Nearly 19 million Americans are expected to embark on cruise vacations in 2025, marking a 4.5% growth from 2024, according to a forecast released by travel group AAA. While this figure represents a significant volume, it highlights a cooling in growth compared to previous years. In 2024, passenger volume rose by 7.7%, while 2023 saw an exceptional 42% surge as the industry rebounded sharply from pandemic disruptions.
Despite the slowing pace, 2025 is set to become the third consecutive year of record-breaking passenger numbers for the cruise industry. The Caribbean is projected to remain the top destination for American travellers, with major cruise operators continuing to attract strong demand.
Companies like Royal Caribbean, Carnival Corp, and Norwegian Cruise Line Holdings have benefited from record interest across diverse age groups, even as itinerary prices have risen. This surge in popularity propelled their stock prices in 2024, with Royal Caribbean shares increasing by 78%, while Carnival and Norwegian Cruise shares grew by 34% and 28%, respectively.
AAA’s forecast considers scheduled cruise itineraries, broader travel trends, and economic projections. Compiled in partnership with Tourism Economics, a division of Oxford Economics, the outlook signals sustained interest in cruising, albeit at a moderated growth rate as the post-pandemic boom stabilises.
