Cruising to a credit crunch-free market

The cruise sector has sailed through this summer season with no problems, so far, it has been reported.

According to cruise retailer Cruise118 British holidaymakers have been booking their ocean adventures as if they have never heard the term credit crunch, reports the Press Association.

Furthermore, the cruise sector is set to increase by 14 per cent, with Brits lapping up the US cruise ships in particular.

This may be because Brits have realised that their money will go further in US seas due to the exchange rate.

However, the upward trend for cruises is not confined to America; the European market has shot up by 20 per cent in the last three years as the new trend of "flash-packing" takes off.

This craze is for the older generation which wants the excitement and experience of their back-packpacking offspring but are not agile enough to get it.

All-inclusive cruise holidays allow them to see the world at a reasonable price, with all their meals and drinks thrown into the bargain.

Cruise118 director James Cole told the Press Association: "Going on a cruise is more popular than ever as consumers become savvier in seeking value-for-money deals for their holiday.

"This is why the cruise sector is actually benefiting from the current credit crunch. People are still spending on holidays and want to continue to visit new places, but are more aware than ever of how far their money will stretch."

He added that Brits have a hunger for travel which the credit crunch has failed to diminish.

The cruise expert's comments have been reinforced by a survey conducted by Abbey which revealed that budgeting Brits are prioritising taking a holiday over saving for the future.

Over 60 per cent of respondents said they were willing to dip into their savings to ensure they made it to foreign shores this summer.

Furthermore, the average holidaymakers will spend £1,650 – ten per cent of their net income – on taking a luxury trip out of England.

UK tour operator Thomas Cook has also reported that Brits are weathering the increase in costs of cruises and other holidays well.

Despite foreign trips rising in price by 14 per cent, UK travellers are determined to see some sunshine this summer and will dig deep into their pockets to finance it.