Investing.com -- Bank of America credit and debit card data showed cruise spending in May increased 8.4% compared to the same month last year, according to a Friday report. The growth rate slowed from April's 15.8% increase and exceeded March's 6.7% rise.

Cruise spending in May fell 4.7% from April on a month-to-month basis. This decline was larger than the average sequential decrease of 0.5% seen from 2023 to 2025.

When compared to May 2024, cruise spending grew 13.7% in the most recent month. This figure was 2 percentage points below April's 15.9% two-year growth rate and matched March's 13.6% increase.

Total travel spending rose 6.0% year-over-year in May, matching April's 6.5% growth rate. Airline spending increased 8.9% while hotel spending gained 2.8%.

Bank of America stated that monthly spending data has shown a 75% correlation with industry net yields on a one-quarter lag since 2008, excluding the pandemic period.