Cruise Line Industry

Paper Summary:

This work evaluates the cruise industry, specifically the Carnival Cruise, Norwegian Cruise and Royal Caribbean companies. The evaluation uses Porter's Five Forces model to explore competition in the industry, the bargaining power of suppliers and the bargaining power of consumers. It also addresses whether the industry has substitute products and if there are new entrants into the industry. This work additionally answers the question of 'how intense is the rivalry' and whether there is a forecasting method that can be used to predict where the industry is going.

Outline:
Introduction
Porter's Five Force Analysis
Porter's Five Force Analysis Summary
Bibliography

Includes charts and graphs
Figure 1 - Forecasted Value Worldwide per Segment, Hotels, Resorts and Cruise Lines (in billion dollars) 2003-2008
Figure 2
Average Growth Rate 1980 - 2004
Figure 3
Passengers Percentage Change 1974 -2004
Figure 5 Cruise Ship Order Book as of January 1, 2004

From the Paper:

"In an April 27, 2006 report entitled: "Cabin Fever - Smooth Times Ahead for the Cruise Industry" John Zamora writes that: "...there's plenty of room for growth in the cruise industry. Currently the number of tourists worldwide who book cruise vacations stands at around 13.4 million, representing about 1.8% of the total world travel market, as estimated by the World Tourism Organization." (2006) Zamora also writes that: "Far from being disappointed at this current level of market share, the industry fully recognizes the opportunities ahead as operators expand into new types of cruises (including the niche budget option); set their targets on different demographic groups; and, head for new waters." (2006) In a November 14, 2005 report entitled: "Which Way is the Travel Industry Headed?" it is stated that a Senior Analyst at eMarketer and author of the Online Travel Worldwide report, Jeffery Grau states: Without question, the Internet has shake up the status quo in the travel industry...Traditional travel agencies are struggling to stay relevant, online travel agencies are trying to instill loyalty among their customers,. travel search engines are the new upstarts, travel suppliers are flexing their muscles and global distributions systems are looking for way to recover their waning influence." (2005) In a report entitled: "Cruise Line Industry: Trends Opportunities for Canadian Exporters 2005" reported is a case study in which the researchers conducted interviews with 21 cruise line purchasers, chandlers, distributors and brokers findings stated in the report include the facts for Worldwide per Segment Forecasts including the cruise lines shown on the chart in Figure 1."

Sample of Sources Used:

• Which Way is the Travel Industry Headed? (2005) eMarketer. 14 Nov 2005 Online available at: http://www.4hoteliers.com/4hots_fshw.php?mwi=1023.
• Robertson, Graeme (2006) Cruise Ship Tourism Industry Lighthouse Foundation for the Seas and Oceans. Online available at: http://www.lighthouse-foundation.org/index.php?id=112&L=1
• New Breed of Travelers (2006) Abacus International 25 Feb 2006 Online available at: http://www.4hoteliers.com/4hots_fshw.php?mwi=1184.
• The World Cruise Shipping Industry to 2020 (2005) Bharat Book Bureau Online available at: http://www.bharatbook.com/bookdetail.asp?bookid=7265&publisher=.
• Eberhold, William B. (2005) Cruise Industry in Figures. Business Briefing, Global Cruise 2004.

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