**We’d like to interrupt your regularly-scheduled summer programming of pool tanning with a short weekend newsletter read**

Whether you prefer backyard grilling, road trips to national parks, or all-inclusive resorts, summer is for vacation. And we hope you enjoy some 🏖️

Today, we're discussing Americans’ love for cruises, and more, in just 4 minutes to read.

— Weronika

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📖 READ: To be wealthy in America, you need at least $2.2 million

THE CRUISE MARKET

Bon voyage

Caribbean cruises are many Americans’ go-to trips for international vacations — but cruises aren’t just for retirees.

In fact, young consumers are the fastest-growing segment among cruise line customers.

Research reveals that in 2023, younger travelers generally embark on more trips, opting for longer durations, spending more per night, and seeking a broader range of functional amenities from their accommodations, including wellness facilities and coworking spaces.

As a former cruise guest, I (Weronika) can attest that once you're aboard, you find yourself in the midst of the sea, perhaps in the Caribbean, with more ways to unwind than grains of sand on a tropical beach.

Picture yourself lounging by one of the five pools, savoring delicious cuisine at various restaurants and cafes, working out in the gym, indulging in a trip to the spa or hair salon, and exploring the luxury boutiques—it's an endless array of possibilities.

Essentially, you can allocate your time (and budget) toward activities tailored precisely to your preferences.

Young guests

What's particularly noteworthy is that Millennials and Gen Z aren’t just looking to travel on a cruise. They have different expectations for the experience altogether. And the hospitality sector must adapt.

Cruises are about adventure, not only traveling and sightseeing. What’s equally appealing to younger generations is the great value for their money.

A few ways cruise lines are adapting to younger passengers:

• Luxury accommodations with attention to detail.
  

• Comprehensive dining services draw the attention of “foodies” and families with kids.
  

• Personalized activities are available for different target groups like bachelors, families, kids, and retirees, including casinos and family animation.
  

• Affordable Wi-fi for both remote work and updating social media.
  

• More trips sampling multiple countries.

Cruises win Americans’ hearts

Regardless of age, though, Americans lead the world in cruising.

In 2019, 47% of cruise passengers hailed from the U.S., and they continued to maintain a strong presence at 43% in 2021.

As a result, it's no surprise that the Caribbean, Bahamas, and Bermuda, with their proximity to the U.S., dominate as cruise destination spots. They outshine the competition and attract the largest share of passengers, accounting for 45%.

The industry back then

Cruising has emerged as a popular travel option, but the concept itself has a long history, dating back hundreds of years.

In 1819, the SS Savannah became the first ship to cross the Atlantic from a U.S. port, taking 29 days to reach Liverpool, England. Although this journey wasn't quite like modern cruises, it marked the start of a new era in ocean travel, where steam-powered ships offered a more convenient option for passengers, where they could sleep, dress up, dine, and enjoy their leisure.

Back then, the Caribbean Islands were top destinations for cruisers, which hasn’t changed. But it was the sensational TV show "The Love Boat" that truly set the stage for a cruising frenzy in 1977.

Cruise industry today

Despite facing a significant setback during the pandemic, with country-wide lockdowns and cruise terminal closures, the cruise industry has showcased its resilience.

In fact, it has rebounded with remarkable speed, surpassing pre-pandemic figures.

Recent reports state that the cruise industry made $18 billion in revenue in 2022, and it’s expected to surpass $25 billion by the end of 2023 and $30 billion in 2024.

A few fun facts about the industry —

Working onboard a cruise ship:

• The largest cruise ships require over 2,000 crew members.
  

• It takes 24 passengers to support one full-time job on a cruise ship.
  

• Cruise ships have a strict, military-like chain of command: Officers > staff > and crew members.
  

• 70% of cruise ship crew work in the hotel division.
  

• A typical cruise ship employment form is a 6-month-long contract.
  

• Cruise ship crews are on call around the clock.
  

• An average salary of a cruise ship member in the U.S. stands at $29K annually, and if they work on a luxury cruise line, they may receive over $2,000 each month with tips.

Cruise ships:

• 72 new ships were manufactured in 2021.
  

• The average cost of building a cruise ship is $600 million.
  

• There were 65 ocean cruise lines as of 2022.
  

• The three leading cruise companies made 85% of the global revenue in 2021.

• Only 11% of cruise ships can accommodate more than 4,000 passengers.
  

• Most cruise ships (32%) can take 2–3K tourists onboard.
  

• The cruise industry emits more greenhouse gases daily than 13 million cars but aims to reduce carbon emissions by 40% by 2030.

Dive deeper

Learn more about the cruise industry with fun facts, trends, and stats.

See you next time!

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