Cruises - Brunei Darussalam | Statista Market Forecast

By 2024, the revenue for the Cruises market in Brunei Darussalam is projected to reach US$371.60k, with an expected annual growth rate of 2.28%, resulting in a projected market volume of US$416.00k by 2029.
In terms of the number of users, the Cruises market in Brunei Darussalam is predicted to amount to 1.02k users by 2029.
The user penetration is expected to hit 0.22% by 2029, up from 0.13% in 2024.
The average revenue per user (ARPU) is expected to be US$650.80.
In Brunei Darussalam's Cruises market, it is forecasted that 21% of the total revenue will be generated through online sales by 2029.
When compared globally, United States is expected to generate the highest revenue in the Cruises market with a projected revenue of US$25bn by 2024.
Despite having a small population, Brunei Darussalam's growing tourism industry has seen an increase in luxury cruise ships docking in its ports.

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 Brunei Darussalam is experiencing a steady growth in recent years.

Customer preferences: Travelers in Brunei Darussalam are increasingly seeking unique and experiential travel opportunities, leading to a growing interest in cruise vacations. The convenience of visiting multiple destinations in one trip, combined with onboard amenities and entertainment options, has made cruises an attractive choice for tourists in the region.

Trends in the market: One noticeable trend in the Brunei Darussalam Cruises market is the rise of luxury cruise offerings catering to affluent travelers. These cruises provide high-end accommodations, personalized services, and exclusive shore excursions, appealing to a niche market segment in the country. Additionally, themed cruises focusing on wellness, adventure, or cultural experiences are gaining popularity among Bruneian travelers looking for more specialized vacation options.

Local special circumstances: Brunei Darussalam's strategic location in Southeast Asia, with access to diverse cruise routes in the region, has contributed to the growth of the Cruises market. The country's stunning coastline, pristine beaches, and rich marine biodiversity make it an attractive port of call for cruise ships, further boosting the development of the industry. Moreover, Brunei's efforts to promote tourism and enhance its infrastructure have created a favorable environment for cruise companies to expand their operations in the country.

Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Brunei Darussalam have played a significant role in driving the growth of the Cruises market. As more residents have the financial means to afford luxury travel experiences, the demand for cruises has seen a notable uptick. Additionally, government initiatives to develop the tourism sector and attract foreign investments have stimulated the overall tourism industry, benefiting the cruise market as well.

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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