'Seize the day and book a cruise'

Thinking of booking a cruise? With gloomy economic news from every quarter, you might be tempted to wait, thinking fares will come down. But my advice is don’t delay – because the likelihood of falling prices, especially in the luxury sector, is minimal.

Why? First of all, because of exchange rates. With so many cruise companies based in the US – including the big three of Carnival, Royal Caribbean, and NCL – the majority of cruises are originally priced in dollars, so as the pound falls in value, British customers will pay more.

For example, if a cruise line budgets for a daily fare of $650, that’s a sterling equivalent of £450 at pre-Brexit rates but £580 as I write this. Then there’s the rising cost of fuel, with knock-on effects especially for luxury fly-cruises (a club class flight to LA could easily cost £5,000 today, when not long ago it was half that).

Yes, cruise lines have previously cut prices to sell remaining space in the final weeks before departure. But currently, they would rather sail under capacity, rather than upset key high-spending clients with late discounts.

Finally, with inflation running at over 10 per cent, cruise fares will tend to rise like any other consumer item.

Cruising is still great value, especially compared with equivalent hotels (think of all those amazing inclusions). If fares do fall, then your agent will work with the cruise line to ensure you are not disadvantaged. And remember, even if the cruise itself is reduced, the cost of flights might bring the total back up to where it is today.

So if there’s a cruise you’ve set your heart on, or you’ve spotted a great bargain, I’d say go for it. Then you’ll have something to look forward to – and we could all do with that right now.

Edwina Lonsdale is MD of Mundy Cruising, specialists in luxury travel