Middle East is the new cruise destination everyone’s got to visit
In 2009, 87 cruise ships docked in Dubai. Yet, in the last winter season alone, that figure had almost doubled to 157. What’s driving this rapid expansion? In part, it is down to infrastructural investments by Middle Eastern countries that make the area more accessible than ever before.
Carnival Cruise Line’s share price has appreciated by 27% in 2017 so far
SOURCE: Yahoo Finance
These infrastructural improvements have led to cruise lines viewing the Middle East as a great place to send their European fleets in winter months. And, because these improvements have made it easier than ever before to put comprehensive itineraries together, travellers are choosing to visit several “bucket list” destinations in a single trip – something that would have been far harder to do a few years ago.
The Middle East has no shortage of tourist attractions, from the ancient Pyramids to the new Louvre Abu Dhabi. But travelling between countries can be tricky. Difficult relationships between governments mean that many travellers have been turned away at borders for things as innocuous as old stamps in a passport from an opposed regime. At least, that’s how it used to be.
On a cruise, the company takes care of all the travel difficulties, and issues visas when passengers disembark. With the addition of company security, cruising has become the new easiest and safest way to see the region. As travellers continue to cotton on, how much more business can cruise lines do in the region?
Dominion holds Carnival Corporation in its Global Trends Luxury Fund.
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