Cruises - Worldwide | Statista Market Forecast (2024)

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of cruises.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Cruises - Worldwide | Statista Market Forecast (2024)

FAQs

What is the cruise industry market forecast? ›

The cruise industry is a major player in the global tourism industry, and it continues to grow year after year. The global cruise market was valued at $7.25 billion in 2021 and is expected to grow 11% from 2022 to 2028.

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What are the biggest issue facing the cruise industry today? ›

Economic downturn: An economic downturn can lead to a decrease in demand for cruise vacations. Geopolitical instability: Geopolitical instability can lead to travel disruptions and cancellations. Environmental concerns: Cruise lines have been criticized for their environmental impact.

What does the future of cruising look like? ›

Cruise Lines International Association (CLIA) reports that their cruise line member fleet will include 231 ships with advanced wastewater treatment systems and 176 with exhaust gas cleaning systems by 2027. They also expect to have 26 liquified natural power cruise ships, one of the cleanest non-electric marine fuels.

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How is the cruise industry doing? ›

The global cruise market is estimated to reach 37 billion U.S. dollars by 2028. Currently, the United States is the leading country by far in terms of revenue created by cruises. In 2025, it is estimated that the United States will generate a little under 16 billion dollars of revenue from the cruise industry.

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What are the 3 types of cruise markets? ›

Cruise lines are differentiated according to the market niche that they fill. The cruise industry is divided into three parts: the luxury, premium, and contemporary segments. The luxury segment caters to the wealthy and is priced at more than $500 a day for each day of the cruise.

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How powerful cruise industry is? ›

The cruise industry is the fastest growing sector of the travel industry, with demand estimated to grow at 7.0% per annum over the past decade, and cruise passenger surpassing the threshold of 30 mln. in 2019 (CLIA, 2020; Wondirad, 2019).

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Who are the biggest players in the cruise industry? ›

Carnival Corporation & plc, Royal Caribbean Cruises Ltd, MSC Cruises SA, Norwegian Cruise Line Holdings Ltd, and TUI AG, Genting Bhd are the top 5 cruise companies in the world in 2021 by the number of passengers carried.

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Does cruise have a future? ›

What is the future of cruise tourism? Following the COVID-19 caused shutdown in early 2020, the cruise industry began a return in early 2022 and over-optimistically expects to be back to normal in 2023.

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Is the cruise industry recovering? ›

The sector is now recovering. International tourism receipts — the expenditures by international inbound visitors — reached $1 trillion in 2022, and grew 50% in real terms compared with 2021, driven by the rebound in global travel.

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