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What Is the Forecast for the Coastal And Maritime Tourism Market Growth in 2025?

Significant growth has been witnessed in the coastal and maritime tourism market size in the past years. The market, which stands at $3010.38 billion in 2024, is projected to surge to $3246.55 billion in 2025, marking a compound annual growth rate (CAGR) of 7.8%. The historic period’s growth can be tied to factors such as government measures, the development of coastal structures, the increasing demand for cruise vacations, the rise in online sales for leisure travel, and the expansion of the cruise sector.

What Is the Forecast for the Coastal And Maritime Tourism Market Size Through 2029?

The market size for coastal and maritime tourism is projected to experience substantial expansion in the coming years, expecting to escalate to $4328.28 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.5%. This predicted surge within the forecast period can be linked to an increase in tourism industry investments, growth in holiday rental bookings, heightened demand for pleasure travel, an increase in disposable income, and a growing desire for vacationing and journeying. The forecast period is set to witness major trends such as technological advancements, allied with sustainability and responsible tourism, the emergence of luxury and immersive travel experiences, digital revolution, and the popularity of adventure and water sports tourism.

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What are the Key Market Players in Coastal And Maritime Tourism Market and How They’re Evolving?

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 Primary Growth Drivers in the Coastal And Maritime Tourism Market?

The expected surge in the coastal and maritime tourism market attributes to the growing preference for recreational travels. These trips, primarily taken for relaxation, enjoyment, and personal development, are not linked to professional or business commitments. A higher disposable income, increased focus on balancing work and life, and a burgeoning interest in seeking experiences and relaxation motivate the growing preference for leisure trips. The ripple effect of this change boosts coastal and maritime tourism by escalating the demand for local hospitality, culinary exploration, recreational activities, and experiencing the local culture, thus contributing to the economic upliftment of coastal regions. For instance, the UK witnessed 31.2 million visits by overseas residents in 2022, as per the Office for National Statistics, a UK-based government agency, marking a considerable uptick of 24.9 million visits from 2021. Consequently, the increasing demand for leisure trips fuels the growth of the coastal and maritime tourism market.

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What Are the Leading Segments in the Global Coastal And Maritime Tourism Industry?

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.

What Are the Key Market Trends in the Coastal And Maritime Tourism Industry?

The primary players in the coastal and maritime tourism industry are focusing on the creation of unique solutions, like cruise reservation platforms, to simplify the reservation process and advance the customer experience. These platforms make planning and booking cruise holidays to coastal regions more convenient, subsequently attracting more tourists and fortifying local economies. For example, in November 2023, US-based shipping line entity, Royal Caribbean, teamed up with IBS Software, a tech firm from Singapore, to introduce the iTravelCruise platform. This internet-based platform for cruise reservations is intended to streamline booking procedures, deliver customized travel experiences, and boost operational performance. Such technologies enrich the overall journey and enable businesses to fulfill the growing consumer demand for digital efficiency and connectivity.

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What Is the Regional Outlook for the Coastal And Maritime Tourism Market?

Europewas the largest region in the coastal and maritime tourism market in 2024. Asia-Pacificis 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.

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This Report Delivers Insight On:

1. How big is the coastal and maritime tourism market, and how is it changing globally?

2. Who are the major companies in the coastal and maritime tourism market, and how are they performing?

3. What are the key opportunities and risks in the coastal and maritime tourism market right now?

4. Which products or customer segments are growing the most in the coastal and maritime tourism market?

5. What factors are helping or slowing down the growth of the coastal and maritime tourism market?

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