Cruise Industry

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Submitted By noodie04
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Overview of the Cruise Industry The Florida-Caribbean Cruise Association stated that the industry forecasted roughly 16 million passengers in 2011, which is a 6.6% increase over the year 2010. In 2010 a record of 15 million passengers were forecasted to have cruised, with 11.1 million originating in North America. The cruise industry is the fastest-growing category in the leisure travel market. Since 1980, the industry has experienced an average annual passenger growth rate of approximately 7.4% per annum. Since 1990, over 169 million passengers have taken a two or more day cruise; over 67% of the total passengers have been generated in the past 10 years, and nearly 40% in the past 5 years. The average length of cruises is nearly 7 days. The cruise product is completely diversified. Throughout the history of the industry, it has responded to the vacation desires of its guests and encompassed innovation to develop new destinations, new ship designs, new and diverse onboard amenities, facilities and services, plus wide-ranging shore side activities. Cruise lines have also offered their guests new cruise themes and voyage lengths to meet the changing vacation patterns of today’s travelers.
The cruise industry’s establishment of over 30 North American embarkation ports provides patrons with unprecedented convenience, cost savings and value by placing cruise ships within driving distance of 75% of North American vacationers. By providing significant cost savings through the convenience of avoiding air travel, the new homeports have introduced leisure cruising to a wider customer base. From a capacity standpoint, utilization is consistently over 100%. The Caribbean is the number one destination, with 41.3% of capacity in 2010. In 2014, 26 new state-of-the-art ships are contracted or planned to be added to the North American fleet costing nearly 12 billion US…...

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