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Cruises - Iraq

Iraq
  • In 2024, the projected revenue in the Cruises market is set to reach US$9.60m.
  • It is expected to exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 3.91%, leading to a projected market volume of US$11.64m by 2029.
  • By this time, the number of users in this market is forecasted to amount to 18.72k users.
  • In 2024, the user penetration is expected to be 0.03%, which is projected to increase to 0.04% by 2029.
  • The Average Revenue Per User (ARPU) is anticipated to be US$744.40.
  • By 2029, online sales are predicted to generate 28% of the total revenue in the Cruises market.
  • It is noteworthy to mention that, in the global comparison, United States is expected to generate the highest revenue (US$25bn in 2024) in this market.
  • Furthermore, it is important to note that this market includes in Iraq.
  • Despite challenges posed by ongoing conflicts and security concerns, Iraq's cruise market shows potential for growth in the future as the country works towards stabilization and increased tourism.

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.

In-Scope

  • Multi-day cruises
  • Ocean cruises and river cruises

Out-Of-Scope

  • Trips by ferry (including trips with overnight stay)
  • Trips by ferry mainly for transport purposes
Cruises: market data & analysis - Cover

Market Insights report

Cruises: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Cruises market in Iraq has been showing promising signs of development in recent years.

    Customer preferences:
    Customers in Iraq are increasingly looking for unique and luxurious travel experiences, which has led to a growing interest in cruise vacations. The desire for all-inclusive travel packages and the opportunity to visit multiple destinations in one trip are key factors driving the demand for cruises among Iraqi travelers.

    Trends in the market:
    One notable trend in the Iraqi Cruises market is the rise of river cruises along the Tigris and Euphrates rivers. These cruises offer passengers a chance to explore the rich history and cultural heritage of the region while enjoying the comfort and amenities of modern cruise ships. The popularity of river cruises is expected to continue growing as more cruise operators recognize the potential of this unique market.

    Local special circumstances:
    Iraq's unique geographical location and historical significance make it an attractive destination for cruise tourism. The country's ancient sites, such as Babylon and Ur, appeal to history enthusiasts, while its bustling markets and vibrant cities offer a dynamic cultural experience for travelers. The government's efforts to promote tourism and improve infrastructure are also contributing to the growth of the Cruises market in Iraq.

    Underlying macroeconomic factors:
    Despite facing challenges such as political instability and security concerns, Iraq's economy has been gradually recovering in recent years. The improving economic conditions, coupled with a growing middle class with disposable income, are creating opportunities for the travel and tourism industry, including the Cruises market. As more Iraqis seek to explore the world in style and comfort, the demand for cruises is expected to continue rising in the coming years.

    Users

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Methodology

    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.

    Mobility

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    Cruises: market data & analysis - BackgroundCruises: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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