Cruising industry 'holds its own in the credit crunch'

The cruise industry is holding its own during the credit crunch, one expert has said.

According to the Passenger Shipping Association (PSA), recent figures have revealed the second year of consecutive double digit growth in the industry while other travel firms face tough times.

P&O Cruises and Cunard published figures last week which indicated a record-breaking 47 per cent increase in first day sales for their 2011 world voyage.

Furthermore, the PSA reports an 11 per cent early growth in custom and believes that 2010 will be another good year for the industry, though perhaps not with such steep increases in cruising.

Penny Guy, PR director at the PSA, said: "Cruising has been resilient and has held its own during this downturn in the economy in comparison with many other travel sectors.

"It continues to remain popular, and I think that's driven by the value for money that cruising offers."

She added that the advantage of cruises is that holidaymakers can see their board, meals and travel expenses all in one price.

Furthermore, the fact that travellers can book their cruises in sterling means they will not suffer at the hands of the UK currency's currently poor exchange rate with the euro.

"The industry continues to grow in popularity and cruising continues to be a popular choice of holiday - it's particularly well received [for its] value for money," Ms Guy explained.

P&O Cruises and Cunard 2011 world voyages reported this month that on July 1st 2,044 people booked voyages from the two programmes, compared with 1,385 bookings in the previous year.

The PSA revealed that overall the number of cruises taken in 2008 rose to 1.48 million with this type of holiday now accounting for 8.3 per cent of all package holidays and 3.3 per cent of all foreign trips.

According to the organisation, the double-digit growth trends seen over the past two years will return in 2010 given the commitment of more ships to the UK market.

Ms Guy concluded: "The research we've seen suggests that people still want to go on their holiday, but they just want to ensure that they are getting value for money on the holiday they choose."