Cruises - Iran | Statista Market Forecast

Iran is projected to witness revenue growth in the Cruises market, with an estimated revenue of US$18.59m in 2024.
The market is expected to expand with a Compound Annual Growth Rate (CAGR 2024-2029) of 21.79%, resulting in a projected market volume of US$49.82m by 2029.
By 2029, the number of users in the Cruises market is expected to reach 65.74k users.
The user penetration is anticipated to remain at 0.03%, and the average revenue per user (ARPU) is expected to be US$654.20.
Additionally, online sales are projected to account for 25% of the total revenue by 2029.
It is noteworthy that in a global comparison, United States is expected to generate the most revenue in the Cruises market, with an estimated revenue of US$25bn in 2024.
Iran's cruise market is experiencing a rise of interest from international travelers seeking to explore the country's rich cultural heritage and breathtaking natural landscapes.

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 Iran is experiencing a surge in interest and development, reflecting a growing trend in the region towards luxury travel experiences.

Customer preferences: Iranian consumers are increasingly seeking unique and luxurious travel experiences, leading to a rise in demand for cruise vacations. The allure of exploring exotic destinations and enjoying high-end amenities onboard cruise ships is driving this shift in customer preferences.

Trends in the market: One notable trend in the Iranian Cruises market is the introduction of specialized cruise packages catering to local tastes and preferences. Cruise operators are incorporating elements of Iranian culture, cuisine, and entertainment to appeal to the domestic market. This customization is resonating well with Iranian travelers, who are looking for authentic experiences even while cruising.

Local special circumstances: Iran's strategic location along the Persian Gulf and the Caspian Sea presents a unique advantage for the Cruises market. The country's picturesque coastline and historical sites offer attractive destinations for cruise itineraries. Additionally, the government's efforts to promote tourism and improve infrastructure are further boosting the development of the Cruises market in Iran.

Underlying macroeconomic factors: The improving economic conditions in Iran are also contributing to the growth of the Cruises market. As disposable incomes rise and consumer confidence increases, more Iranians are willing to invest in leisure travel experiences such as cruises. This economic stability is creating a conducive environment for the expansion of the Cruises market in the country.

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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