Last year, the cruise industry worldwide carried around 20 million passengers.
All of those very expensive consultants we employ tell us that there are an additional 24 million people in North America who are interested in going on a cruise in the next 5 years. But they have 2 challenges:
1. Many of them cannot yet afford to go.
2. There are no beds available for them.
Those same consultants tell us that China alone has over 300 million people in their rapidly expanding middle class who want to go on a cruise. Most of them can afford to go.
But they have 1 challenge:
1. Not enough ships or beds for them to go.
Those same consultants also point out that Japan's Middle Class is nearly as large as America's shrinking Middle Class.
They are just getting into cruising.
These middle class members are the Cruise Lines' target market.
But the Japanese typically pay double what the Americans are paying for the same cruise.
Where do you think the cruise line CEOs are looking?