ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Here Are The Summer 2023 Cruise Vacation Deals You Shouldn’t Miss

The cruise market size was worth $7.9 billion in 2022 and is expected to grow at a CAGR of 11.5%, reaching $22.8 billion by 2032.
UPDATED JAN 22, 2024
Cover Image Source: Pexels |  George Desipris
Cover Image Source: Pexels | George Desipris

The cruise industry is seeing an explosion of bookings this summer as more and more people are looking to spend their vacation on the ocean sipping mimosas. The industry saw a massive boom in 2019 but was then struck by the Covid-19 pandemic. The cruise industry was hit way more than the airline industry because of all the bad press it got following some major COVID outbreaks on cruises during the pandemic, per GQ.

Since then, things have changed for the better. This is the first summer after the pandemic that cruise ships are back on the water and passengers are as excited as possible.

Image Source: Pixabay/Pexels
Image Source: Pixabay/Pexels

The cruise market size was worth $7.9 billion in 2022 and is expected to grow at a CAGR of 11.5%, reaching $22.8 billion by 2032. The growth could be attributed to factors like disposable income, an aging population and the luxury that cruises offer. 

More disposable income: Disposable income is on the rise and that means people are looking to spend their vacation extravagantly. Cruise ships offer just that—from a wide range of activities to a comfortable stay. 

Aging population: With age, people get the freedom to invest more time in leisure activities.

The experience of luxury: Once you're on the cruise, there's nothing much to do other than eat, relax and be entertained by the zillion activities the cruise offers. Cruises provide the thrill of adventure trips without the physical exertion of mountaineering which involves trekking and hiking.



 

Cruise vacations can be incredibly expensive or supremely affordable. This means that there's a plethora of packages to choose from as per your need. One major benefit of booking a cruise holiday is that meals, accommodation, transportation, and entertainment are all included in the cruise fare. Since some cruises cost less than $100 a day, per The New York Times, cruising can be the ultimate choice for many couples, families, and even solo backpackers. Here are some budget cruise options.

Carnival Cruise: This cruise ship leaves from one of the ports of Florida and is considered one of the best in the low-priced category starting at $189 a day, per Carnival. The seven days long vacation has a lot to offer for any first-timer. 

Oceania Cruises: This vacation boasts a 10-day-long itinerary, starting at $251 per day (per Clean Cruising), which gives you the chance to enjoy both the waters and the islands. The cruise can hold only 800 passengers and includes amazing meal spreads, activities and a few exclusive services offered by them.

Allure of the Seas: One of the biggest cruise ships in the world, the vacation has a lot to offer, starting at $162 a day (per Clean Cruising). Some of the not-so-common activities include ice skating, rock climbing and ship houses.

Celebrity Infinity: This refurbished ship from 2001 now features upgraded accommodations, an Italian Steakhouse, a rooftop terrace and an interactive restaurant that are a dream for many, starting at $131 a day (per Clean Cruising).



 

A ship that really dwarfs the Titanic is the brand-new Icon of the Seas by Royal Caribbean. This ship is said to be capable of carrying 5,610 passengers and 2,350 crew. The ships will feature a full-fledged water park with a 100-foot drop water slide, a sports bar and more. While most of the information is still under wraps, we do know that it will be launched in January 2024 and is set to become the largest ship on the planet. When completed the ship will be around 20 decks high and will measure 250,800 tons. The ship will be sailing from Miami in 2024.

"We are positioning it as the ultimate family vacation and when you step back and look at all the energy and time that has gone into creating this ship it is mind-blowing," Michael Bayley, Royal Caribbean International President and CEO told CNN.



 

POPULAR ON MARKET REALIST
MORE ON MARKET REALIST