Market Insights Mobility Travel & Tourism

Cruises - Americas

Americas

The projected revenue for the Cruises market in the Americas is set to reach €15.44bn by 2024.
The market is expected to grow at an annual rate of 3.20% between 2024 and 2028, resulting in a projected market volume of €17.51bn by 2028.
The number of users in the Americas' Cruises market is expected to reach 16.21m users by 2028.
In 2024, the user penetration rate is expected to be 1.53%, which is expected to increase to 1.56% by 2028.
The average revenue per user (ARPU) is expected to be €0.99k.
By 2028, 22% of the total revenue in the Americas' Cruises market is projected to be generated through online sales.
The United States is expected to generate the most revenue in the Cruises market globally, with a projected revenue of €13,860m in 2024.
Cruises to Alaska are gaining popularity among American travelers seeking an adventure in the Last Frontier.

Key regions: Germany, Singapore, Indonesia, India, Vietnam

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Comparación de regiones

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Analyst Opinion

The Cruises market in Americas is experiencing a significant growth in recent years, attracting a diverse range of customers from different age groups and backgrounds.

Customer preferences: Customers in the Americas have shown a growing interest in cruises due to the convenience of visiting multiple destinations in one trip, the variety of onboard activities and entertainment options, as well as the all-inclusive nature of cruise packages. Families are opting for cruises as a hassle-free way to travel with children, while younger travelers are attracted to the social aspect of cruising and the opportunity to explore different cultures.

Trends in the market: In the United States, there is a trend towards shorter cruises to destinations such as the Caribbean and Mexico, catering to busy professionals looking for quick getaways. Alaska cruises are also gaining popularity among nature enthusiasts seeking unique wildlife experiences. Additionally, themed cruises focusing on wellness, food and wine, or music festivals are becoming increasingly popular, offering specialized experiences for niche markets.

Local special circumstances: Countries in South America, such as Brazil and Argentina, are experiencing a rise in domestic cruises along their picturesque coastlines, providing locals with a convenient way to explore their own countries. In the Caribbean, cruise lines are working closely with local governments to promote sustainable tourism practices and support the preservation of marine ecosystems, which is becoming a key consideration for environmentally-conscious travelers.

Underlying macroeconomic factors: The strong economy in the United States has increased disposable income levels, allowing more Americans to afford luxury vacations such as cruises. In addition, the depreciation of certain South American currencies has made cruises more affordable for international travelers, leading to a boost in tourism in the region. The overall stability of the Americas region has also instilled confidence in both consumers and cruise operators, driving further growth in the market.

Methodology

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.