Cruises - Belgium | Statista Market Forecast

in Belgium, a country in Western Europe, is expected to experience a significant growth in the Cruises market in the coming years.
According to the projections, the revenue in this market is estimated to reach €61.76m by 2024, with a CAGR of 1.33% between 2024 and 2029, resulting in a projected market volume of €66.69m by 2029.
The number of users is also expected to increase and reach 75.19k users by 2029.
In 2024, the user penetration rate in the Cruises market is expected to be 0.53% and is expected to hit 0.63% by 2029.
The average revenue per user (ARPU) is projected to be €987.00.
It is interesting to note that 28% of the total revenue in the Cruises market is expected to be generated through online sales by 2029.
Despite the growth expected in Belgium, it is still noteworthy that United States will generate the most revenue in the global comparison, with a projected revenue of €23bn in 2024.
Belgian cruise enthusiasts are showing an increased interest in river cruises, exploring the country's picturesque waterways and historic towns.

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.

For further information on the data displayed, refer to the info button right next to each box.

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 Belgium has been experiencing a steady growth in recent years, with an increasing number of Belgian consumers opting for cruise vacations.

Customer preferences: Belgian consumers are showing a growing interest in cruise holidays as they seek unique travel experiences and convenient ways to explore multiple destinations in one trip. The convenience of unpacking only once, combined with the variety of onboard activities and amenities, appeals to Belgian travelers looking for a hassle-free vacation option.

Trends in the market: One noticeable trend in the Cruises market in Belgium is the rise of themed and specialty cruises catering to specific interests such as gastronomy, wellness, or adventure. These niche cruise offerings are gaining popularity among Belgian travelers seeking tailored experiences that align with their passions and hobbies. Additionally, there is a growing demand for sustainable and eco-friendly cruises as Belgian consumers become more environmentally conscious and seek responsible travel options.

Local special circumstances: Belgium's strategic location in Europe with easy access to major cruise ports in neighboring countries like the Netherlands and Germany has contributed to the growth of the Cruises market. Belgian travelers can conveniently embark on cruises from nearby ports, expanding their choices for cruise destinations and itineraries. Furthermore, Belgium's rich maritime history and culture have fostered a deep appreciation for cruise travel among its population, with many Belgians viewing cruises as a luxurious yet accessible way to explore the world.

Underlying macroeconomic factors: The stable economic conditions in Belgium, coupled with increasing disposable incomes among Belgian households, have made cruise vacations more affordable and attractive to a larger segment of the population. As the overall travel and tourism industry in Belgium continues to thrive, the Cruises market is expected to further expand as more Belgian consumers prioritize experiences and memories over material possessions.

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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