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The European Cruises Market is estimated to reach US$ 1.5 Billion in 2022. As per the report, sales are forecast to increase at a robust 15% CAGR, with the market valuation reaching US$ 2.69 Billion by 2032.
Attribute | Details |
---|---|
European Cruising Market Estimated Size (2022) | US$ 1.5 Billion |
European Cruising Market Projected Size (2032) | US$ 2.69 Billion |
European Cruising Market Value-based CAGR (2022 to 2032) | 6% |
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The modern traveller has a number of options with European cruises. Offering a close-up look at the rich and varied terrain of Europe and a chance to savour its rich culture, history, and tradition. These experiences range from vivacious, colourful, and dynamic European metropolis to gloomy, tranquil, and laid-back villages and towns.
There are two different kinds of European cruises: river cruises via Europe's rivers that offer an enriching experience while sailing through its majestic waterways, or ocean liners and cruise ships that explore the continent's coastline. The major target markets in Europe are Germany and the United Kingdom. Cruise tourism can take many different sizes. Large ships are typically used on world and sea excursions, which may be out of your price range as a small or medium-sized business. The majority of huge cruise ships are also not at all environmentally friendly. Small and medium-sized tourist businesses are becoming more interested in small sea and river cruises that support local communities as the need for sustainable tourism rise.
Now that the cruising market is getting back to normal people are eager to take cruises to enhance their tour experiences. Moreover, the players in the cruising sector are coming up with innovative schemes and novel routes to gain the attention of travelers.
P&O Cruises, one of the top players in the European Cruising Market are set to launch its new cruise in 2024. Arvia will join the fleet in December 2022 and will start cruising in April 2024. It will offer two 14 days trips that will cover the Western Mediterranean itineraries. One trip will sail through France, Spain, and Italy covering La Spezia and Barcelona while the second one will be sailing in the regions France and Spain including Valencia and Barcelona in its route.
Leaders from the cruise industry met in Genoa for the first-ever European summit on decarbonizing the cruise industry. They urged governments to support this initiative by establishing the proper regulative structure and making the necessary capital investments to match the industry's commitment to accelerating the production and output of the reliable maritime fuels and technologies required to achieve a negligible carbon footprint by cruising till 2050.
Senior leaders highlighted the industry's ambition to innovate during the opening session of the Cruise Lines International Association (CLIA) European Summit, which took place in Genoa. Cruise lines are making major investments in research initiatives and cutting-edge technologies with the goal of enhancing their environmental efficiency. However, the industry will also need access to enough infrastructure and a supply of sustainable fuels to meet its goals. New boats are only one component of the puzzle.
Germany is the largest market for cruise tourism
The largest cruise market in Europe is offered by Germany, but it is expanding very slowly. The lengths of cruise vacations have also increased to some extent. The Eastern Mediterranean, Africa and the Middle East, the European, Bahamas, and Bermuda are the top three cruise destinations for German travellers.
The United Kingdom and Ireland are second largest markets for cruise tourism
The second-largest portion of the European cruise market, including of the United Kingdom and Ireland. Cruise travellers from the United Kingdom and Ireland are the oldest, they take the longest cruise vacations when compared to the other top-five markets in Europe. This market has marginally grown over the last two years, as has the length of the holidays. The most popular cruise destinations for British and Irish passengers are European, the Bahamas, Bermuda, and Eastern Mediterranean. Since 2016, there has been a minor rise in interest in European, the Bahamas, Bermuda, Asia, China, the Panama Canal, and South America.
Italy is an emerging market for cruise tourism
There is little doubt about the Italians' interest in cruise vacations to the European, Bahamas, and Bermuda has grown over the past several years. The number of cruises to the Middle East and Africa is somewhat down, with the age group 20 to 40 years being the key indicator. Italian cruisers are interested in short-span cruises as the majority of the travellers belong to the working sector. The demand for long-duration cruises has decreased in recent times.
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Online Booking is More Preferred by Tourists
Nowadays, more people are choosing to cruise instead of going through the difficult, pricey, and stressful procedure of purchasing an airline ticket in person. Online booking has increased this convenience over the past ten years. Traveller can make their reservations and payments online quickly and easily. The building of cruise traveller safety has been improved by connectivity via mobile devices, which has also sped up access to tracking data. Nowadays, travellers compare information on destinations, lodging options, restaurants, and other topics on internet travel research websites.
The popularity of Cruising Tourism among Seniors Will Remain High
The average European tourist age is about 46 years. The most common age group is 66-75 years followed by 56-65 years. Cruises are convenient for aged travellers as they are accessibility-friendly and offer seniors to enjoy the tourist places without having to rely on external help for their tour, that have mobility issues the opportunity.
Travellers are cruising alone because of the convenience and safety provided by the cruises
Cruise passengers are increasingly choosing to go alone. Since cruises are a convenient and safe method to go to distant locations, cruise operators are concentrating more on solo travellers. Cruise lines have begun to offer single staterooms at single-friendly costs as a new trend. There is a greater focus on providing events and on- and off-shore programmes for solitary travellers so they may network with other solo travellers. Several nations in Latin America are among the most well-liked for lone travellers. Travellers who are on their own often have a strong sense of independence, confidence, adventure, spontaneity, and socialisation.
The top players in the European cruising market are constantly focusing on implementing new strategies to attract more travelers towards cruising. They are offering various deals and packaged offers with exciting discounts to gain the attention of tourists. While the cruising companies are working with the government to enhance the cruising sector in Europe and are finding new ways to make cruising more sustainable and achieve the goal of sustainable tourism by 2030.
For instance:
Celebrity Cruises are offering new packaged deals which include extra adventure activities while cruising. This has helped to gain the attention of travelers towards cruising as these packages include activities like surfing in combination with world-class cuisine.
Attribute | Details |
---|---|
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | US$ Billion for Value |
Key Region Covered | Europe |
Key Countries Covered | France, United Kingdom, Italy, Spain, Ireland, and Germany. |
Key Segments Covered | Cruise types, Booking Channels, Tourist Types, Tour Types, Age Groups, and Region. |
Key Companies Profiled |
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Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The European Cruise market is expected to reach a valuation of US$ 1.5 Billion in 2022.
Government initiatives post Covid-19, cruising packages, and growing efforts towards sustainable cruising are increasing the number of travelers by cruise.
Leading players in the European cruise market are Royal European, MSC Cruises Company, Silversea Cruises, Holland America Line, Star Clippers, Carnival Cruise Line, Princess Cruises, and Celebrity Cruises among others.
1. Executive Summary | European Cruises Market 1.1. Market Outlook 1.1.1. Who Is Travelling? 1.1.2. How Much Do They Spend? 1.1.3. Direct Contribution of Tourism To GDP 1.1.4. Direct Contribution of Tourism To Employment 1.2. Tourism Evolution Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1.1. Total Spending (US$ Billion) and Forecast (2022 to 2032) 2.1.2. Number of Cruising Tourists and Forecast (2022 to 2032) 2.1.3. Total Spending Y-o-Y Growth Projections (2022 to 2032) 3. Tourism Market Overview 3.1. Popular Activities on cruises 3.1.1. Land-Based Activities 3.1.2. Catamaran Cruises 3.1.3. Coffee Cruises 3.1.4. Day Cruises 3.1.5. Dinner Cruises 3.1.6. Lunch Cruises 3.1.7. Multi-day Cruises 3.1.8. Night Cruises 3.1.9. Sightseeing Cruises 3.1.10. Sunset Cruises 3.2. Popular Tourism Destinations 3.3. Developments and Key Trends 3.3.1. Government and Cruise providers taking combined efforts for the development of sustainable fuel 3.4. Challenges in Market 3.4.1. Climate Change & Natural Disasters Brings A New Threat To Cruising Routes 3.4.2. Impact of Covid-19 4. Categorizing of Market 2021 4.1. Introduction/ Key Findings 4.2. Current Market Analysis By Cruise Type (% of Demand) 4.2.1. Ocean Cruises 4.2.2. River Cruises 4.2.3. Expedition Cruises 4.2.4. Theme Cruises 4.2.5. Others 4.3. Current Market Analysis By Tourist Type (% of Demand) 4.3.1. Domestic 4.3.2. International 4.4. Current Market Analysis By Tour Type (% of Demand) 4.4.1. Independent Traveller 4.4.2. Tour Group 4.4.3. Package Traveller 4.5. Current Market Analysis By Age Group (% of Demand) 4.5.1. 15-25 Years 4.5.2. 26-35 Years 4.5.3. 36-45 Years 4.5.4. 46-55 Years 4.5.5. 56-65 Years 4.5.6. 66-75 Years 4.6. Current Market Analysis By Booking Channel (% of Demand) 4.6.1. Phone Booking 4.6.2. Online Booking 4.6.3. In-Person Booking 4.7. Key Findings, By Each Category 5. Competition Analysis 5.1. Competition Dashboard 5.2. Competition Benchmarking 5.3. Competition In the Cruising market 5.3.1. Princess Cruises 5.3.2. MSC Cruises Company 5.3.3. Silversea Cruises 5.3.4. Holland America Line 5.3.5. Star Clippers 5.3.6. Celebrity Cruises 5.3.7. Carnival Cruise Line 5.3.8. Myths and Mountains 5.3.9. Merapi 5.3.10. Adventure Smith Explorations 5.3.11. BlueFoot 5.3.12. Explore Europe 5.3.13. British Isles Cruise 5.3.14. Virgin Voyages 5.3.15. Other Players (As Per Request) 6. Social Media Sentimental Analysis 6.1. Social Media Platforms Preferred 6.1.1. Facebook 6.1.2. YouTube 6.1.3. Instagram 6.1.4. Twitter 6.1.5. LinkedIn 6.1.6. Pinterest 6.1.7. Google+ 6.1.8. Others 6.2. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions 6.3. Trending #Hashtags 6.4. Social Media Platform Mentions (% of Total Mentions) 6.5. Region-Wise Social Media Mentions (% of Total Mentions) 6.6. Trending Subject Titles 7. Assumptions and Acronyms Used 8. Research Methodology
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