When people feel good and have money to spare, they like to spend it. It could be a new car, a big flat-screen television or perhaps the latest iPhone. Increasingly, though, people are shunning material goods for experiences.
This is good news for leisure groups such as Carnival, the largest cruise operator in the world. The group owns the Anglo-American brands P&O Cruises and Cunard, among others, and operates more than 100 ships including the Queen Elizabeth and Queen Mary 2. Carnival exists as two legal entities — one incorporated in England and Wales, the other in Panama — but operates as a single company with headquarters in Miami, Florida. It has a dual listing in New York and London.
Last year was a