Jason Liberty, CEO of Royal Caribbean Cruises, discusses the cruise industry's impressive post-COVID-19 recovery, highlighting sustained and growing customer demand. He points out that the cruise industry, generating around $65 billion a year, represents a small fraction of the $1.9 trillion global travel economy, offering vast potential for growth. Liberty emphasises the value for money of cruises compared to land-based holidays and notes a growing preference for experiences over material goods, a trend that has accelerated in the wake of the pandemic. He also sees an increase in multi-generational travel and a demand for unforgettable experiences.

He talks about the increase in repeat bookings among loyal customers and the growing appeal of cruises to new customers and younger generations.

Looking ahead, Liberty says Royal Caribbean is focused on strengthening its core business and harnessing technology, such as artificial intelligence, to enhance the customer experience. It is not ruling out the possibility of mergers and acquisitions to enhance the customer offering. In the face of competition, including new companies such as Viking Holdings, Liberty points to the high barriers to entry in the cruise industry and Royal Caribbean's aim to offer a wide range of holidays and experiences, aiming to compete more closely with land-based holidays.

 


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