The cruise tourism global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cruise Tourism Market, 2024The cruise tourism global market report 2024
Market Size –
The cruise tourism market size has grown strongly in recent years. It will grow from $6.38 billion in 2023 to $6.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing disposable income, growing global population, growing popularity of cruise destinations, growing number of travelers, and growth in popularity of online booking and marketing.
The cruise tourism market size is expected to see strong growth in the next few years. It will grow to $9.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rising demand for luxury travel, growing emphasis on sustainability and eco-friendliness, increasing popularity of themed cruises, increase in millennial and GenZ generation travelers, and increasing social media influence. Major trends in the forecast period include eco-friendly and sustainable practices, expanding luxury and niche markets, technological innovations, health and safety enhancements, and the emergence of new destinations.
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Scope Of Cruise Tourism Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cruise Tourism Market Overview
Market Drivers –
The expansion of the tourism industry is expected to propel the growth of the cruise tourism market going forward. The tourism industry encompasses travel, accommodation, and recreational services provided to individuals for leisure, business, or other purposes. A rise in the tourism industry typically reflects increased travel demand, economic growth, and improved consumer confidence. Cruise tourism significantly boosts global tourism by offering unique travel experiences and contributing to economic growth through port-related activities and expenditures. For instance, in May 2024, according to the Office for National Statistics, a UK-based national statistical institute, the UK saw a rise in overseas visitors, with 38.0 million trips in 2023 compared to 31.2 million in 2022. These visitors spent $39.99 billion (£31.1 billion), an increase of $5.91 billion (£4.6 billion) from the previous year. Conversely, UK residents took 86.2 million trips abroad, up from 71.0 million in 2022, and spent $93.07 billion (£72.4 billion), which was $17.87 billion (£13.9 billion) more than the previous year. Therefore, the expansion of the tourism industry is driving the growth of the cruise tourism market.
Market Trends –
Major companies operating in the cruise tourism market are developing advanced solutions, such as booking web portals, to enhance booking efficiency and provide real-time access to inventory and fare information. A booking web portal is an online platform that allows travel agents and customers to search, book, and manage cruise itineraries with real-time access to inventory and pricing. For instance, in February 2024, Resorts World Cruises, a Singapore-based company, launched the RW CruiseBuddy platform in India, designed to empower travel partners with direct access to real-time inventory and fare details. This cutting-edge tool is set to transform how travel partners book and manage cruise itineraries. The user-friendly web portal offers a convenient and seamless experience, simplifying booking management and providing up-to-date information.
The cruise tourism market covered in this report is segmented –
1) By Type: River Cruise, Ocean Cruise, Expedition Cruise, Theme Cruise, Adventure Cruise, Other Types
2) By Duration: 1 To 3 Days, 4 To 6 Days, 7 Days, 8 To 13 Days, 14 Days, 15 To 20 Days, More Than 21 Days
3) By Passenger Age: Less Than 12 Years, 13-19 Years, 20-29 Years, 40-49 Years, Above 60 Years
4) By Tourist: Independent Traveler, Tour Group, Package Traveler
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Regional Insights –
North America was the largest region in the cruise tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cruise tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Royal Caribbean International, Princess Crusies Ltd., Costa Cruises, AIDA Cruises, Viking Ocean Cruises, Cunard Line, Seabourn Cruise Line, Hurtigruten, Genting Hong Kong Ltd., Fred. Olsen Cruise Lines, Windstar Cruises, Azamara Club Cruises, Celestyal Cruises, Compagnie du Ponant, Crystal Cruises, Oceania Cruises, AmaWaterways LLC, P&O Cruises, Pullmantur Cruises, Ambassador Cruise Holidays Ltd., Kerala Shipping, Regent Seven Seas Cruises, Silversea Cruises
Table of Contents
1. Executive Summary
2. Cruise Tourism Market Characteristics
3. Cruise Tourism Market Trends And Strategies
4. Cruise Tourism Market – Macro Economic Scenario
5. Global Cruise Tourism Market Size and Growth
….
32. Global Cruise Tourism Market Competitive Benchmarking
33. Global Cruise Tourism Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cruise Tourism Market
35. Cruise Tourism Market Future Outlook and Potential Analysis
36. Appendix
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