Cruises - Australia & Oceania

Australia & Oceania

Highlights

By 2024, the revenue of the Cruises market in Australia & Oceania is projected to reach US$1.36bn.
It is expected to exhibit a Compound Annual Growth Rate (CAGR) of 5.35% from 2024 to 2029, resulting in a projected market volume of US$1.76bn by 2029.
The number of users in the Cruises market is expected to reach 2.19m users by 2029, with a user penetration rate of 3.63% in 2024, which is expected to increase to 4.77% by 2029.
The Average Revenue Per User (ARPU) is expected to be US$859.90.
Online sales are expected to generate 33% of the total revenue in the Cruises market by 2029.
In comparison to other countries, United States is projected to generate the most revenue, with US$25bn in 2024.
Australia & Oceania's cruise market is experiencing a rise in demand for expedition cruises to explore the region's remote and untouched destinations.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cruises market in Australia & Oceania has been experiencing significant growth and development in recent years.

Customer preferences: Travelers in Australia & Oceania are increasingly seeking unique and immersive cruise experiences that allow them to explore remote destinations and engage with local cultures. There is a growing demand for expedition cruises that offer adventure activities such as snorkeling, diving, and wildlife watching. Additionally, luxury cruises with high-end amenities and personalized services are becoming popular among affluent travelers in the region.

Trends in the market: In Australia, there is a rising trend of domestic cruising as more Australians opt to explore their own backyard, leading to an increase in short-haul cruise itineraries along the country's coastline. Moreover, themed cruises focusing on food and wine, wellness, and eco-tourism are gaining traction among passengers looking for specialized experiences at sea. The use of technology and digital platforms for booking cruises and accessing onboard services is also becoming more prevalent in the market.

Local special circumstances: Australia & Oceania's unique geography, with its abundance of pristine beaches, coral reefs, and natural wonders, presents a special opportunity for cruise operators to offer unparalleled scenic routes and shore excursions. The region's diverse marine wildlife and indigenous cultures further contribute to the appeal of cruising in this part of the world. Additionally, the strict environmental regulations and conservation efforts in Australia & Oceania are shaping the development of sustainable cruise tourism practices, promoting eco-friendly initiatives and responsible travel within the industry.

Underlying macroeconomic factors: The stable economic growth and increasing disposable income levels in Australia & Oceania have led to a rise in consumer spending on leisure activities, including cruise vacations. The growing middle-class population in the region, coupled with a strong tourism sector, has created a favorable environment for the expansion of the cruise market. Furthermore, government support and infrastructure investments in ports and terminals are enhancing the accessibility and connectivity of cruise destinations in Australia & Oceania, driving further growth in the industry.

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.