Cruises - Angola | Statista Market Forecast

in Angola, a country situated Southern_Africa, is expected to witness revenue growth in the Cruises market.
According to projections, the revenue in this market is expected to reach US$4.03m in 2024 and grow at an annual growth rate of 10.98%, resulting in a projected market volume of US$6.78m by 2029.
By 2029, the number of users is expected to reach 10.08k users, with user penetration hitting 0.02%.
The average revenue per user (ARPU) is anticipated to be US$676.10.
Additionally, it is estimated that 23% of the total revenue will be generated through online sales by 2029.
In global comparison, United States is projected to generate the highest revenue in the Cruises market, with a revenue of US$25bn in 2024.
Despite Angola's potential for coastal tourism, the lack of infrastructure and political instability limit the growth of the cruise industry in the country.

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 Angola has been experiencing significant growth and development in recent years.

Customer preferences: Angolan customers are increasingly showing interest in luxury travel experiences, leading to a rise in demand for cruise vacations. The desire for unique and memorable holiday experiences is driving more individuals to explore cruise options as a preferred mode of travel.

Trends in the market: In Angola, there is a noticeable trend towards all-inclusive cruise packages that offer convenience and value for money. Customers appreciate the opportunity to visit multiple destinations in one trip without the hassle of planning individual itineraries. This trend aligns with the global shift towards experiential travel and seeking hassle-free vacation options.

Local special circumstances: Angola's picturesque coastline along the Atlantic Ocean presents a unique opportunity for the cruise industry to expand its offerings in the region. The country's rich cultural heritage and natural beauty make it an attractive destination for cruise lines looking to cater to travelers seeking diverse experiences.

Underlying macroeconomic factors: The improving economic conditions in Angola have contributed to the growth of the Cruises market. As disposable incomes rise and consumer confidence increases, more Angolans are willing to invest in premium travel experiences such as cruises. Additionally, government initiatives to promote tourism and infrastructure development have further boosted the cruise industry in the country.

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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