Cruises Profit as Cost-Conscious Travelers Set Sail This Summer

America’s Independence Day holiday is fast approaching, but instead of the usual beach barbecues and fireworks displays, many US travelers are setting sail for some exotic port.

The cruise industry has emerged as the popular option for cost-conscious vacationers looking for something more affordable than a typical trip. From January through May, Americans across income levels cut their spending on airlines, lodging and other forms of leisure as economic uncertainty rose and the US dollar weakened, but cruises kept growing, a Bank of America Institute study found.