The Cruise Tourism Market is being driven by Strong global economic recovery and increasing number of HNWIs
The Cruise Tourism Market is expected to grow at a CAGR of 12.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 29758.8 million. Repositioning cruises, which involve relocating ships between sailing destinations, have gained significant traction in the cruise tourism industry. This trend is driven by travelers' increasing preference for exploring diverse destinations through cost-effective cruise deals. Factors contributing to this growth include affordable one-way flights for passengers to return home, enticing itineraries, and the cost savings associated with repositioning cruises compared to standard sailings. For example, African ports, such as Mombasa and Cape Town, are attracting a larger share of the global cruise market due to their upgraded terminal facilities.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
193 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.8% |
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Market growth 2025-2029 |
USD 29758.8 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
11.3 |
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Key countries |
US, Germany, Canada, UK, China, Italy, France, Spain, Japan, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The cruise tourism industry, a significant segment of the travel industry, offers unique experiences through Ocean cruises. Passengers of various ages enjoy this form of enclave tourism, which provides transportation and accommodation in one package. Cruise liners offer a variety of themes, amenities, and pioneering services, including skydiving simulators and adventurous activities like water coasters. Itineraries include tropical getaways, cultural explorations, and themed cruises, delivering luxury experiences and onboard entertainment. The cruise business thrives with cruise lines offering diverse offerings, from traditional to themed, catering to passengers seeking unique travel experiences.
The Cruise Tourism Industry, a significant segment of the Travel Industry, falls outside the scope of Technavio's Global Specialized Consumer Services Market research. This market encompasses revenues generated by various consumer service providers, including residential, home security, legal, personal, renovation and interior design, consumer auction, wedding, and funeral services. Ocean cruises are not included as they are classified under the Cruise Industry, distinct from specialized consumer services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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