Our Service Delivery Manager and Sales & Marketing Coordinator (Freddy L & Colm B) both headed into South Bank to attend the Cruise Trade News: Cruise Summit. Upon arrival we were met with airport level security at the entrance that checked our bags and *provisional* driving licenses. The interior of the building was considerably more lavish than what we were used to. It was truly surreal to grasp the fact that we were situated in the same building as renowned national organizations such as the Sun, talkSPORT, and The Times.
The first two sessions were about the industry insights and travel trends of the industry. An intriguing statistic that was revealed is that a third of global cruise travellers opt for ships with less than 1000 guest capacity, another third chooses ships ranging from 1000-3000 guests, while the final third prefer ships with over 3000 guest capacity. Most people think the average cruiser is an individual over 60 years old that has retired. However, this is no longer the case. Despite the discrepancy in figures presented by two speakers with differing data sets, they ultimately agreed that the average age within the industry is decreasing.
When examining the key factors influencing individuals in the UK to purchase a cruise, it comes as no surprise that price ranks highest at 92%, closely followed by the allure of the destination at 84%. With the UK, currently amid a cost-of-living crisis, people do not have as much disposable income to spend on a holiday. Yet, studies show that the UK public will forego anything except a holiday. Typical!
Given the well-known environmental impact of the cruise industry, we were eager to hear from cruise industry professionals about their plans for implementing positive change. Andy Harmer, MD of CLIA UK, suggested "Whatever the colour of the next UK government, we need to insist on them accelerating the availability of alternative fuels". There are many ports in Europe that are establishing their own charging stations for electric cruise ships. However, in most places there is not the infrastructure to facilitate for this to become a reality. Interestingly, data reveals that a mere 2% of sustainability initiatives succeed. This lack of success may be attributed to the inconvenience of implementing environmental practices effectively.
In the afternoon, there were Tech Talks conducted by Meta, Google and Force24. As a one-stop-shop technology and business services provider for the cruise industry, these discussions really struck a chord with us. AI was at forefront of all the discussions and how it can help streamline operations. From predictive analytics , automated advertisements to personalised cruise recommendations, the potential of AI in the cruise industry is immense. As it stands, AI powers 20% of our news feed, but by as soon as 2025, this is projected to reach 100%. Isn't 2025 just around the corner?
Conclusion
The Cruise Trade News Summit provided valuable insights into the evolving trends and challenges within the cruise industry. From shifting demographics to the growing importance of sustainability initiatives, the industry is undergoing significant changes. The integration of AI and technology further highlights the potential for innovation and efficiency. As we look towards the future, it is crucial for industry professionals to collaborate and drive positive change. If you would like to check out some of our other blogs, please visit: Blog | theICEway
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