Will the Cruise Industry Bounce Back in 2023?

woman on beach, arms raised above her - will the cruise industry bounce back

With the many difficulties over the past few years, many travelers wonder, “Will the cruise ship industry bounce back?” In one of the greatest comebacks of business history, travel lovers have proven to the world that they are ready to pursue their passion of exploration! People are excited to travel again, and many have their sights set on cruises in 2023.

The Travel Industry Bounces Back

The future of the cruise industry looks bright, thanks to the increasing number of people traveling again. The United Nations World Tourism Organization (UNWTO) anticipates that 2023 tourism numbers will return to pre-pandemic levels in Europe and the Middle East and increase overall. In 2022, the UNTWO reported that over 900 million people traveled internationally, reaching 63% of pre-pandemic levels.

Bloomberg reports that nine out of 10 American travelers plan to travel within the next six months. Because of inflationary and economic pressures, many travelers will look to travel closer to home and will search for the best value for their vacation. 

Skift Research also anticipates a big jump in tourism for 2023, citing the reopening of Chinese borders and the Travel Health Index as primary reasons. They estimate that international trips will grow 50% in 2023!

Carnival Cruise Line’s Fourth Quarter

As one of the world’s largest cruise operators, the success of Carnival Cruise Line is a great metric by which to measure the health of the overall industry. The Carnival Cruise Lines earnings report from the fourth quarter of 2022 shows promising results. Carnival Corporation reported $3.8 billion in revenue, reaching 80% of 2019’s levels – up from 66% of 2019 levels in the third quarter. Since it was the last full year of regular operations, 2019 remains the best comparable year.

During their peak booking period, many of Carnival Corporation’s cruise lines broke records for their Black Friday and Cyber Monday sales. As a result, the number of bookings during the fourth quarter of 2023 is near 2019 levels. November even surpassed 2019 in the number of bookings made.

For 2023, they’ve prioritized advertising to increase excitement surrounding destinations and cruises. Already, many people have booked cruises for 2023 and beyond. Currently, they’re above the historical average for advanced bookings.

The Future of Cruises at Dream Vacations Franchise

At Dream Vacations Franchise, we’ve predicted and prepared for the ongoing travel boom – and our franchisees have capitalized on it! Sales have increased compared to 2019, with cruise vacations alone rising 23%. Selling prices have also increased by 6%, meaning higher profits for our family of business owners.

Vacation demand continues to rise as the traveling public looks to expand their horizons. With many Americans experiencing an increased cost of living, people are searching for the best possible value for their holiday – which is where Dream Vacations franchise owners can come in. Our franchisees are able to give customers exclusive offers not found by booking directly, as well as the assistance and care of a travel advisor.

Open Your Own Travel and Tourism Franchise

So, will the cruise ship industry bounce back? All signs point to yes! Millions of travelers have already booked cruise vacations over the past few months – and that number will continue to grow. If you’re wondering how to get into the travel industry and be a part of the “boom”, now’s a great time to join our travel family and open a Dream Vacations Franchise! We’re an experienced community of travel lovers passionate about helping clients go on their dream vacations. To learn more, sign up for one of our webinars today.