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Cruise Industry expects to weather bad economy (Maybe)
From The Palm Beach Post....
Cruise industry expects to weather bad economy
By MIKE WILLIAMS
Tuesday, April 29, 2008
"No segment of the travel industry is recession-proof, but cruising has proven in the past to be somewhat recession-resistant," said Bob Sharak of the Cruise Lines International Association, a trade group. .....
While not exactly bullish, cruise lines say they are on track to continue their impressive record of growth in 2008, and expect to take 12.8 million customers to sea, a slight increase from the 12.6 million boarded in 2007.....
The 23 member lines in the Florida-based trade group plan to add 36 new ships over the next four years, with 8 of those coming on-line this year, Sharak said. .....
The cruise lines, have, of course, been hit with the same rising fuel prices that have put the pinch on consumers and other segments of the travel industry. Some lines have responded with fuel surcharges, a strategy that drew complaints from customers and prompted an investigation by Florida's attorney general after some operators applied the charges retroactively. .....
Question is, can the Cruise Industry really sustain itself (including adding new builds) if prices continue to escalate?
It's not just the price of the cruise - it's the airfare to and from the ship. With several airlines going bankrupt and other major carriers cutting back capacity, prices can only go up.
Not to mention the fact that if gas goes north of $5 and inflation continues people will be forced to cut back on leisure spending in general just to fill their tanks and eat.
How stable do you feel the Cruise Industry really is today?
Cruise industry expects to weather bad economy
By MIKE WILLIAMS
Tuesday, April 29, 2008
"No segment of the travel industry is recession-proof, but cruising has proven in the past to be somewhat recession-resistant," said Bob Sharak of the Cruise Lines International Association, a trade group. .....
While not exactly bullish, cruise lines say they are on track to continue their impressive record of growth in 2008, and expect to take 12.8 million customers to sea, a slight increase from the 12.6 million boarded in 2007.....
The 23 member lines in the Florida-based trade group plan to add 36 new ships over the next four years, with 8 of those coming on-line this year, Sharak said. .....
The cruise lines, have, of course, been hit with the same rising fuel prices that have put the pinch on consumers and other segments of the travel industry. Some lines have responded with fuel surcharges, a strategy that drew complaints from customers and prompted an investigation by Florida's attorney general after some operators applied the charges retroactively. .....
Question is, can the Cruise Industry really sustain itself (including adding new builds) if prices continue to escalate?
It's not just the price of the cruise - it's the airfare to and from the ship. With several airlines going bankrupt and other major carriers cutting back capacity, prices can only go up.
Not to mention the fact that if gas goes north of $5 and inflation continues people will be forced to cut back on leisure spending in general just to fill their tanks and eat.
How stable do you feel the Cruise Industry really is today?
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