Cruises - Denmark | Statista Market Forecast

By the year 2024, the Cruises market in Denmark is predicted to generate a revenue of US$51.20m.
The market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 2.24% between the years 2024 and 2029, which would result in a forecasted market volume of US$57.20m by 2029.
The number of users in the Cruises market is anticipated to be 46.16k users by 2029.
In 2024, the user penetration rate is estimated to be 0.64%, which is expected to grow to 0.76% by 2029.
The Average Revenue Per User (ARPU) is projected to be US$1.34k.
Furthermore, it is estimated that 28% of the total revenue in the Cruises market will come from online sales by 2029.
When compared globally, United States is predicted to generate the highest revenue in the Cruises market, amounting to US$25bn in 2024.
Denmark's cruise market is seeing a shift towards sustainable and eco-friendly cruises, with a focus on exploring the country's stunning coastlines and historic cities.

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

Denmark, known for its picturesque coastline and vibrant maritime culture, has seen a steady growth in its Cruises market in recent years.

Customer preferences: Travelers in Denmark are increasingly drawn to the convenience and luxury that cruises offer. With the rise of experiential travel, more Danes are opting for cruise vacations to explore multiple destinations in a single trip. The all-inclusive nature of cruises, which often include accommodation, meals, and entertainment, appeals to customers looking for hassle-free holiday experiences.

Trends in the market: One notable trend in the Danish Cruises market is the growing demand for sustainable and eco-friendly cruise options. As environmentally conscious consumers seek greener travel alternatives, cruise lines are incorporating more sustainable practices such as waste reduction, energy efficiency, and shore power connections. This trend aligns with Denmark's strong focus on sustainability and green initiatives, making eco-friendly cruises a popular choice among Danish travelers.

Local special circumstances: Denmark's strategic location as a gateway to the Baltic Sea has positioned it as a key hub for cruise itineraries in Northern Europe. The country's well-developed infrastructure, including modern cruise terminals and efficient transportation networks, has further boosted its appeal as a cruise destination. Additionally, Denmark's rich maritime heritage and cultural attractions provide unique experiences for cruise passengers, enhancing the overall appeal of the Danish Cruises market.

Underlying macroeconomic factors: The growth of the Cruises market in Denmark can also be attributed to favorable macroeconomic conditions. A stable economy, rising disposable incomes, and increasing consumer confidence have contributed to higher spending on leisure activities such as cruise vacations. Furthermore, government support for the tourism sector and initiatives to promote Denmark as a cruise destination have helped drive the expansion of the market.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.