The luxury cruise market saw a 14 percent increase in sales in 2024 for Virtuoso travel advisors.

According to the luxury travel network, the growth is not only related to cruising’s specific characteristics but also because of the new players joining the space.

[For a complete overview of the market, see the 2024 Luxury Market Report by Cruise Industry News.]

“It’s becoming much more interesting to our top clients,” said Fernando Gonzalez, CEO of F1rst in Service, an upscale travel company with operations in six different countries.

Speaking at the 2024 Virtuoso Travel Week, he said that the new products are being introduced in response to different needs.

“Every major luxury player out there is now launching something, whether it’s a yacht or a boat or some sort of very high-end experience,” Gonzalez added.

New luxury brands joining the market over the next few years include Four Seasons Yachts, which is currently building two 180-guest vessels at the Fincantieri shipyard. The mega-yachts are scheduled to debut in 2025 and 2026.

Orient Express is also making its debut in ocean cruise with two purpose-built sailing yachts. The 108-guest vessels are being built at the Chantiers de l’Atlantique shipyard, with deliveries scheduled for 2026 and 2027.

Other brands entering the international luxury cruise space include Sama, Ryobi, Alma Cruceros and Mitsui Ocean Cruises.

The new companies join several brands that debuted over the past few years, such as Emerald Cruises, The Ritz-Carlton Yacht Collection, Explora Journeys and Atlas Ocean Voyages.

Traditional brands are also expanding their portfolios, with brands like Regent, Viking, Crystal and Windstar set to take delivery of several new ships in the near future.

According to Virtuoso’s data, yacht cruising is the niche that is seeing more growth within the luxury space, with sales up 52 percent compared to 2023.

Other segments, including expedition cruising and traditional ocean cruising, also saw double-digit increases in the same timeframe.