What Is The Current and Historic Market Size Analysis Of The Coastal And Maritime Tourism Market?
The coastal and maritime tourism market has seen considerable growth due to a variety of factors.
• The coastal and maritime tourism market has experienced significant growth in recent years. It is forecasted to rise from $3010.38 billion in 2024 to $3246.55 billion in 2025, reflecting a CAGR of 7.8%.
Key factors driving this growth include government initiatives, coastal infrastructure development, increased demand for cruise travel, the rise of leisure travel sales through online channels, and the growth of the cruise industry.
What Are The Predictions for The Coastal And Maritime Tourism Market in the Coming Years?
The coastal and maritime tourism market is expected to maintain its strong growth trajectory in upcoming years.
• The coastal and maritime tourism market is expected to grow strongly, reaching $4328.28 billion by 2029, at a CAGR of 7.5%.
Growth is driven by tourism investments, holiday rental demand, leisure trip demand, higher disposable incomes, and vacation demand. Trends include technological innovation, sustainability, luxury travel, digital transformation, and adventure/water sports tourism.
Which Drivers Are Accelerating Growth In The Coastal And Maritime Tourism Market?
The growing popularity of leisure trips is expected to drive growth in the coastal and maritime tourism market. Leisure trips are undertaken primarily for relaxation and enjoyment, with rising disposable incomes and a desire for work-life balance fueling this trend. These trips promote coastal and maritime tourism by increasing demand for accommodations, dining, and recreational activities, boosting local economies. According to the Office for National Statistics, the UK saw 31.2 million overseas visits in 2022, an increase of 24.9 million visits from 2021. Hence, the growing popularity of leisure trips is supporting the coastal and maritime tourism market.
What Are The Core Segments Of The Global Coastal And Maritime Tourism Market?
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
Subsegments:
1) By Passenger Ticket Services: Cruise Tickets, Ferry Tickets, Private Yacht And Boat Rentals, Excursion And Day Trip Tickets, Onboard Services.
2) By Accommodation: Cabins, Suites Food And Beverage Services, Entertainment And Activities, Spa And Wellness Services, Retail And Shopping, Other Services.
3) By Shore Excursions And Guided Tours: Port Services, Concierge Services, Travel Insurance, Event And Conference Services.
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What Emerging Trends Are Influencing The Growth Of The Coastal And Maritime Tourism Market?
Companies in the coastal and maritime tourism market are creating platforms like cruise reservation systems to improve the booking process and customer experience. In November 2023, Royal Caribbean, a US-based cruise line, teamed up with IBS Software to launch iTravelCruise, a web platform that simplifies booking, personalizes travel experiences, and enhances operational efficiency for the cruise industry.
Who Are the Key Players In The Coastal And Maritime Tourism Market?
Major companies operating in the coastal and maritime tourism market are:
• 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
What Are The Regional Insights Into The Coastal And Maritime Tourism Market?
Europe was the largest region in the coastal and maritime tourism market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coastal and maritime tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
