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What Is the Forecast for the Cruise Tourism Market Growth in 2025?

The cruise tourism industry has seen robust expansion in the last few years. The predicted growth suggests an upswing from $6.96 billion in 2024 to reach an estimated value of $7.62 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.5%. The notable development in the past timeframe is due to factors such as rising disposable income, swelling global population, growing appeal of cruise destinations, increase in travelers, and enhanced popularity of online reservations and promotions.

What Is the Forecast for the Cruise Tourism Market Size Through 2029?

The market size of cruise tourism is anticipated to register robust growth in the subsequent years, expanding to $10.85 billion by 2029, with a CAGR of 9.2%. This projected growth over the forecast period can be credited to the escalating demand for opulent travel, heightened focus on sustainability and eco-friendliness, growing fondness towards themed cruises, a surge in millennial and GenZ demographic travelers, and ubiquitous social media influence. Looking ahead, the paramount trends over the forecast period comprise eco-friendly and sustainable methodologies, the evolution of luxury and niche markets, advancements in technology, improved health and safety measures, and the revelation of new destinations.

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What are the Key Market Players in Cruise Tourism Market and How They’re Evolving?

Major companies operating in the cruise tourism market are Royal Caribbean International, Princess Crusies Ltd., Costa Cruises, AIDA Cruises, Viking Ocean Cruises, Cunard Line, Seabourn Cruise Line, Hurtigruten, Genting Hong Kong Ltd., Fred. Olsen Cruise Lines, Windstar Cruises, Azamara Club Cruises, Celestyal Cruises, Compagnie du Ponant, Crystal Cruises, Oceania Cruises, AmaWaterways LLC, P&O Cruises, Pullmantur Cruises, Ambassador Cruise Holidays Ltd., Kerala Shipping, Regent Seven Seas Cruises, Silversea Cruises

What Are the Primary Growth Drivers in the Cruise Tourism Market?

The surge in the tourism sector is predicted to spur the development of the cruise tourism market. The tourism sector covers travel, lodging, and leisure services offered to individuals for pleasure, business, or other reasons. An upswing in the tourism sector usually signals heightened travel demand, economic progression, and heightened consumer certainty. Cruise tourism notably magnifies global tourism by providing distinctive travel experiences and contributing to economic advancement via port-related activities and expenditures. For example, the Office for National Statistics, a national statistical institution based in the UK, reported a surge in overseas visitors in May 2024, witnessing 38.0 million trips compared to 31.2 million in 2023 and 2022 respectively. These visitors contributed $39.99 billion (£31.1 billion), a surge of $5.91 billion (£4.6 billion) from the previous year. In contrast, UK residents embarked on 86.2 million overseas trips, an increase from 71.0 million in 2022, spending $93.07 billion (£72.4 billion), which is $17.87 billion (£13.9 billion) more than the preceding year. As a result, the burgeoning tourism sector is fueling the growth of the cruise tourism market.

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What Are the Leading Segments in the Global Cruise Tourism Industry?

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

Subsegments:

1) By River Cruise: Luxury River Cruises, Boutique River Cruises, Small Ship River Cruises, Family-Oriented River Cruises, Themed River Cruises (Wine, Culinary)

2) By Ocean Cruise: Luxury Ocean Cruises, Premium Ocean Cruises, Contemporary Ocean Cruises, Themed Ocean Cruises (Music, Wellness), Expedition Ocean Cruises

3) By Expedition Cruise: Arctic And Antarctic Expeditions, Polar Cruises, Wildlife And Eco-Tourism Expeditions, Remote And Uncharted Area Cruises, Scientific And Educational Expeditions

4) By Theme Cruise: Music Cruises, Culinary Cruises, Wellness And Spa Cruises, Sports And Adventure Cruises, Cultural And Art Cruises

5) By Adventure Cruise: Adventure And Exploration Cruises, Trekking And Hiking Cruises, Diving And Snorkeling Cruises, Sailing And Yachting Expeditions, Active Lifestyle Cruises

6) By Other Types: Family Cruises, Luxury Yacht Cruises, Educational And Learning Cruises, River And Ocean Hybrid Cruises, Cruise And Resort Packages

What Are the Key Market Trends in the Cruise Tourism Industry?

Leading organizations in the cruise tourism market are introducing innovative technology like booking web portals for increased efficiency and instant availability of inventory and fare details. Booking web portals serve as online platforms enabling travel agents and clients to search for, book, and oversee cruise itineraries, complete with real-time inventory and pricing information. For example, Resorts World Cruises, a company based in Singapore, unveiled its RW CruiseBuddy platform in India in February 2024. This platform gives travel partners direct access to real-time inventory and fare data. This state-of-the-art instrument is primed to alter the way travel partners coordinate and manage cruise itineraries. The easy-to-use web portal offers a smooth, hassle-free experience, making booking administration simpler and ensuring access to the latest information.

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What Is the Regional Outlook for the Cruise Tourism Market?

North Americawas the largest region in the cruise tourism market in 2023. Asia-Pacificis 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.

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This Report Delivers Insight On:

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

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

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

4. Which products or customer segments are growing the most in the cruise tourism market?

5. What factors are helping or slowing down the growth of the cruise tourism market?

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