How popular is cruise tourism?
How popular is cruise tourism? While the number of ocean cruise passengers worldwide fell dramatically with the onset of the COVID-19 pandemic, dropping below five million in 2021, the global volume of cruise travelers partially recovered in 2022, totaling just above 20 million.
How competitive is the cruise industry?
There are only a few large competitors in the North American cruise industry. One reason for so few competitors is the high barrier of entry and exit. The industry is global but holds only two percent of the market share in the vacation industry.
What is the trend of cruise industry?
Cruise Industry Present Day & Forecast With 31.5 million passengers expected to cruise in 2023, it's safe to say that the cruise industry is booming once again. Cruise is a resilient industry, and it continues to be one of the fastest-growing sectors of tourism.
Do Millennials like cruises?
Moreover, there's a surge of interest among millennials and gen X travelers who have never cruised before, with 73 percent considering a cruise vacation. Among millennials, the interest level stands at 77 percent, while for gen X, it's 73 percent.
Who dominates the cruise industry?
Although Royal Caribbean Cruises operates some of the largest cruise ships worldwide, the brand's main competitor Carnival Corporation remains the leading global cruise company based on revenue.
What is the trend for cruises 2023?
So what trends are emerging as we sail into 2023? More travellers are looking to escape on itineraries that provide cultural and destination immersion; solo cruising is on the up; and people want to spend more on bucket-list luxury cruises.
Does cruising have a future?
CLIA forecasts passenger numbers will not only meet but exceed pre-pandemic levels by the end of 2023. And according to Cruise Industry News' cruise ship orderbook for ocean-going vessels, nearly 40 new ships are lined up to debut this year alone, with more than 75 vessels on order through 2027.
Is cruising value for money?
A cruise may seem expensive with a large up-front cost but there are cruises to suit a variety of different budgets. Discover more below... Cruise voyages can provide excellent value for money with your food, accommodation, daytime entertainment and evening activities all provided as standard.
What is the outlook for the cruise market?
Revenue in the Cruises market is projected to reach US$25.14bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 9.29%, resulting in a projected market volume of US$35.87bn by 2027. In the Cruises market, the number of users is expected to amount to 32.53m users by 2027.