Cruises - Fiji | Statista Market Forecast

By 2024, the projected revenue in the Cruises market in Fiji is expected to reach US$421.90k.
Moreover, it is anticipated that there will be an annual growth rate of 6.44% between 2024 and 2029.
This growth rate would lead to a market volume of US$576.30k in the same year.
The number of users in the Cruises market is expected to increase to 1.03k users by 2029.
In 2024, user penetration is expected to be 0.07%, which is expected to increase to 0.10% by 2029.
The average revenue per user (ARPU) is expected to be US$672.20.
In Fiji, it is anticipated that 21% of the total revenue will be generated through online sales by 2029.
It is interesting to note that in global comparison, United States is expected to generate the highest revenue with an estimated revenue of US$25bn in 2024 in the Cruises market.
Fiji's cruise market offers unique experiences, including visits to remote islands and cultural immersion with local communities.

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 Fiji is experiencing a significant growth in recent years, attracting a diverse range of travelers seeking unique and exotic experiences in the South Pacific.

Customer preferences: Travelers in Fiji are increasingly drawn to cruises that offer immersive cultural experiences, adventurous excursions to remote islands, and opportunities for sustainable tourism practices. The demand for eco-friendly cruises that prioritize environmental conservation and support local communities is on the rise, reflecting a global trend towards responsible travel.

Trends in the market: One notable trend in the Cruises market in Fiji is the growing popularity of small ship cruises that allow for more intimate and personalized travel experiences. These cruises cater to travelers looking to explore off-the-beaten-path destinations and engage in authentic cultural interactions. Additionally, themed cruises focusing on wellness, gastronomy, or adventure activities are gaining traction among tourists seeking specialized experiences.

Local special circumstances: Fiji's unique geography, with its pristine beaches, crystal-clear waters, and vibrant marine life, positions it as a top destination for cruise tourism in the South Pacific. The country's rich cultural heritage, warm hospitality, and diverse range of activities such as snorkeling, diving, and traditional Fijian ceremonies contribute to its appeal among cruise passengers. Furthermore, the Fijian government's efforts to promote tourism development and improve infrastructure have enhanced the overall cruise experience for visitors.

Underlying macroeconomic factors: The growth of the Cruises market in Fiji can also be attributed to favorable macroeconomic conditions, including stable economic growth, increasing disposable incomes, and government initiatives to boost tourism. As disposable incomes rise, more individuals are able to afford luxury cruise vacations, driving demand in the market. Additionally, strategic marketing campaigns by cruise operators and partnerships with local tour operators have helped raise awareness and attract more international visitors to Fiji's cruise industry.

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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