Global cruise tourism market is predicted to earn a huge revenue during the forecast period. Ocean cruise ship segment will become the most lucrative. Small size cruises will be the most profitable. North America will generate the highest revenue. Leading players of the market are focusing on developing new strategies such as merger and acquisition, product launches, partnership, and collaboration to sustain the growth of the industry.
According to a recent report published by Research Dive, the global cruise tourism market is expected to garner a significant revenue during the forecast period. The comprehensive report delivers a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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The increasing disposal income in the urban population and the interest in luxury travel are the major factors driving the growth of the market. The new and advanced tech-equipped cruises offer relaxation and pleasant travel which have increased the popularity of cruise travel.
The major restraint behind the growth of the cruise tourism market is the large amount of waste generated by the cruise ship which affects the marine environment.
Ocean cruise segment will become the most lucrative
Ocean cruise ship segment is expected to generate the highest profit in the upcoming years. The large ships have the capacity of carrying a maximum of 4000 people. The facilities offered by the cruise give its passengers an exotic experience. Ocean cruise also provides the passengers with ultra-luxury cruise lines with multiple travel destinations and secure ship environment. These factors are fueling the growth of the segment.
Small size cruises will have the highest market share
Small size cruises segment will generate the highest revenue during the forecast period. The main reason behind this growth is that the small size cruises offer the travelers with comfortable beds, lounges, television and many more amenities at an affordable price.
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North America will continue to dominate the market
The high amount of disposal income is expected to be the growth driver of North American cruise industry. In addition, the presence of global players in the North America region such as Royal Caribbean Cruises Limited, Carnival Corporation will be another reason influencing the growth of the regional market.
Key Players and Business Strategies
According to the report, the leading players of the global cruise tourism market include Royal Caribbean Cruises Limited, Silversea Cruises, Norwegian Cruise Line Holdings Limited, Oceania Cruises, MSC Cruises, Ponant, Star Cruises, Seabourn Cruise Line, Carnival Corporation & Plc., and Chandris Group among others. The report also recapitulates many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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