Speaking onboard Explora Journeys’s newest ship Explora III, McKinsey & Company Milan’s Senior Partner Nicola Sandri revealed that luxury cruise passenger volumes have grown from around 400,000 in 2015 to 1.2 million last year, but added this represents fewer than 1% of the estimated 200 million luxury travellers globally. “The order of magnitude is unmistakable,” he said.
Speaking to a room of assembled trade partners, Explora Journeys President Anna Nash added these figures backed the MSC Group’s investment in its ultra-luxury ocean brand, with the line on target to represent a quarter of all ships at sea in the category.
“I just wanted to share this validation with you, around what we as a brand are doing. With three ships now sailing, and three more to come, Explora Journeys will represent 25% of the global ultra-luxury cruise fleet capacity by 2028,” Nash said, indicating the sector had still barely scratched the surface of its potential.
“We are growing very, very fast, and our ships are full,” she added. “Explora Journeys is part of an industry that really has its best years yet to come.”
'The real question we should be asking ourselves'
McKinsey’s research identified the 40-59 age group as the fastest-growing segment of the luxury travel market, expanding at between 12% and 15% annually, making this a cohort that could double in commercial importance within a decade. ‘Tomorrow’s customers’ will also drive the growth significantly as they turn to cruise based on their stated travel needs, Sandri said.
“Among younger luxury travellers aged 20-45, the three dominant travel wishes were identified as family legacy building, heritage and discovery, and supporting local communities and these are motivations that align almost perfectly here with Explora Journeys,” he said.
Nash and Sandri both agreed that the growth in luxury cruise would not necessarily come from existing cruisers. “The future of luxury cruise might well be shaped by people who have never cruised before: the next luxury cruiser may never even search for a cruise. But they already value what the best of luxury cruising offers – the industry does not need to invent a desire. It needs to translate what’s already there,” said Sandri.
The real competition for luxury cruise is not other cruise lines, it is exceptional resorts, private villas, safaris and bespoke land itineraries, he added. “The industry should stop asking only how do we win more cruisers. Instead you should ask, ‘how do we win more luxury travellers?’.”
'Agents were selling us before we had ships in the water'
Nash echoed this directly, pointing to a new global brand campaign launched in 2026 designed specifically to challenge perceptions and inspire audiences who have never previously considered ocean travel, adding Explora Journeys is “changing how cruise lines market luxury travel” more broadly.
She also gave huge credit to the trade who have supported the line. “Our travel advisor community believed in us from the beginning - many of you were selling Explora Journeys before we even had ships in the water.”
With Explora III now sailing, two further ships following in 2027 and a fifth vessel arriving in 2028, Nash was clear about what comes next. “We are scaling thoughtfully while preserving the intimacy and elevated experience that defines our brand. So I’m asking all of you to dig deep and help us get there.”
McKinsey’s projections suggest the conditions have never been more favourable. The global luxury cruise market is expected to grow at around 10% annually through 2035, reaching 2.7 million passengers, while the number of wealthy individuals worldwide is projected to rise from 200 million today to 340 million by 2035, adding 140 million additional potential clients in a decade.