Hospitality Insight

In the last ten years, cruising has become one of the fastest growing segments of the tourism industry, and many believe its reputation as a value-for money option will help protect it against the effects of recession.

Cruise Lines International Association statistics show that from 1980 to the present, the industry in North America grew by an average of 7.4% each year.

John Zamora, global cruise sector leader at Deloitte, thinks that while operators will undoubtedly feel the effects of the harsh climate this year, they could have a better experience than other areas of tourism and hospitality. “The cruise sector is not recession-proof, however, the health of the industry is strong, particularly given the value that consumers receive for their dollar,” he says. Furthermore, cruising has already shown its strength in challenging circumstances. “If you look at the post-911 period, it held up pretty well. In 2002, the industry grew by 4%, even in a downturn. As it emerged, the global cruise sector went on to grow by 15% the following year.”

For more information about the state of the cruise industry, read this recent article from World Cruise Network. The Nestlé Library has also created a library guide for the cruise industry.