40 million cruise passengers by 2030
Ten years ago, there were 17 million people who chose cruising as their travel option. A decade later, there are already 30 million passengers who are enjoying this kind of product.
The data that supports the increasing trend of the cruise market speaks for itself: if in 10 years the cruise industry has increased its passengers by 40% and has multiplied its offers of berths, what is going to happen in the next decade?
Over the next 10 years, 40 million of cruisers are expected, the construction of a hundred ships is expected to add almost a total of 500 cruise ships sailing our seas, oceans and rivers. With the construction of larger ships, with greater capacity, but also being more sustainable and energy efficient, the supply of berths will exceed a million over the next 10 years.
The cruise industry still has a significant growth potential. To date, this industry represents only 2% of the 1.4 billion tourists who travel around the world each year and also, in 2018, it generated 134 billion dollars worldwide.
What are the main markets of the sector?
For decades, North America, with the USA and Canada at the forefront, remains on the throne as the main selling markets for cruisers with a 40% of the global share. In addition, it is expected to maintain the reign in the coming decades and reach over 21 million passengers by 2027.
The European market has grown by 5.5% in the recent years, reaching 7.1 million passengers, with Germany being the largest market in Europe with a 31% share, followed by the United Kingdom with 27%, Italy with 12% and Spain in fourth position with 7%. The European regions that grew most in 2018 were Portugal and Russia with 24% and 14% respectively.
Finally, and with a 20% share of the market, the Asia-Pacific region is growing at an enourmous pace: an annual average of 33%, with 775,000 passengers in 2012 and more than 5 million in 2019. Undoubtedly, this market has become one of the great promises of the industry.
How can travel agencies absorb this potential?
There is no doubt that travel agencies are the main sales channel for this product. According to CLIA, 8 out of 10 cruise bookings will be made through travel agents, which turns the cruise product into a market opportunity for thousands of travel agencies.
The key to absorb its full potential is to build on automation strategies, so that travel agencies can feature the thousands of cruise options available worldwide in a simple and automatic way, for them to focus on adding value to the selling part instead to browsing options for their clients. They should let technology gather all the options.
In a booming industry with hundreds of thousands of cruise reservations, IST solutions offer the fully automated cruise product with the best technology for selling cruises online so that travel agencies can dedicate themselves to improving the profitability of the business.
For 20 years, IST has been bringing the most advanced technology to the sector, adapting to its different B2B, B2C and B2BC business models with technological solutions that connect 46,500 travel agencies with more than 30 cruise lines and 22,500 itineraries.
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