Riding the Wave: Cruise Industry Prepares for A Record-Breaking Year

Last Updated: January 12, 2024January 30, 2024

ST. PETERSBURG, Fla., Jan. 11, 2024 — With wave season upon us, cruise lines brace themselves for a potentially record-breaking year on the high seas. 

This maritime momentum has been building over the past three years. New data from Squaremouth, the nation’s leading travel insurance marketplace, reveals that the cruise industry is poised to make a big splash in 2024, shattering records along the way. 

The Resurgence of the Cruise Industry

Squaremouth has witnessed unprecedented growth within the cruise industry since cruise travel resumed in 2021.

Last year, travelers bought cruise insurance policies in record-numbers, as more customers purchased plans with the ‘Cruise’ filter than any year in the company’s 20+ year history. Squaremouth reported a 29% increase in cruise sales over 2022, and a 200% increase over 2021.

Squaremouth predicts this growth to continue in 2024. According to a recent survey, 26% of customers are taking a cruise on their next trip, compared to 20% in early 2023.

Top Tips for Cruisers in 2024

If you plan on cruising in 2024, Squaremouth recommends the following tips: 

• Take Advantage of Wave Season Pricing: The cost of travel does not appear to be going down anytime soon. Wave season presents an opportunity for special cruise offers over the next couple months. 
• Protect Your Cruise Investment: From missing your ship’s departure due to a delayed flight to your itinerary being impacted by inclement weather, cruise insurance can provide peace of mind and financial protection from major travel disruptions. 
• Get Overseas Medical Coverage: Many primary healthcare plans don’t offer coverage outside the US. Travel insurance can provide Emergency Medical and Medical Evacuation benefits in case of an emergency during your cruise.
• Stay Organized: In the event you need to file a claim with your insurance provider, you will need to provide specific evidence and documentation, including travel details, receipts, booking confirmations, and travel supplier communications.