Global Cruise Liner Market 2018-2022| Rising Demand for Adventure Tourism Boosts Growth| Technavio
LONDON--(BUSINESS WIRE)--Oct 2, 2018--’s global cruise liner market research report forecasts the market to grow at a CAGR of almost 7% during the forecast period.
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Technavio has published a new market research report on the global cruise liner market for the period 2018-2022 (Graphic: Business Wire)
The growing demand for adventure tourism will be one of the major trends in the during 2018-2022. The increasing demand for expedition cruises from the global adventure tourism market is anticipated to contribute to the high growth of the global cruise liner market. Under adventure tourism, the cruising companies provide luxurious stays, which include the serving of exotic food and various activities on cruises.
According to Technavio analysts, one of the key drivers for the global cruise liner market is the growing global tourism market:
Global cruise liner market: Growing global tourism market
The tourism industry has recorded substantial growth in the last few decades, especially in regions such as Europe, South East Asia, and North America. The global tourism market was valued at USD 8.33 trillion in 2016 and is anticipated to reach USD 10.95 trillion by 2021. The industry will grow at a CAGR of 5.62% during 2016-2021. The tourism industry accounts for an average of 10% of the world GDP.
According to a senior research analyst at Technavio, “The international tourist arrival across the globe was valued at 1.3 billion in 2017. This was a 7% annual growth when compared with 2016. The global tourism market is witnessing high growth owing to the growing tourism industry in APAC. In 2017, APAC contributed to around 30% share of the total international tourists received. This growth in the global tourism market is expected to drive the global cruise liner market during the forecast period.”
Global cruise liner market: Segmentation analysis
This global cruise liner market analysis report provides market segmentation by service type (passenger tickets and onboard and other types of services) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major service type segments, the passenger tickets segment held the largest cruise liner market share in 2017, accounting to almost 73% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 58% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TRAVEL CRUISE
SOURCE: Technavio Research
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PUB: 10/02/2018 01:15 PM/DISC: 10/02/2018 01:15 PM