Abstract
With the holiday market experiencing its first downturn in demand for over a decade, short-haul cruising is bucking the trend by growing in market size. Trips departing from UK ports are finding favour with holidaymakers who want to see Europe and the Med without flying or having to change all their Pounds into Euros. All-inclusive packages, discounts, deals and the ability to use sterling on board are making the various short-haul cruise options attractive to an increasing number of consumers. In total, almost 1.5 million cruise holidays were taken in 2008, a 10% increase on 2007. For short-haul cruises this increase was even greater, at 20% year-on-year.
This report explores cruising and in particular the role in the market and impact of short-haul cruises. It looks at what operators are offering to make this holiday option so attractive in a declining market - considering new vessels, new itineraries, on-board entertainment, significant discounts and the savings available on package deals. It investigates “whether short-haul cruising can maintain its growth in uncertain economic times and how best it can raise the awareness of cruising as a holiday choice”.
Table of Contents
- Issues in the Market
- Main issues
- Definitions
- Abbreviations
- Market in Brief
- Cruising is ahead
- Operators respond
- The re-invention of Cruising' s image
- Winning hearts and minds
- Deal-driven year ahead
- Tough economy
- Internal Market Environment
- Key points
- Declining demand for holidays
- Figure 1: Domestic and overseas holiday volumes, 2004-09
- City break casualty?
- Figure 2: Percentage of adults booking UK and overseas holidays, 2000-08
- Year of the Deal
- Figure 3: Domestic and overseas holiday expenditure, at current values,
2004-09
- Inclusive package tours back in vogue
- Figure 4: Inclusive holidays versus independent holidays, by volume,
2004-09
- Polarised holidays: near and far
- Figure 5: Overseas holidays, by region, 2003-08
- Figure 6: Top 20 holiday destinations, by estimated number of visits,
2003-08
- Domestic destinations gaining popularity
- Beware the Pirates
- Discounting full brochure prices
- SOLAS 2010
- Broader Market Environment
- Key points
- Cut-back Britain
- Figure 7: Consumer confidence index, March 08-Feb 09
- Figure 8: Trends in personal disposable income and consumer expenditure,
2004-14
- Spending intentions
- Figure 9: Spending cutbacks over the next six months, December 2008
- Concerns have become financial
- Figure 10: How concerns of the British population have shifted over the
past year/2 months, February 2008-January 2009
- Wealthier classes increase in number
- Figure 11: Forecast adult population trends, by socio-economic group,
2004-14
- Britain gets older
- Figure 12: Forecast adult population trends, by lifestage, 2004-14
- Figure 13: Trends in the age structure of the UK population, by gender,
2004-14
- Shrinking households
- Figure 14: UK household sizes, 2004-14
- Internet penetration
- Figure 15: British internet penetration at home/work/place of study or
elsewhere, by gender, age, socio-economic group, region and working status,
Jan 2004-Jan 2009
- Demise of sterling
- Figure 16: Annual average exchange rates for Sterling against the euro
and US Dollar, 2004-09
- Competitive Context
- Key points
- UK cruise market well ahead of holiday curve
- Figure 17: All holidays and cruises, by volume and value, 2004-09
- Figure 18: Short-haul holiday and cruises, by volume, 2004-08
- Strengths and Weaknesses in the Market
- Strengths
- Sampler cruises
- Celebrations and weddings
- Paying in Sterling
- Price wars
- New and bigger ships
- Weaknesses
- ' For oldies' image
- Perceived to be costly
- Not for families
- Holiday slump in general
- Getting away from others
- Market Size and Forecast
- Key points
- Figure 19: Cruise volume and value overall and short-haul cruise volume,
2004-14
- Past
- Present
- Future
- Factors used in the forecast
- Segment Performance
- Key points
- Type of holiday taken
- Figure 20: Type of holiday taken for last holiday abroad, 2004-08
- Last European holiday
- Figure 21: Type of holiday taken for last holiday in Europe, 2004-08
- Figure 22: Main method of travel used on last European holiday, 2004-08
- Figure 23: UK cruises taken, by volume, 2004-08
- Figure 24: Duration of last cruise abroad, 2004-08
- Figure 25: Volume of ultra luxury cruises taken, 2004-08
- Figure 26: Volume of ocean cruise passengers, by destination from UK,
2004-08
- Market Share
- Key points
- Figure 27: Global volume of ocean cruise passengers by market, 2004-08
- Number of vessels on operation
- Figure 28: Number of vessels and passenger capacity, by operator, 2009
- Companies and Products
- Key points
- Celebrity Cruises
- Crystal Cruises
- Cunard Line
- Fred. Olsen Cruise Lines Ltd
- Figure 29: Fred. Olsen, financial performance, 2006-07
- Island Cruises
- Ocean Village
- P&O
- Peter Deilmann River and Ocean Cruises Ltd
- Figure 30: Peter Deilmann River & Ocean Cruises Ltd, financial
performance, 2006-07
- Silversea Cruises Ltd
- Distribution
- Key points
- Cruises are booked in person
- Figure 31: How last cruise was booked, 2004-08
- Figure 32: Method used to book last cruise, 2004-08
- Cruises Taken
- Key points
- Significant potential
- Figure 33: Cruises taken and intentions, January 2009
- Cruising is niche
- Still some way to go
- Appendix -- Distribution
- Figure 37: How last domestic holiday was booked, 2004-08
- Figure 38: Method used to book last domestic holiday, 2004-08
- Figure 39: How last overseas holiday was booked, 2004-08
- Figure 40: Method used to book last overseas holiday, 2004-08
- Appendix -- Cruises Taken
- Figure 41: Cruises taken and intentions, by detailed demographics,
January 2009
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