Cruises are expensive but they're the best value. My family's cruise cost $3,500 less than a similar trip on land.

17.07.2024 - 21:43 / insider.com / David Bernstein

Although the cost of a cruise is going up, this form of travel is still the best value for a family vacation right now.

The average price of a cruise is up more than 40% since 2019, according to Cruise Critic data reviewed by CNBC. Pent-up demand has contributed to record-breaking bookings and advance ticket sales.

Inflation hasn't slowed the industry down, and costs might not be done rising, either. In December, Carnival CEO David Bernstein told investors the cruise line is "well positioned" to drive its prices up this year.

As a frequent cruiser who's sailed more than 50 times, I've navigated these increases over the past few months and found cruises are still a better deal than trips on land.

Last summer, my family of three booked a 10-night European cruise to Norway and Iceland on the Norwegian Prima.

Our cruise fare alone amounted to just over $5,000. Although I secured a discounted price by booking during a last-minute sale, this was the most I've ever paid for a cruise.

Before I booked, I priced out hotel rooms throughout Norway and found that even basic stays in most destinations topped $300 a night.

Food costs were equally staggering: A basic medium McDonald's meal in Norway can be nearly $15. Finer fare, similar to what's included on cruise ships, costs even more.

After adding the train tickets, rental cars, and tour buses needed to get around the country to see as many places as we'd see on the cruise, my daily costs jumped even higher.

By comparison, my cruise offered a nearly all-inclusive experience that bundled dining, transportation, and more into one straightforward fare for about $500 a night.

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It also included access to Broadway-style shows, pools, water slides, and family-friendly activities as we sailed between our itinerary's seven ports of call. And as a mom, having access to a ship's complimentary kid's club was priceless for getting alone time.

As I broke down my costs for a potential land-based trip through Norway, it became even more obvious that cruising was the less expensive option for my family.

Estimated costs for a 10-day Norway land-based trip for my family of three:

Total: $8,500

(I excluded airfare, a necessary cost for both land and sea trips.)

Although my cruise's $5,000 initial price tag felt steep, this breakdown showed me it was far cheaper than the alternative.

Plus, I'd save so much hassle by not having to map out logistics myself and keep track of a slew of independently booked activities every day.

As a Floridian, I live near a major cruise port and don't always have to fly to go on a cruise. However, when comparing the costs of a beachfront hotel close to home and a Caribbean cruise setting sail from a local port, the latter still