Carnival Cruise Corp. CEO Arnold Donald.

Investors should book a trip on Carnival Corp.'s (CCL - Get Report) stock. 

Shares of the cruise line known for its hot party scenes and general affordability, have tumbled 4% this year on multiple concerns. Chief among them is a coming industry uptick in new ships set to sail the waters. That has prompted Wall Street to fear a discount war among the major cruise lines, especially if the U.S. economy slows sharply in 2019 as many speculate.

Meanwhile, the recent spike in oil prices has soured the short-term investment thesis on cruise lines. After all, it takes a lot of fuel to operate a floating hotel. 

Despite that, investors are probably missing the big picture on cruise stocks such as Carnival Corp. That is with more boomers retiring and millennial wealth growing, cruise ships offer great value for one's travel dollars. "The outlook for the cruise industry is bright," Carnival Corp. CEO Arnold Donald told TheStreet on its latest Jolt podcast. Donald also discussed why it's so important to have a diverse set of thinking inside of companies.

Listen to the full interview below. 

TheStreet just sat down with Norwegian Cruise Line (NCLH - Get Report) CEO Frank Del Rio to discuss the cruise industry. Watch here