Cruises - Egypt | Statista Market Forecast

By 2024, the revenue in the Cruises market sector of Egypt is projected to reach US$12.13m .
Moreover, there is an expected annual growth rate (CAGR 2024-2029) of 13.91%, which will result in a market volume of US$23.26m by 2029.
In terms of the number of users, it is expected to amount to 105.50k users by 2029.
The user penetration rate is predicted to increase from 0.02% in 2024 to 0.09% by 2029.
The average revenue per user (ARPU) is expected to reach US$526.50 .
In Egypt's Cruises market sector, it is anticipated that 21% of the total revenue will be generated through online sales by 2029.
It is noteworthy that in comparison to other countries, the majority of revenue will be generated United States, which is projected to reach US$25bn in 2024.
Egypt's cruise market offers a unique opportunity to explore ancient wonders and experience the Nile's beauty.

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

Over the past few years, Egypt has seen a significant growth in its Cruises market.

Customer preferences: Travelers in Egypt are increasingly seeking unique and immersive experiences, driving the demand for cruises that offer cultural enrichment and historical exploration. This shift in consumer preferences aligns with global trends towards experiential travel, where passengers are looking for more than just a traditional leisure trip.

Trends in the market: One notable trend in the Egyptian Cruises market is the rise of themed cruises catering to niche interests such as archaeology, gastronomy, and wellness. These specialized cruises attract a specific segment of travelers looking to indulge in their passions while enjoying the comfort and luxury of a cruise vacation. Additionally, there has been a growing interest in eco-friendly and sustainable cruises, reflecting a broader global movement towards responsible tourism.

Local special circumstances: Egypt's rich history and cultural heritage make it a prime destination for cruise tourism. The country's proximity to iconic historical sites such as the Pyramids of Giza, Luxor, and the Valley of the Kings offers a unique selling point for cruise operators. Moreover, the allure of sailing down the Nile River, the longest river in the world, adds a touch of mystique and romance to the cruising experience in Egypt.

Underlying macroeconomic factors: The stabilization of the political situation in Egypt in recent years has helped boost tourism, including the cruise sector. As the country continues to invest in infrastructure development and promote tourism initiatives, the Cruises market is poised to further expand. Additionally, the depreciation of the Egyptian pound has made travel more affordable for international visitors, contributing to the growth of the tourism industry as a whole, including the Cruises 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.

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