Luxury Cruise Tourism Market – Global Industry Analysis and Forecast (2023-2029)

Luxury Cruise Tourism Market size valued at US$ 6.08 in 2022 and expected to reach nearly US$ 14.13 Bn  with the CAGR of 12.80% during the forecast period.

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Luxury Cruise Tourism Market Drivers:
For Luxury touring, a Luxury cruising is one of the best ways. Cruises are the high point of luxury tourism. A long-duration vacation on a cruise ship has also come in it. For newly married couples, luxury cruises are the best option for their honeymoon. Luxury cruise packages are very costly and mostly booked by elite-class citizens. More interesting destinations, larger cabins, flexible tours, and personal butler, etc. are offered by luxury cruises. Nearly 6 months to 12 months is the duration of the tour.
The fast-growing trend of small-ship cruises and small luxury ships for luxury tourism is boosting the luxury cruise tourism market substantially.

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The rise in acceptance of luxury cruise tourism in developing countries open new opportunities for the market.

Continuous growth in the popularity of luxury cruise tourism in developing countries creates many good opportunities for all luxury cruise service providers in the future globally. By offering special discounts, attractive offers, and new booking service options, many companies are expanding their business in developing countries as well as all over the world. These factors are also increasing their business in the luxury cruise tourism market.

Constant growth in advanced services, facilities, etc. in luxury cruise ships is rising the luxury cruise tourism market

Some extravagant facilities and super services given by luxury cruise ships to its customers fuel the growth of the luxury cruise tourism market in the future. Companies are providing services like spa treatments, skydiving, thrilling water coasters, and adventurous activities like onboard zip lining, etc. All these factors attract people to spend their valuable time on luxury cruise ships which is expected to rise the market in the coming years.

Top players in this market like Azamara, Royal Caribbean, Viking Ocean Cruises, and Oceania Cruises S. de R.L., etc. are focusing to launch new services for its customers like exciting water coasters, etc. Also, these companies are investing more in development. Companies have many ideas to expand their business such as to start cruises at a new location, etc.
Luxury Cruise Tourism Market Regional Insights:
Region-wise, the global luxury cruise tourism market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. In 2022, North America and Europe have a major share of the global market. A number of tourists use luxury cruise ships for traveling to popular destinations due to this, there is an incredible growth in North America and Europe's market. The market in the Asia Pacific and Middle East & Africa also shows a remarkable growth in the global market. Countries like Japan, China, Singapore, and Thailand are also showing rapid growth in the luxury cruise tourism.

The objective of the report is to present a comprehensive analysis of the Global Luxury Cruise Tourism Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Luxury Cruise Tourism Market dynamics, structure by analyzing the market segments and project the Global market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global market make the report investor’s guide.
Luxury Cruise Tourism Market Scope: Inquire before buying



Luxury Cruise Tourism Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 6.08 Bn.


Forecast Period 2023 to 2029 CAGR:
12.80%
Market Size in 2029:
US $ 14.13  Bn.


 Segments Covered:
by Cruising Type
Ocean Cruises
River Cruises
Expedition Cruise
Theme Cruise
Adventure Cruise
Others


by Services
Restaurants
Bars & Pubs
Water Sports
Adventurous Sports
Planetarium
Snow Rooms
Cruise Fares
4D Movie Theaters
In-suite Spa Treatment Centers
Others


by Duration
Less Than 1 Week
1 Week
2 Weeks
More Than 2 Weeks


by Age
Millennials
Generation X
Baby Boomers
Seniors
Others


by Booking Mode
Online
Offline


by Target audience
Families
Couples
Solo Travelers



Luxury Cruise Tourism Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Luxury Cruise Tourism Key Players
1. Royal Caribbean International
2. Azamara
3. Oceania Cruises S. de R.L.
4. Viking Ocean Cruises
5. Seabourn
6. Crystal Cruises
7. Regent Seven Seas Cruises
8. Silversea Cruises
9. Norwegian Cruise Line Holdings Ltd.
10. American Cruise Lines

Frequently Asked Questions:

1. Which region has the largest share in Global Luxury Cruise Tourism Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Luxury Cruise Tourism Market?
Ans: The Global market is growing at a CAGR of 12.80% during forecasting period 2023-2029.

3. What is scope of the Global Luxury Cruise Tourism market report?
Ans: Global market report helps with the PESTEL, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Luxury Cruise Tourism market?
Ans: The important key players in the Global market are – Royal Caribbean International, Azamara, Oceania Cruises S. de R.L., Viking Ocean Cruises, Seabourn, Crystal Cruises, Regent Seven Seas Cruises, Silversea Cruises, Norwegian Cruise Line Holdings Ltd., and American Cruise Lines.

5. What is the study period of this market?
Ans: The Global market is studied from 2022 to 2029.