Plans to cruise during the next 12 months fell from 15% of the wealthiest US households in the Spring 2010 survey to match the record low of 12% (Spring 2009 survey) according to an October 15 report from The American Affluence Research Center.
The affluent will continue to be an important source of business for the premium and contemporary cruise lines, as well as the luxury lines. At 12% of a population of over 11 million households, an estimated 1.4 million households (or 2.7 million total cruisers) will cruise over the next 12 months.
The older and wealthier respondents are much more likely to cruise during the next 12 months.
The American Affluence Research Center has been conducting its twice yearly affluent market tracking studies of the wealthiest 10% of US households since 2002. Intentions to cruise have been as high as 22% (Fall 2007 survey) and has typically ranged from 15% to 19% since the inception of these surveys. The new survey is the basis for the report titled Fall 2010 Affluent Market Tracking Study #18.
The new report is based on 439 male and female survey participants who have an average annual household income of $290,000, an average primary residence value of $1.1 million, an average net worth of $3.1 million, and average investable assets of $1.7 million. Their average age is 56 and 91% are married.
The lower intentions to cruise are consistent with the overall mood of the affluent survey respondents, who indicated a gloomy 12 month outlook for business conditions and personal household income.
Detailed highlights of the survey can be viewed at: http://affluenceresearch.org/most-recent-tracking-study/highlights-of-most-recent-survey/