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Norwegian Cruise Line CEO on Why the European Market is Hot

More Europeans are opting for cruise-based vacations as they realize the value inherent to an all-inclusive travel package. Norweigan CEO Kevin Sheehan is capitalizing on this change.
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It looks like Americans, more than their European counterparts are all about taking cruise vacations. A recent poll says approximately 24% of the U.S. population has been on a cruise-based vacation, that's compared to a mere 3% of the European population. But, the percentage of Europeans opting for cruises is on the rise from its low level as Europeans realize the value inherent to an all-inclusive vacation package. Economically improving countries in Europe have also helped to spur rising interest in the cruise industry. As a result, cruise line operators such as Norwegian Cruise Line and Royal Caribbean are positioning more of their ships around Europe to capture the building demand. In an interview aboard the Norwegian Breakaway, the company's CEO Kevin Sheehan shares with TheStreet's Brian Sozzi what's now driving the European cruise market, as well as what are a few of the hotter destinations this summer. One hint? The Baltic region is big this season.