Cruises - Czechia | Statista Market Forecast

By 2024, the Cruises market in Czechia is expected to reach a revenue of US$8.70m.
This is projected to increase at an annual growth rate of 4.20% (CAGR 2024-2029), resulting in a market volume of US$10.68m by 2029.
Additionally, the number of users in this market is expected to reach 12.11k users by 2029.
Furthermore, the user penetration rate is expected to increase from 0.09% in 2024 to 0.12% by 2029.
The average revenue per user (ARPU) is projected to be US$955.40.
Additionally, it is expected that 28% of the total revenue in the Cruises market in Czechia will be generated through online sales by 2029.
In comparison to other countries, United States is expected to generate the most revenue in the Cruises market, reaching US$25bn in 2024.
Despite the absence of any coastal areas, Czechia's increasing demand for river cruises on the Vltava and Elbe rivers is a rising trend in the cruising market.

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 Czechia is experiencing a gradual but steady growth in recent years.

Customer preferences: Czech travelers are increasingly drawn to the idea of exploring new destinations and experiences, which has led to a rising interest in cruise vacations. The convenience of visiting multiple locations in one trip, combined with the luxury and comfort offered by cruise ships, appeals to many Czech tourists looking for a unique and hassle-free holiday experience.

Trends in the market: One noticeable trend in the Czech Cruises market is the growing popularity of river cruises. With the picturesque Vltava River running through Prague and other charming waterways across the country, more local travelers are opting for river cruises to discover the beauty of their own homeland from a different perspective. Additionally, themed cruises focusing on wellness, gastronomy, or cultural immersion are gaining traction among Czech tourists seeking specialized and enriching travel experiences.

Local special circumstances: Czechia's landlocked geography presents a unique challenge for the Cruises market, as the country lacks direct access to the sea. However, this obstacle has encouraged the development of river cruises as a popular alternative, allowing travelers to explore the country's stunning landscapes and historic towns from a different vantage point. The rich cultural heritage and architectural marvels along the riverbanks further enhance the appeal of river cruises in Czechia.

Underlying macroeconomic factors: The improving economic conditions in Czechia have contributed to the growth of the Cruises market, as more consumers have disposable income to spend on leisure activities like cruises. Additionally, the increasing connectivity and accessibility of cruise routes from neighboring countries have made it easier for Czech travelers to embark on international cruise adventures, further fueling the market's expansion.

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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