Research Paper on:
Report on the Cruise Line Industry

Unformatted Sample Text from the Research Paper:
and evolved over the last few decades into a more mainstream leisure industry. As with any other industry there are many commercial pressures that impact on performance and development. An  industry report into this sector of the travel and leisure industry will show this more mainstream status of the sector and indicate pressures and potential responses that may be seen  in the future. II. The Cruise Line Industry Background; Dominant Features The passenger cruise industry is one that has changed over the years. Cruises now reach many areas of  the globe previously inaccessible, as well as developing shorter and more local cruise options. Considering the very high capital costs involved in the industry as well as relatively high overheads,  the average growth rate of 8% over the last decade is astounding (WTTC et al, 2002). In the US alone the industry is with $18 billion a year (Perkins, 2001).  The growth in demand has been accompanied by increases in capacity, this is a growth in capacity that is projected at continuing (WTTC et al, 2002). The development of mega-liners  is also adding to this capacity with ships that can carry 3,000 or more passengers in a single sailing (WTTC et al, 2002). The luxury vessels are also increasing in  numbers (WTTC et al, 2002). G P Wild; an analysis has estimated the that the number of cruise passengers in 2001 was 9.8 million globally. The projected increase is  more than 100% by the year 2010 with an estimated carriage of 20.7 million passengers (WTTC et al, 2002). The largest global market is that of North America, the  2001 level of 6.8 million passengers is projected at increasing to 11.9 million by 2010, in Europe the 2001 figure of 1.3 million is estimated at growing to 5.3 million