In the retail travel industry experience is a pay-off. That is evident when one looks at the difference in revenue for those who have spent more years in the business. Forty-two percent of those above 30 years in the indus- try said they grossed over $1 million in 2022. While the higher share of ICs and relatively younger advisor age groups bode well for sales of the cruise segment in future, they currently account for the lion’s share of less than a million dollars in annual sales. Yet, the lesson here is of persistence as expe- rience reaps rich dividends as is evident in the increase in revenue with each experi- ence slab. CHART 22 | 33 ADVISOR DEMOGRAPHICS 48% 17% 8% 31% 32% 37% 42% 43% 26% 27% 34% 28% 52% 83% 92% 69% 68% 63% 58% 57% 74% 73% 66% 72% Agency Business Type Advisor Age Location Years in Business Advisor/ IC Up to 5 years 6-10 years 11-20 years 20-30 years 30+ years 18-44 years 45+ years United States Canada Total ANNUAL GROSS SALES BY BUSINESS TYPE, YEARS IN BUSINESS, LOCATION & ADVISOR AGE More than $1m Up to $1m