Author:
Tourism Economics
Language:
English

Prospects for the Global Cruise Industry

March 2023

The global cruise industry is recovering from the COVID-19 pandemic, but it faces a number of challenges, including heightened competition from other forms of tourism and the need to adapt to new environmental regulations.

The report finds that the cruise industry is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2027, reaching a value of $178.5 billion by 2027. However, the report also notes that the industry is facing a number of challenges, including:

  • Heightened competition from other forms of tourism, such as land-based vacations and short-haul flights.
  • The need to adapt to new environmental regulations, such as the International Maritime Organization's (IMO) sulfur cap, which will come into effect in 2023.
  • The need to address concerns about the environmental impact of cruising, such as the release of pollutants and the impact on marine life.

The report concludes that the cruise industry is likely to continue to grow in the coming years, but it will need to address the challenges it faces in order to maintain its growth.

Here are some additional details from the report:

  • The cruise industry is expected to grow at a CAGR of 3.3% from 2022 to 2027, reaching a value of $178.5 billion by 2027.
  • The cruise industry is facing a number of challenges, including heightened competition from other forms of tourism, the need to adapt to new environmental regulations, and concerns about the environmental impact of cruising.
  • The cruise industry is likely to continue to grow in the coming years, but it will need to address the challenges it faces in order to maintain its growth.

The report provides a number of recommendations for the cruise industry, including:

  • Investing in new technologies to reduce emissions and improve fuel efficiency.
  • Developing new itineraries and products that appeal to a wider range of consumers.
  • Working with governments and environmental organizations to address concerns about the environmental impact of cruising.
  1. The report concludes that the cruise industry has the potential to continue to grow in the coming years, but it will need to take steps to address the challenges it faces in order to maintain its growth.

Contents:

  1. Expectations for an industry accustomed to growth
  2. Deployment decisions will be crucial
  3. Most ports will experience additional volume
  4. Pricing trends

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Prospects for the Global Cruise Industry

March 2023

The global cruise industry is recovering from the COVID-19 pandemic, but it faces a number of challenges, including heightened competition from other forms of tourism and the need to adapt to new environmental regulations.

The report finds that the cruise industry is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2027, reaching a value of $178.5 billion by 2027. However, the report also notes that the industry is facing a number of challenges, including:

  • Heightened competition from other forms of tourism, such as land-based vacations and short-haul flights.
  • The need to adapt to new environmental regulations, such as the International Maritime Organization's (IMO) sulfur cap, which will come into effect in 2023.
  • The need to address concerns about the environmental impact of cruising, such as the release of pollutants and the impact on marine life.

The report concludes that the cruise industry is likely to continue to grow in the coming years, but it will need to address the challenges it faces in order to maintain its growth.

Here are some additional details from the report:

  • The cruise industry is expected to grow at a CAGR of 3.3% from 2022 to 2027, reaching a value of $178.5 billion by 2027.
  • The cruise industry is facing a number of challenges, including heightened competition from other forms of tourism, the need to adapt to new environmental regulations, and concerns about the environmental impact of cruising.
  • The cruise industry is likely to continue to grow in the coming years, but it will need to address the challenges it faces in order to maintain its growth.

The report provides a number of recommendations for the cruise industry, including:

  • Investing in new technologies to reduce emissions and improve fuel efficiency.
  • Developing new itineraries and products that appeal to a wider range of consumers.
  • Working with governments and environmental organizations to address concerns about the environmental impact of cruising.
  1. The report concludes that the cruise industry has the potential to continue to grow in the coming years, but it will need to take steps to address the challenges it faces in order to maintain its growth.

Contents:

  1. Expectations for an industry accustomed to growth
  2. Deployment decisions will be crucial
  3. Most ports will experience additional volume
  4. Pricing trends