Key Trends in Cruises (2024)

Key Trends in Cruises (2024)

Summary

Analysis of key market trends influenced by COVID-19, company case studies, sector deals, advertisement activity, challenges and opportunities

Key Highlights

According to GlobalData consumer survey Q3 2021, out of 22,499 respondents, 18% (4,013) said that they typically take cruise holidays. Due to travel restrictions and the implementation of lockdowns and safety measures by several nations worldwide, the COVID-19 pandemic has significantly damaged the cruise industry, which has decreased demand for cruise tourism.

According to GlobalData’s near-term impact of prominent themes poll, 4.2% of 377 respondents said that their business will be impacted by ESG for the next 12 months. According to GlobalData’s Q3 2021 Consumer Survey, 74% of global respondents reported that environmental issues are ‘extremely’ or quite’ important to them. Maintaining better ESG credentials can help corporations improve their overall financial performance by reducing energy bills, operating costs, and other expenses.

The majority of tourists now place a higher priority on sustainable practices while traveling. According to GlobalData’s Q2 2023 consumer survey, 24% of overall global respondents stated that they 'strongly agree’ that they are more loyal to brands that support green and environmental matters, whereas 38% of global respondents stated they 'somewhat agree’ that they are more loyal to brands that support green and environmental matters.

The Bahamas saw a marked increase in cruise visitors during the year 2023, with a tremendous number of visitors. According to GlobalData Traveler Demands and Flows, overall international arrivals into the Bahamas through sea during 2023 reached 0.25 million trips, which was an increase of 119.02% compared with 2022 (0.11 million trips).

Scope

This report provides analysis of key market trends, M&A deals, and company strategies in the cruise industry. Major cruise companies are assessed, along with an analysis of alternative cruise types to provide valuable insight. Challenges along with opportunities in the industry are explained in relation to industry examples.

Reasons to Buy

Gain an insight into the cruise industry's leading players.

Understand the key traveler types cruise companies can look to attract

Look at the key product developments and why they appeal

Gain a detailed understanding of the key trends, issues and chellenges facing cruise companies