Cruises - Chad | Statista Market Forecast

Chad is expected to witness a rise in the revenue of the Cruises market, projected to reach US$298.20k by 2024.
Moreover, the revenue is estimated to display a Compound Annual Growth Rate (CAGR 2024-2029) of 2.77%, leading to a projected market volume of US$341.80k by 2029.
The number of users in this market is expected to reach 870.00users by 2029.
In 2024, the user penetration is anticipated to be 0.00% and is expected to remain the same by 2029.
The Average Revenue Per User (ARPU) is likely to reach US$471.40.
By 2029, the online sales in the Cruises market are projected to generate 20% of the total revenue.
In terms of global comparison, United States is expected to generate the highest revenue of US$25bn by 2024.
Chad's lack of access to major waterways and infrastructure limits the development 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 Chad is experiencing a gradual but steady growth, reflecting a global trend towards increased interest in cruise travel.

Customer preferences: Chadian consumers are increasingly drawn to the idea of cruise vacations due to the allure of exploring different destinations in a convenient and luxurious manner. The all-inclusive nature of cruises, offering accommodation, meals, and entertainment in a single package, appeals to customers seeking hassle-free travel experiences.

Trends in the market: In Chad, the Cruises market is witnessing a rise in demand for themed cruises that cater to specific interests such as adventure, wellness, or cultural exploration. This trend mirrors the growing popularity of niche cruise experiences globally, as travelers seek more personalized and unique vacation options. Additionally, there is a noticeable increase in the number of luxury cruise providers entering the Chadian market, offering high-end amenities and exclusive experiences to attract discerning customers.

Local special circumstances: Chad's landlocked geography presents a unique challenge for the Cruises market, as the country lacks direct access to oceans or seas for traditional cruise routes. However, this obstacle has led to innovative solutions such as river cruises along the Chari and Logone rivers, providing a different but equally captivating cruising experience for local and international tourists. The emergence of domestic cruise operators focusing on inland waterways signifies a shift towards tailored offerings that cater to the country's specific geographical constraints.

Underlying macroeconomic factors: The development of the Cruises market in Chad is also influenced by broader macroeconomic factors such as increasing disposable income levels and a growing middle class. As more Chadians have the financial means to afford leisure travel, the demand for unique and experiential vacations like cruises is expected to rise. Furthermore, government initiatives to promote tourism and improve infrastructure are creating a more conducive environment for the growth of the travel industry, including the cruise sector.

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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