The coastal and maritime tourism market has experienced significant growth in recent years, expanding from $2,804.71 billion in 2023 to $3,010.38 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%. This historical growth is driven by government initiatives, development of coastal infrastructure, increased demand for cruise travel, growth in leisure travel sales through online channels, and expansion within the cruise industry. Looking ahead, the market is anticipated to grow further, reaching $4,032.07 billion by 2028 at a CAGR of 7.6%. The expected growth is fueled by rising investment in the tourism industry, an increase in holiday rental reservations, higher demand for leisure trips, increased disposable income, and a growing desire for vacations and trips. Major trends anticipated in the forecast period include technological innovations, sustainability and responsible tourism practices, the rise of luxury and experiential travel, digital transformation, and advancements in adventure and water sports tourism.
Global Coastal And Maritime Tourism Market Key Driver
The rising popularity of leisure trips is expected to propel the growth of the coastal and maritime tourism market going forward. Leisure trips are travel experiences primarily undertaken for relaxation, enjoyment, and personal enrichment rather than for work or business purposes. The rising popularity of leisure trips is attributed to increasing disposable incomes, greater emphasis on work-life balance, and a growing desire for experiences and relaxation. Leisure trips boost coastal and maritime tourism by increasing demand for local accommodations, dining, recreational activities, and cultural experiences, driving economic growth in coastal regions. For instance, in May 2023, according to the Office for National Statistics, a UK-based government agency, in 2022, the UK saw 31.2 million overseas residents visits, marking an increase of 24.9 million visits from 2021. Therefore, the rising demand for leisure trips is driving the coastal and maritime tourism market.
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Global Coastal And Maritime Tourism Market Segments
The coastal and maritime tourism market covered in this report is segmented –
1) By Type: Passenger Ticket Services, Onboard And Other Services
2) By Travel Type: Solo Travel, Family Travel, Couples Travel, Group Tours
3) By Application: Cruise Tourism, Yacht And Sailing Tourism, Water Sports And Water Activities, Other Applications
By Geography:The regions covered in the coastal and maritime tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the coastal and maritime tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Coastal And Maritime Tourism Industry Players
The Walt Disney Company, TUI AG, MSC Cruises S.A., Carnival Corporation & plc, Royal Caribbean Group, Princess Cruise Lines Ltd., Wynn Resorts Limited, Costa Crociere S.p.A., Norwegian Cruise Line Holdings Ltd., Viking Cruises Ltd., Seabourn Cruise Line Limited, Abercrombie & Kent USA LLC, Lindblad Expeditions, Hurtigruten Group AS, Seven Seas Cruises Ltd., Compagnie du Ponant, Riviera Tours Ltd., Crystal Cruises Inc., Dream Yacht Group, American Cruise Lines Inc., Azamara Club Cruises, Celestyal Cruises Centre Limited, Silversea Cruise Holding Ltd., Magical Cruise Company Limited, Sienna Charles LLC
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Coastal And Maritime Tourism Market Overview
Coastal and maritime tourism refers to recreational activities and travel in coastal areas and on the ocean. This type of tourism encompasses many activities, including beach vacations, water sports, cruises, and visits to coastal towns and attractions. Coastal and maritime tourism is a significant segment of the global tourism industry, offering diverse experiences and contributing significantly to economic development in coastal regions.
Coastal And Maritime Tourism Global Market Report 2023 provides data on the global coastal and maritime tourism market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The coastal and maritime tourism market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
