Analysis of Global Cruise Market

Introduction
Cruise industry represents a small segment of the vacation industry which itself is a very small part of the leisure industry. The cruise market is characterized by exceptional value proposition, wide appeal, positive guest demographics, high guest satisfaction rate and favorable supply vs. demand balance.

The industry has seen a significant growth over time and it is expected to grow further in the coming years. Though, in 2009, the growth in industry has declined, but it is expected to pick up again as the global economy recovers gradually from the downturn. Seeing the growth potential in cruise market, the number of players has increased and the existing players will be increasing their capacities in the coming years.

North America is the primary market for cruise activities. Though the region represents the most mature market of cruise activities, with majority of passengers originating from US, it is still underdeveloped with huge potential. Hence, industry players are working to increase their ship capacities and lower berth capacities to meet the growing demand of the industry. Europe is the second largest market after North America, representing the fastest growing market. The European cruise industry continues to increase its share of the global cruise market, with UK being the largest shareholder in the European market.

The global cruise industry is now looking towards Asia as a major growth engine. The Asian cruise market is growing at a good growth rate. With the growing middle class group and the increasing interest of people in cruising activities, this region provides ample growth opportunities for the players. Being among the top preferred destination for travelers, the Australian and Singapore cruise industry can witness significant growth in near future.

Report Highlights

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TABLE OF CONTENTS
1. Cruise Market: An Overview

1.1 Introduction

Cruise Industry as a Part of Leisure/Entertainment Industry
Cruise Types by Duration, Type of Customers and Passenger Capacity

1.2 General Terms

General Terms to Measure Cruise Operations

1.3 Characteristics of Cruise Vacation Industry

Features of Cruise Industry in Terms of Demographics, Satisfaction Rate, Supply vs. Demand Scenario

2. Global Cruise Market

Global Passenger Capacity Growth and Addition in Future
Global Cruise Market Revenues Growth with Regional Breakup
Duopoly Situation with two Market Leaders
Capacity Addition by Number of Ships

3. Principal Markets

3.1. North America Cruise Market

3.1.1. Demographics Trend

Cruiser Target Market
Demographics of Cruise Customers

3.1.2 Cruise Industry Statistics

North American Cruise Passengers Growth
Global Embarkations for North American Market
Cruise Passengers by Source Country
Capacity Addition in Terms of Lower Berth and Cruise Ships
Average Length of Cruise
Market Share of Principal Destinations
Growth in Available Bed Days and Passenger Bad Days
Gross Revenues Growth

3.2. European Cruise Market

3.2.1. Demographic Trends

Average Age of Cruisers
UK, Germany, France – Cruisers’ Average Age

3.2.2 Cruise Market Statistics

European Cruise Passengers Growth
Growth in Capacity in Terms of Cruise Ships and Lower Berths
Main European Cruise Markets
European Cruise Market by Source Country
European Cruise Market by Destination Country
Share of Passengers by Duration
Regional Share of Passengers by Destination

4. Potential Cruise Markets

4.1. Global Under-Penetration

Penetration Rate in North America and Europe

4.2. Asia Pacific Cruise Market: Long-Term Growth Potential

4.2.1 Market Overview

Asia Pacific Share in Global Cruise Revenues
Growth in Cruise Passengers in Asia Pacific
East Asian and South-East Asia Cruise Passengers Growth

4.2.2 Demographic Trends

Demographic Factors of Asia

4.2.3 Australian Cruise Market

Growth in Australian Resident Passengers
Growth in Total Passenger Days at Port
Number of Visiting Cruise Ships
Growth in Passenger Capacity
Total Passenger Expenditure Growth

4.2.4 Singapore Cruise Market

Growth in Number of Ships
Cruise Passengers Throughput Growth
Number of Ship Calls

5. Market Developments

5.1 Market Trends

5.1.1 Travel Agents
5.1.2 Booking Trend
5.1.3 New Offers in Pricing
5.1.4 Rise in Group Travels
5.1.5 Growth in Eco-Friendly Vessels

5.2 Key Growth Drivers

5.2.1 Attractive Value Propositions
5.2.2 Increasing Consumer Spending and Income
5.2.3 Demography: from Old and Rich to Young and Cost Aware
5.2.4 Expanding Middle Class in Asia
5.2.5 Growing World GDP
5.2.6 Employment Growth

6. Competition Landscape of Cruise Market

6.1 Competitive Analysis

Leading Players in North America
Leading Players in Europe

6.2 Company Profiles

6.2.1 Carnival Corporation (CCL)

Business Overview
Business Strategies
Expanding in Europe: Potential Area
Enhance Presence in Emerging Markets

6.2.2 Royal Caribbean Cruises Ltd. (RCL)

Business Overview
Business Strategies
Developing Brands Custom-Tailored to Specific Markets
New Markets and Itineraries

6.2.3 TUI Ag

Business Overview
Business Strategies
Pro-Active Capacity Management
Increased Focused on Differentiated Products and Emerging Markets
Streamlining Non-Core Assets

7. Market Outlook
7.1 Market Forecast

7.2 Forecast Methodology
7.2.1 Dependent and Independent Variables
7.2.2 Correlation Analysis
7.2.3 Regression Analysis
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LIST OF TABLES
Type of Cruises
Market Segments by Passenger Capacity
New Passenger Capacity Addition Statistics (2010-2012)
Overview of Cruise Clients, North America (2008)
Regional % of Passengers by Destination, European Cruise Market (2008)
Low Penetration Rate, North America and Europe
Total Passenger and Crew Days by Ports, Australia (2008-2009)
Carnival Corporation Cruise Operations (2009)
Carnival Corporation Capacity Statistics (2005-2009)
Carnival Corporation Total Revenues by Segment (2005-2009)
Royal Caribbean Cruises Operating Statistics (2005-2009)
Dependent & Independent Variables (2003– 2009)
Correlation Table
Model Summary – Coefficient of Determination
Regression Coefficients Output
LIST OF FIGURES
Global Cruise Passengers (2003–2013E)
Weighted Average Supply of Berths Marketed Globally (2004-2008)
Global Cruise Industry Available Lower Berth Day Capacity (2003-2014E)
Global Cruise Revenues (2008-2010)
Regional Breakup of Global Cruise Revenues (2010)
Global Cruise Revenues Breakup by Company
Global Cruise Passengers for North American Cruise Industry (2000-2008)
Distribution of Global Embarkations for North American Market (2008)
North American Cruise Industry by Source Country (2005-2008)
Share of Source Country in North American Market (2008)
Share of Passengers by Duration, North America (2008)
Average Length of Cruise, North America (2000-2008)
North American Cruise Capacity (2002-2008)
North American Cruise Capacity Addition (2009E-2013E)
North American Cruise Capacity Addition (Ships) (2009E-2013E)
North American Cruise Bed Days Statistics (2004-2008)
Total Bed Day Capacity in North America (2004-2008)
Market Share of Principal Destinations of Bed Day Capacities
Gross Revenues for North American Cruise Industry (2001-2008)
Gross Revenues per Passenger, North America (2004-2008)
North American Cruise Industry Available Lower Berth Day Capacity (2003-2008)
European Cruise Passengers Growth (2003-2008)
Major European Cruise Markets (2003-2008)
European Cruise Market by Source Country (% Share) (2008)
European Cruise Market by Destination (2004-2008)
Destination Market Share in European Cruise Market (2008)
Share of Passengers by Duration (2005-2008)
Number of Cruise Ships in Europe (2008-2012)
Number of Australian Resident Passengers, by Location (2002-2008)
Australia Cruise Industry, Total Passenger Days at Port (2004-2009)
Number of Visiting Cruise Ship, Australia (2004-2009)
Passenger Capacity of Cruise Ships, Australia (2004-2009)
Australian Ports Visited by Cruise Ships (2004-2009)
Number of Cruise Ship Visits to Ports, Australia (2004-2009)
Total Passenger Expenditure, Australia Cruise Industry (2004-2009)
Number of Ships, Singapore (2003-2008)
Passenger Throughput, Singapore (2003-2008)
Number of Ship Calls, Singapore (2003-2008)
Price of a Holiday/Cruise for a Person
World Private Consumption per Head (2003-2013E)
Employment Growth in Leading Cruise Markets (2000-2013)
Market Share of Leading Players in North American Cruise Industry (2008-2009)
Market Share of Leading Players in European Cruise Industry (2008-2009)
Carnival Corporation Weighted-Average Aggregate Passenger Capacity Addition (2009-2012)
Royal Caribbean Cruises Total Revenues (2005-2009)
TUI Revenue by Segments (FY08)
Forecasted Global Cruise Passengers (2010E-1013E)
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