I took my family on a European cruise. A similar trip on land would've cost thousands of dollars more.

• Cruise prices are rising, and the added costs are impacting my family's travel budget.
• Despite the heftier price tags, I continue to book cruises because they're an excellent value.
• On a recent trip to Europe, I saved thousands sailing instead of doing a similar land-based trip. 

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 CBNC. 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.

Cruise accommodations can be cheaper than hotel rooms, especially in popular destinations

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.

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.

A side-by-side analysis of costs and ease of travel makes cruising a no-brainer

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:

• Hotels: $300 per night = $3,000
• Transportation: $150 per day = $1,500
• Excursions & Entertainment: $200 per day = $2,000
• Dining: $200 per day = $2,000

• 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.

Sailing on a cruise can also get you premium ocean-front views at a palatable price

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 generally comes out ahead.

An ocean-view room at a nice hotel can cost upwards of $450 a night, and that price doesn't include dining or entertainment. Plus, hotel prices are also on the rise, up 40% to 50% compared to 2019.

Meanwhile, a three-night sailing on the Utopia of the Seas, Royal Caribbean's newest cruise ship, can cost $533 a night. Given newer ships command more premium prices, I could likely snag a sailing on one of its other ships for even less.

In fact, the average price for a five-night Caribbean cruise in December was $736 — less than $150 per night.

At sea, I can enjoy included dining and entertainment, ocean views, and stops at beaches for an overall cost that rivals land-based hotels.

Cruise pricing and demand have changed the way I book, but I'm still sailing

With high demand for cruises, I've found deals are getting harder to come by.

Although I snagged a last-minute booking to Europe last summer, this year's search yielded mostly high prices and sold-out sailings.

But given everything included in these types of vacations, I'm still willing to pay for them, even if they cost me much more than before.

That said, my days of cruising on a whim are over. Travelers need to make reservations early to secure spots on in-demand ships.

I just booked my family on a cruise around New Zealand that's not setting sail until December 2025. It feels strange to book a trip this far out, but at least I have time to save up for the cruise's eye-watering $9,000 price tag.