.
Many of these boast a more contemporary feel to their décor and interior, moving away from the traditional looks of the past cruise ships and moving to a more fashionable boutique hotel design. There are many new cruise ships scheduled to set sail in 2022. In addition, respondents who said they booked directly increased from 32% to 36%. However, in a Q4 2021 survey, only 24% of respondents said they booked their last holiday via this booking method.
In 2019, 44% of respondents said they typically book via an OTA. Research from GlobalData also supports this, when comparing two consumer surveys from 20. This has led to more customers booking directly with cruise companies. Many agencies have had to cut back on their workforce due to poor revenue performance in 2020, resulting in fewer sales agents to capture the rising demand in 2021. The same sentiment was echoed by Norwegian Cruise Lines CEO Frank Del Rio, who said the company had witnessed a similar booking pattern. The world’s fourth-largest cruise company has seen intermediaries such as online travel agencies (OTAs) and high street agencies lose a proportion of their market share, with customers opting to book directly with the cruise operator rather than a third party. However, cruise passenger flows increased by 95% YoY, which is a significantly higher rate of improvement.Īccording to the CEO of the Royal Caribbean Group, Richard Fain, this was not unexpected. In 2021, revenue generated for cruises from intermediaries reached $19.5bn, a 65% YoY increase from $11.8bn. The top ten cruise operators by market capĭuring the pandemic, it has become clear that the latter affected cruise intermediary revenues. Usually, the most significant impacts on a travel company’s revenues, aside from passenger flows, are an economic recession, foreign exchange, or a change in booking trends. With the fluctuations of global passengers, revenues will generally follow a similar pattern unless there is a substantial shift in consumer behaviour.
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