Royal Caribbean Group chief executive Richard Fain said the arrival of competitors, such as Virgin Voyages, comparing the brand’s launch to Disney’s, helps to attract attention to cruising.
"New players benefit us as they attract attention," he said. "They’re adding more to demand than they are supply."
According to Fain, the "real competition" is in land-based holidays and other discretionary purchase like wide-screen TVs.
Arnold Donald, president and chief executive of Carnival Corporation, said: "We’re a tiny industry with 30 million cruisers [annually] pre-Covid, while there’s opportunity of over half a billion people a year who take vacations."
The cruise leaders also discussed the future of the industry post-pandemic, with Fain predicting ships in core markets to return to 100% occupancy by the end of the year.
"Every day, we’re getting further and further along the road of demonstrating how [effective our protocols are]", he said.
"People have moved from the zero-risk mindset," Donald added. "They’re used to dealing with risks in their daily lives and those who’ve cruised are comfortable with the environment because they know how much care is taken on board.
"The most powerful marketing tool there is word of mouth. As we continue to sail safely and successfully and people have the time of their life, they’re going to communicate that."
Clia global chairman Pierfrancesco Vago projected that 80% of the global cruise fleet will be back in operation by 2022, with 220 ocean vessels carrying passengers by then.
