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Global Cruise Market Report: 2011 Edition
Koncept Analytics, April 2011, Pages: 55
Cruise voyages, primarily undertaken for recreation and leisure, form an important part of the leisure industry. Cruise industry is mainly characterized by its exceptional value proposition, low market penetration levels, wide appeal, high guest satisfaction rates and favorable supply-demand imbalance. In the past years, all the volume indicators of the cruise industry, including the cruise capacity, passengers carried, number of ships or cruises, and Available Lower Berths managed to witness a positive growth, despite the global economic crisis. Cruise industry revenue, on its part had shown a decline in the recessionary conditions due to declined onboard spending by the cruise vacationers. The cruise industry has also been a huge contributor to the economic benefits to the associated regions.
In order to attract the vacationers for cruising, the cruise lines are increasing the onboard facilities, some of them include full-scale seagoing aquaparks, luxury spas with exclusive spa suites, increasing choice and flexibility in dining, and facilities, including pools and recreation areas dedicated to adults, teens or children, Wi-Fi capabilities to help passengers stay connected while on cruise.
North America is the largest cruise market worldwide and alone holds more than half of the cruise market. As the North American cruise industry tends towards maturity, the second largest cruise market Europe is likely to offer potential for growth.
The low penetration of the cruise industry worldwide offers immense opportunity for growth in future. With the rising consumer income and increasing employment, the cruise industry is expected to grow in the coming years. Also the cruise industry would grow further as the immense potential in the emerging markets, including Asia Pacific and Australia gets exploited.
The present report offers an analysis of the global cruise market. The details of the North American cruise industry, with special emphasis on the underlying trends have been presented in the report. The present report also analyzes the European cruise market as a whole and the regional cruise markets for some of the European countries, including, UK, Germany, Italy and France. Australia and Asia, which represent the emerging markets for cruising in future, are also been described in the report.
The report presents the competitive conditions in the cruise market as well as the share and positioning of the leading companies in the global, North American, and European market. The three major players including Carnival Corporation, Royal Caribbean and Norwegian Cruise Lines (NCL) have also been profiled.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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