Global Cruise Tourism Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 7.12% during the forecast period that is 2017-2025. Cruise tourism is a leisure form of traveling, that involves an all-inclusive holiday on a cruise ship. Cruise tourism is becoming a rapidly growing segment in the tourism industry, due to the rising interest of people in cruising, as well as the increased focus of government and market players to develop cruise tourism.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global cruise tourism market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global cruise tourism market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Market Dynamics

Global cruise tourism market is anticipated to witness exponential growth during the forecast period, owing to expansion in a number of cruise lines across the world, coupled with growing interest of tourists in cruise vacation and rising disposable income of consumers (GDP of U.S. grew to 18.62 trillion in 2016 from 12.27 trillion, in 2004. According to Cruise Lines International Associations (CLIA), a cruise-line association organization, the number of cruise passengers is expected to reach 27.2 million in 2018 from 24.7 million, in 2016. Furthermore, global economic development and increase job opportunities by cruise industry are also some of the major driving factors for the growth of cruise tourism market. According to CLIA, in 2016, Europe had the largest economic output contribution (US$ 50.2 billion) from the cruise industry, accounted for around 40% of the total global output contribution. Employment for 381,426 Full-Time Equivalent (FTE) workers was created, due to this high output contribution. However, the higher investment required in the cruise industry, coupled with higher cruising prices can restrain the growth of cruise tourism market. For instance, a seven days southern Caribbean cruise has fares starting from US$ 489.0 per person, excluding additional tax.

By Cruise Type: Ocean cruises are expected to dominate the global cruise tourism market due to their higher demand in the cruise industry, coupled with the availability of ocean ships in various sizes, and increasing number of ocean cruise in the market. For instance, in 2018, 13 new ocean-going cruises are expected to hit the market with 31,000 berths to accommodate passengers. The luxury cruise and ultra-luxury cruise segment are expected to grow during the forecast period, due to the rise in their demand coupled with an increase in a number of ultra-luxury cruise lines like Crystal Cruises, Silversea and Seabourn, who offer ultra-luxurious cruising holiday.

By Market Size: On the basis of size, small and mid-sized cruises are expected to grow enormously over the forecast period, due to rise in a number of small and mid-sized cruise lines, coupled with escalated demand for adventurous cruising at destinations like Antarctica and South Pacific oceans. Quasar Expeditions, Australis, Ponanat, and Windstar Cruises are some of the famous small-ship cruise lines that are actively operating in adventurous cruising, private cruising, and multi-generational cruising.

Regional Insight

The global cruise tourism market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America cruise tourism market is expected to hold the major share in the global market, owing to the higher number of American passengers opting for cruise tourism. According to CLIA, 50% (12.49 million) of cruise passengers in 2016 belonged to North America. Presence of key market players like Carnival Corporation and Royal Caribbean Cruises Limited in this region is also one of the key reasons contributing to the dominance in the global cruise tourism market.

Global Cruise Tourism Market Size, Share Analysis By Region 2017

Europe and Asia Pacific regional markets are expected to grow continuously during the forecast period owing to the increasing per capita income of consumers in developing countries like China, coupled with governmental initiatives in the regions to improve cruise tourism. According to the World Bank, China’s GDP per capita reached US$ 8,826 in 2017 from US$ 4,560 in 2010.

Key Players Landscape

Key market players operating in cruise tourism market include Royal Caribbean Cruises Limited, Carnival Corporation & Plc., MSC Cruises, Norwegian Cruise Line Holdings Limited, Chandris Group, Star Cruises, Ponant, Oceania Cruises, Seabourn Cruise Line, and Silversea Cruises. The increasing interest of tourist in ultra-luxury ships is encouraging market players to collaborate with other market players in order to fulfill the demand. For instance, in June 2018, Royal Caribbean Cruises Limited acquired a 67% stake in Silversea Cruises, a privately-owned mid-market cruise line headquartered in Monaco. The acquisition aims at providing unmatchable ultra-luxury and expedition cruising experience to tourists, coupled with taking guests to more than 1,000 destinations across the globe.

Global Cruise Tourism Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.