Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Abbreviations and terms
- Terms
Executive Summary
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- Snapshot of the market
- Build the ships and still they come
- Upping the ante
- North American market share eroding
- Destination still the key
- Texans take to cruising
- Market penetration still low—but for how long?
- Billion dollar industry
- The big three soon to be big four?
- Survey research—happy consumers; growing core of cruisers; keep perfecting the all-inclusive vacation
- A very bright future
Market Drivers
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- Overview
- Supply the key driver
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- Figure 1: North American passengers by state (top six), 2001-05
- Figure 2: North American passengers by region, 1990-2005
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- Figure 3: North American passengers from North American ports, 2003-06
- Figure 4: Awareness of number of close-to-home homeports, 2004 and 2006
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- Figure 5: Perceived benefits of more North American homeports, 2006
- Figure 6: Impact of close-to-home ports on likelihood of cruising in next three years, 2004 and 2006
- To the core
- Changes in ethnic make-up
- Cruising to nowhere not the answer
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- Figure 7: Factors influencing last vacation decision (out of 10), 2006
- Figure 8: Top cruise destinations (by passenger) from North American ports, 2003-06
- Hurricane fears or economic downturn?
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- Figure 9: Cruise destinations marketed in North America, 2002-06
- Europe—the Caribbean alternative
- Alaska setback
- Hawaii, Bermuda and Mexico to follow Alaska lead?
- A broader view of Panama Canal cruising
Market Size
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- World plays catch-up with North America
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- Figure 10: Ocean cruise passengers worldwide, 2003-06
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- Figure 11: Worldwide cruise supply and demand, 2006-11
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- Figure 12: New ships currently on order/option to 2011
- Figure 13: North American cruise industry capacity/carryings, 2003-05
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- Figure 14: Capacity marketed in North America, 1990-2006
- Figure 15: North American cruise passengers, 1990-2006
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- Figure 16: Global income/expenses of North American cruise industry, 2003-05
- Figure 17: Impact of cruise industry on U.S. economy, 2002-05
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- Figure 18: Passenger/crew spending in the U.S., 2004-05
- Figure 19: On-shore spending generated by 2,000-pax cruise ship, 2003-05
Market Segmentation
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- Figure 20: New ships by sector, 1990-2009
- Figure 21: New berths by sector, 2003-09
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- Figure 22: Trends in ship capacities across worldwide fleet, 2000-09
- Figure 23: Brands, their owners and market sectors
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- Figure 24: Cruising costs, 2006
- Figure 25: Average cruise length taken by North Americans, 1981-2005
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- Figure 26: Cruise duration trends and number of passengers—North America, 2003-05
- Figure 27: Regional shares by cruise length, 2003 and 2005
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Supply Structure
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- Overview
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- Figure 28: Cruise passenger nights by company and brand, 2003-06
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- Figure 29: Largest cruise brands (berths) in North America, 2007-11
- Major cruise brands
- Carnival Corporation
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- Figure 30: Carnival Corporation financial results, 2003-05
- Charters hit first quarter carryings
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- Figure 31: Carnival Corporation, Q1-Q3 2005-06
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- Figure 32: Carnival Cruise Lines (CCL) fleet/orderbook, 1 January 2007
- Draws back from size war
- First European venture
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- Figure 33: Costa Cruises fleet/orderbook, 1 January 2007
- Winter in the Mediterranean
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- Figure 34: Cunard Line fleet/orderbook, 1 January 2007
- Classy service
- Atlantic rovers
- Forty years on
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- Figure 35: Holland America Line fleet, 1 January 2007
- Signature of excellence
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- Figure 36: Princess Cruises fleet and orderbook, 1 January 2007
- Widest destination choice
- First world cruise in five years
- Repeat business high
- Balcony dining introduced
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- Figure 37: Seabourn Cruise Line fleet, 1 January 2007
- New president
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- Figure 38: Windstar Cruises fleet, 1 January 2007
- Degrees of difference
- Other Carnival brands
- Royal Caribbean Cruises (RCC)
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- Figure 39: Royal Caribbean Cruises financial results, 2002-05
- Figure 40: Royal Caribbean Cruises—Q1-Q3 2005 and 2006
- Fourth quarter profit predicted
- Oceania bid?
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- Figure 41: Royal Caribbean International/RCI fleet/orderbook, Jan 1, 2007
- Different routes to growth
- Mega flexibility
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- Figure 42: Celebrity Cruises fleet/orderbook, 1 January 2007
- On-board product overhaul
- Ship swap
- Star Cruises Group
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- Figure 43: Star Cruises Group financial results, 2002-05
- Figure 44: Star Cruises Group, Q1-Q2 2005 and 2006
- MSC bid for NCL?
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- Figure 45: Norwegian Cruise Lines (including NCL America sub-brand) fleet/orderbook, 1 January 2007
- Youngest fleet
- Ten-pin bowling on new ship
- Hawaiian gamble
- MSC Cruises
- Fourth-largest cruise company
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- Figure 46: MSC Cruises fleet/orderbook, 1 January 2007
- U.S. expansion postponed
- Luxury ship-within-a-ship
- Cruise brands not owned by top four companies (Carnival Corporation, Royal Caribbean Cruises, Star Cruises Group and MSC)
- Contemporary sector
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- Figure 47: Disney Cruise Line fleet, 1 January 2007
- Med sells out in North America
- Premium sector
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- Figure 48: Oceania Cruises fleet, 1 January 2007
- Luxury sector (by capacity)
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- Figure 49: Regent Seven Seas Cruises fleet, 1 January 2007
- All drinks now included in price
- New ship on horizon
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- Figure 50: Crystal Cruises fleet, 1 January 2007
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- Figure 51: Silversea Cruises fleet, 1 January 2007
- New source markets
- Key partnerships
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- Figure 52: SeaDream Yacht Club fleet, 1 January 2007
- Bid for Seabourn ship?
- Sail-cruising sector
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- Figure 53: Star Clippers fleet, 1 January 2007
- Destination (soft adventure/expedition/coastal cruises) sector
- European programs
- Coastal start-up
- Budget sector
- Residential cruise sector
- River cruise sector
- Shipbuilding
- Changing nature of cruise fleet
- Issues against mega-ships
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- Figure 54: Trends in new ship prices, 2004-11
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- Figure 55: Cruise shipbuilders’ market share of current orderbook, 2006
Advertising and Promotion
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- NCL—Against the tide
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- Figure 56: Norwegian Cruise Line—1, 2006
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- Figure 57: Norwegian Cruise Line—2, 2006
- Trumped on TV
- Hawaiian wedding
- Carnival tries to corner the “fun” market; the Queen Mary II sells a “once in a lifetime” experience
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- Figure 58: Carnival Cruises, 2006
- Figure 59: Queen Mary II television travel show, 2006
- Royal Caribbean promises unlimited action
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- Figure 60: Royal Caribbean—1, 2006
- Figure 61: Royal Caribbean—2, 2006
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- Figure 62: Royal Caribbean—3, 2006
- Figure 63: Royal Caribbean—4, 2006
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- Figure 64: Royal Caribbean’s Celebrity Cruises, 2006
Retail Distribution
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- Figure 65: Use of travel agents when booking cruises, 2002-06
- Figure 66: Use of travel agents for booking non-cruise vacations, 2002-06
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- Figure 67: Information sources influencing last vacation choice, 2002-06
- Figure 68: Would consider using Internet for cruise planning/booking, 2004
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- Figure 69: Cruise distribution channels providing best service, 2006
- Figure 70: Typical contact method, 2002-06
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- Figure 71: Cruise distribution channel providing best prices (perception), 2006
- Figure 72: CLIA travel agency affiliates, 1990-2006
- ICCL absorbed into CLIA
- Appreciating travel agents
- Online training for agents
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The Consumer
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- Introduction
- Summary of consumer survey highlights
- Cruises taken in the past three years
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- Figure 73: Incidence of taking cruises and number taken in past three years, by gender, May 2005-June 2006
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- Figure 74: Incidence of taking cruises and number taken in past three years, by age, May 2005-June 2006
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- Figure 75: Incidence of taking cruises and number taken in past three years, by income, May 2005-June 2006
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- Figure 76: Incidence of taking cruises and number taken in past three years, by race/ethnicity, May 2005-June 2006
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- Figure 77: Incidence of taking cruises and number taken in past three years, by cohort, May 2005-June 2006
- Why people go on cruises
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- Figure 78: Incidence of taking a cruise in past five years, December 2006
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- Figure 79: Reasons for having taken a cruise, by gender, December 2006
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- Figure 80: Reasons for having taken a cruise, by age, December 2006
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- Figure 81: Reasons for having taken a cruise, by income, December 2006
- Why people don’t go on cruises
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- Figure 82: Reasons for not taking a cruise, by gender, December 2006
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- Figure 83: Reasons for not taking a cruise, by age, December 2006
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- Figure 84: Reasons for not taking a cruise, by income, December 2006
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- Figure 85: Reasons for not taking a cruise, by race/ethnicity, December 2006
- What would entice non-cruisers to go on a cruise
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- Figure 86: What would entice you to go on a cruise, by gender, December 2006
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- Figure 87: What would entice you to go on a cruise, by age, December 2006
The Future
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- Bright future—interest in cruising up 43%
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- Figure 88: Projections for core market in next three years, 2004 and 2006
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- Figure 89: Projections for affluent adults 25+ with HHI of $60K+ and with HHI of $80K+, 2004 and 2006
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