Cruises - Algeria | Statista Market Forecast

Algeria is projected to generate a revenue of US$5.72m in the Cruises market by 2024.
Furthermore, this market is anticipated to grow annually at a rate of 6.10%, resulting in a market volume of US$7.70m by 2029.
The number of users in the Cruises market is expected to reach 14.47k users by 2029.
In 2024, the user penetration rate is estimated to be 0.02% and this figure is expected to remain constant by 2029.
The average revenue per user (ARPU) is forecasted to be US$599.90.
By 2029, an estimated 21% of the total revenue in the Cruises market will be generated through online sales.
It is noteworthy that United States will generate the most revenue in this market, with an expected revenue of US$25bn by 2024, in comparison to other countries worldwide.
Despite the growing interest in the cruise market in North Africa, Algeria is yet to establish itself as a major player in this market.

Definition:

A cruise is a multi-day vacation trip on a cruise ship which crosses the sea or large inland waters while calling at different tourist destinations along a certain route. With this kind of ship journey, it is not the aspect of transport that is in the spotlight but the stay aboard the ship as well as visiting the tourist destinations. The Cruises market encompasses exclusively passenger ticket revenues. Onboard and other revenues are not included.

Additional Information:

The main performance indicators of the Cruises market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of guests. Each user is only counted once per year.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

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Multi-day cruises
Ocean cruises and river cruises

Trips by ferry (including trips with overnight stay)
Trips by ferry mainly for transport purposes

The Cruises market in Algeria is experiencing a notable growth trajectory in recent years.

Customer preferences: Algerian customers are increasingly showing interest in cruises as a unique and luxurious travel experience. The allure of visiting multiple destinations in one trip, coupled with the convenience of onboard amenities and entertainment, is appealing to Algerian travelers. Additionally, the desire for experiential travel and exploration is driving more customers towards cruise vacations.

Trends in the market: One prominent trend in the Algerian Cruises market is the introduction of themed cruises tailored to specific interests such as culinary experiences, wellness retreats, or adventure activities. These specialized offerings cater to the evolving preferences of Algerian travelers seeking more personalized and immersive cruise experiences. Furthermore, collaborations between cruise companies and local tour operators to include exclusive shore excursions are gaining popularity among Algerian customers.

Local special circumstances: Algeria's strategic location along the Mediterranean coast positions it as a promising hub for cruise tourism in the region. The country's rich history, diverse culture, and stunning coastal landscapes offer unique attractions for cruise passengers. As a result, cruise lines are increasingly including Algerian ports in their itineraries, contributing to the growth of the local tourism industry and boosting economic development in the region.

Underlying macroeconomic factors: The growing disposable income and expanding middle-class population in Algeria are key macroeconomic factors driving the development of the Cruises market. As more Algerians have the financial means to afford luxury travel experiences, the demand for cruises is expected to continue rising. Additionally, government initiatives to promote tourism and improve infrastructure are creating a conducive environment for the growth of the cruise industry in Algeria.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of cruises.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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