Cruise Lines: Special Report: What Do Rising Airfares Mean for Cruise?

Research evidence excerpt

Cruise Lines: Special Report: What Do Rising Airfares Mean for Cruise?

Deutsche Bank

Research

North America Industry Date

Gaming & Lodging 28 May 2026

Cruise Lines

Special Report: What Do Rising Airfares Mean for

Cruise? Chris Woronka

Research Analyst

+1-212-250-9376

Recent Survey Work Suggests Rising Airfares an Issue for Some Cruise Guests

The DBDig team recently conducted a survey of more than 350 cruise guests to gauge the Tiana Malhotra

impact that rising airfares might have on future booking behavior. Our key takeaway is that Research Associate

+1-212-250-9534

it seems difficult to envision a scenario where there isn’t some impact on overall demand

and/or spending patterns should high oil prices keep airfares at, near, or above their

current (elevated) levels as we move closer to the meaty part of the 2027 booking curve.

In the following sections, we provide further insights into what our survey revealed about

cruisers’ willingness to pivot their cruise preferences or consider an alternative mode of

vacation altogether.

▪ A striking 42% of all respondents indicated that rising air travel costs have

impacted their cruise travel habits or decisions. This figure escalates significantly,

to 61%, among younger demographics (18-34 years old), confirming a heightened

sensitivity to price among this cohort, which we view as representing an

important growth segment for the cruise industry. Conversely, older age groups

(55+ years old) appear less affected (22%), likely due to higher net worth and less

ability/desire to pivot to alternative vacations.

▪ Consumers are actively seeking ways to circumvent high airfares without forgoing

a cruise altogether. The most prevalent strategy, adopted by 54% of our survey’s