Global Cruise Ships Tourism Market Size To Worth USD 22.6 Billion By 2033 | CAGR of 11.8%
The Global Cruise Ships Tourism Market Size was Valued at USD 7.4 Billion in 2023 and the Worldwide Cruise Ships Tourism Market Size is Expected to Reach USD 22.6 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Ambassador Cruise Holidays Ltd., Azamara, Compagnie du Ponant, Cosmos Tours Ltd., The Walt Disney Co., MSC Mediterranean Shipping Co. SA, Carnival Corp. and Plc, AmaWaterways, Virgin Cruises Intermediate Ltd., Riviera Travel, Genting Hong Kong Ltd., KSINC, LaVista Travel, Norwegian Cruise Line Holdings Ltd., Ocean World Ltd., Royal Caribbean Cruises Ltd., SAGA PLC, TUI AG and Others
New York, United States , Feb. 07, 2024 (GLOBE NEWSWIRE) -- The Global Cruise Ships Tourism Market Size is to Grow from USD 7.4 Billion in 2023 to USD 22.6 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.8% during the projected period.
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Cruise tourism is travel that center, either entirely or partially, around a cruise ship. Cruise travelers can also enjoy multi-center vacations by visiting several destinations during their voyage. Cruise ships come in a variety of sizes, from megaships to tiny yachts, and can be found in rivers or oceans. The Mediterranean, Caribbean, and Arctic are among the popular tourist destinations for cruise ships. Cruise tourism is defined as an all-inclusive trip on a cruise ship that lasts at least 48 hours and has a planned itinerary that stops at several ports or towns. It's an upscale form of travel. In terms of internal volume, cruise ships rank among the largest in the world; they are bigger than many cargo ships and can carry thousands of passengers on a single trip. Numerous facilities available to passengers during their cruise significantly improve their comfort and enjoyment of the experience. Spacious rooms, great dining selections, top-notch entertainment, spa services, and other features that are intended to provide customers a luxurious experience are commonly found aboard these luxury cruise ships. Many luxury cruise lines also offer access to private beaches or islands and exclusive shore excursions to enhance the whole experience. Accidents and mishaps such as ship accidents, fires, and other tragedies can cause property destruction, casualties, and death. The reputation of cruise operators may suffer as a result of these incidents, and passengers may decide not to book cruises. Terrorism is another concern for the safety and security of the cruise industry. Given that cruise ships are seen as high-value targets, an attack may have catastrophic consequences for the industry and obstruct the growth of the cruise tourism business.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on The "*Global Cruise Ships Tourism Market** Size, Share, and COVID-19 Impact Analysis, By Type (River Cruise, Ocean Cruise, Expedition Cruise, Theme Cruise, Adventure Cruise, and others), By Duration (1-3 days, 4-6 days, 7 days, 8 to 13 days, 14 days, 15-20 days, and More than 21 days), By Passenger Age (Less than 12 Years, 13-19 Years, 20-29 Years, 30-39 years, 40-49 years, 50-59 years, and Above 60 years), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.*"
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*The ocean cruise segment is expected to hold the largest share of the global cruise ships tourism market during the forecast period. *
The global Cruise Ships Tourism market is divided into segments based on type: river cruise, ocean cruise, expedition cruise, theme cruise, adventure cruise, and others. Among these, the ocean cruise segment is expected to hold a greatest share of the cruise ships tourism market during the forecast period. The ocean cruise market is affected by the expansion of new ports of call and destinations, the popularity of themed cruises (such as adventure, music, or gourmet vacations), and the introduction of new ships with state-of-the-art amenities. Cruise lines have been heavily investing in technology and onboard amenities like robot bartenders, virtual reality rides, and immersive entertainment systems in an effort to attract and retain consumers.
*The 7 days segment is expected to grow at the highest pace in the global cruise ships tourism market during the forecast period. *
The global cruise ships tourism market is classified into 1-3 days, 4-6 days, 7 days, 8 to 13 days, 14 days, 15-20 days, and more than 21 days. Among these, the 7 days segment is expected to grow at the highest pace in the cruise ships tourism market during the forecast period. As a result, there is a greater demand for cruise travel, particularly for seven-day trips. The popularity of cruising as a means of transportation has increased, particularly for journeys that last seven days or more. As more individuals look for all-inclusive vacations, cruises provide a convenient and cost-effective way to visit multiple sites without worrying about hotel, food, or transportation.
*The 40-49 years segment is expected to hold the largest share of the global Cruise Ships Tourism market during the forecast period*.
The global cruise ship tourism market is segmented into less than 12 years, 13-19 years, 20-29 years, 30-39 years, 40-49 years, 50-59 years, and over 60 years based on the age of the passengers. Among these, the 40–49 age group is anticipated to account for the greatest portion of the worldwide cruise ship tourism industry throughout the course of the projection timeframe. This age group usually has more stable finances since they can afford the most luxurious cruises with better amenities and services. They are also more likely to be willing to try new things, like eco-tourism or cultural excursions, and they could even be more willing to pay for them.
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*North America is anticipated to hold the largest share of the global cruise ships tourism market over the predicted timeframe.*
Over the anticipated years, North America is anticipated to hold the highest share of the worldwide cruise ship tourism market. This is due to the fact that cruising is a choice for vacations that is growing in popularity. Many people have been lured to cruise because of its convenience, comfort, and elegance, which has contributed to the industry's growth. In North America, baby boomers are more likely to cruise than younger generations. In addition, the increasing middle class in North America has increased the number of individuals who can afford to take cruises, which is driving up demand. North America offers a wide range of cruise ship destinations, including the Caribbean, Mexico, Alaska, and Canada.
Europe is anticipated to develop at the fastest rate in the worldwide cruise ships tourism market. This is due to the fact that Europe offers a wide range of cruise experiences, with popular cruise routes being the Baltic Sea, Northern Europe, and the Mediterranean. Riverboat cruises on the Rhine, Danube, and other rivers are also very popular.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cruise Ships Tourism Market include Ambassador Cruise Holidays Ltd., Azamara, Compagnie du Ponant, Cosmos Tours Ltd., The Walt Disney Co., MSC Mediterranean Shipping Co. SA, Carnival Corp. and Plc, AmaWaterways, Virgin Cruises Intermediate Ltd., Riviera Travel, Genting Hong Kong Ltd., KSINC, LaVista Travel, Norwegian Cruise Line Holdings Ltd., Ocean World Ltd., Royal Caribbean Cruises Ltd., SAGA PLC, TUI AG, Viking Cruises, and others.
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*Recent Developments*
· *In June 2022, *With the third-longest coastline in the world, spanning 7,500 km, the India-based company Cordelia Cruises announced that it will invest more than $1 billion by 2025 to acquire at least three cruise ships in order to concentrate on the Indian market. According to the government, the sector will grow ten times faster than it did ten years ago; this is in line with Cordelia Brand's positive assessment.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cruise Ships Tourism Market based on the below-mentioned segments:
*Global Cruise Ships Tourism Market, By Type*
· River Cruise
· Ocean Cruise
· Expedition Cruise
· Theme Cruise
· Adventure Cruise
· Others
*Global Cruise Ships Tourism Market, By Duration*
· 1-3 days
· 4-6 days
· 7 days
· 8 to 13 days
· 14 days
· 15-20 days
· More than 21 days
*Global Cruise Ships Tourism Market, By Passenger Age*
· Less than 12 Years
· 13-19 Years
· 20-29 Years
· 30-39 years
· 40-49 years
· 50-59 years
· Above 60 years
*Global Cruise Ships Tourism Market, Regional Analysis*
· North America
· US
· Canada
· Mexico
· Europe
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· South America
· Brazil
· Argentina
· Rest of South America
· Middle East & Africa
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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