CHART 4 | 11 The TMR Distribution Outlook 2020 had predicted that river cruise would pick up in the coming years. And the current outlook reflects this. While cruising remains popular, more advisors expect to sell river and expedition cruises in 2024. This also shows the evolution of the cruising industry with more clients willing to spend for a more luxury and niche experience. Along with the seasoned traveler’s willingness to exper- iment, another factor pushing river cruises could also be the launch of new ships 7 and the variety of itineraries along the routes, in addition to the access to city centers that river cruising offers. 2023 2024 7 https://www.travelagewest.com/Travel/River-Cruise/new-river-cruise-ships-2023 ANNUAL CRUISE SALES BY PRODUCT, WEIGHTED SHARE BY ANNUAL CRUISE SALES (%) DISTRIBUTION TRENDS Ocean River Expedition 70% 23% 7% 64% 28% 9%