What Is The Overview Of The Global Cruise Tourism Market?
Cruise tourism involves traveling on a cruise ship to various destinations, often including onboard amenities and entertainment. It combines transportation with leisure, offering passengers a floating resort experience. This form of tourism offers a seamless vacation experience with the added benefit of visiting multiple locations in a single trip, often including both on-board amenities and shore excursions. Cruise tourism is popular for its luxury, convenience, and the opportunity to explore diverse destinations in a single journey.
Cruise Tourism Global Market Report 2024 provides data on the global cruise tourism market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cruise tourism market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Cruise Tourism ?
The cruise tourism industry has grown consistently, expanding from $6.38 billion in 2023 to $6.96 billion in 2024, at a CAGR of 9.2%. This growth has been fueled by increasing disposable income, a growing global population, the popularity of cruise destinations, and advancements in online booking. Projections show the market reaching $9.94 billion by 2028, growing at a CAGR of 9.3%, driven by demand for luxury travel, eco-friendly practices, themed cruises, and the rise of millennial and Gen Z travelers. Emerging trends include sustainability initiatives, luxury niche markets, technological innovations, and the exploration of new destinations.
What Are The Leading Drivers Of Growth In The Cruise Tourism Market?
The expansion of the tourism industry is expected to support the growth of the cruise tourism market. As the tourism industry grows with increased travel demand and economic growth, cruise tourism contributes significantly to global tourism. For example, in 2023, the UK saw a rise in overseas visitors, contributing to a record spend of nearly $40 billion, reflecting the increasing influence of cruise tourism on the broader tourism sector.
Get Your Free Sample Of The Global Cruise Tourism Market Report
How Are The Segments Defined Within The Global Cruise Tourism Market?
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
How Are New Trends Expected To Influence The Growth Of The Cruise Tourism Market?
The cruise tourism market is improving booking systems, such as Resorts World Cruises' RW CruiseBuddy platform, launched in India in February 2024. This user-friendly web portal provides travel agents and customers with real-time access to inventory and fare information, simplifying the booking process and enhancing operational efficiency.
Which Region Drives The Highest Growth In The Cruise Tourism Market?
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.
