Occupancy under pressure as cruise supply ‘likely to outpace demand’
Will PayneCruise occupancy levels and pricing are set to come under pressure in the coming years as supply outpaces demand, according to new data.
The prediction comes from Tourism Economics’ new Cruise Intelligence Platform (Cruise-IP), which found cruise lines will face "critical choices" in regional capacity deployment, with risks of over-supply in some markets.
Cruise operating capacity is on pace to exceed 2019 levels by 16% in 2024 and supply growth is anticipated to slow in 2025, but capacity should grow by roughly one-quarter in the medium term.
Recent booking activity indicates "robust" demand with a record pace of new bookings, Tourism Economics said, with pent-up demand for cruising along with substantial remaining household savings buoying demand.
"We have monitored, analysed and forecasted travel activity for more than 20 years," said Adam Sacks, president of Tourism Economics.
"With the launch of Cruise-IP, we have deepened this coverage with the most detailed and comprehensive datasets available, covering the entire cruise ship fleet across more than 2,500 cruise destinations."
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