Cruises - Italy | Statista Market Forecast

Italy is expected to contribute significantly to the revenue in the Cruises market.
In 2024, the projected revenue for the market is US$1.15bn, with an anticipated annual growth rate (CAGR 2024-2029) of 3.26%.
This growth is expected to result in a market volume of US$1.34bn by 2029.
The number of users in the Cruises market is projected to reach 1.29m users by 2029, with a user penetration of 1.90% in 2024 and a predicted increase to 2.24% by 2029.
The average revenue per user (ARPU) is expected to be US$1.02k.
It is worth noting that 26% of the total revenue in the Cruises market is expected to come from online sales by 2029.
Moreover, in terms of global comparison, United States is expected to generate the most revenue in the Cruises market, with a projected revenue of US$25bn in 2024.
Italy's cruise market is known for its luxury and cultural experiences, attracting high-end travelers seeking to explore the country's rich history and stunning coastlines.

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

Italy, known for its stunning coastlines, rich history, and delicious cuisine, has a thriving Cruises market that is experiencing interesting trends and developments.

Customer preferences: Italian customers in the Cruises market are increasingly seeking unique and immersive experiences. They are showing a growing interest in themed cruises that cater to their specific interests, such as culinary cruises exploring Italy's diverse regional cuisines or cultural cruises focusing on art and history. Additionally, there is a rising demand for sustainable and eco-friendly cruise options among Italian consumers, who are becoming more conscious of their environmental impact.

Trends in the market: One notable trend in the Cruises market in Italy is the expansion of luxury cruise offerings. Italian travelers are willing to pay premium prices for high-end cruise experiences that provide personalized service, exclusive amenities, and unique destinations. Another trend is the growing popularity of smaller cruise ships that can access smaller ports and offer a more intimate and boutique experience for passengers.

Local special circumstances: Italy's geographical location in the Mediterranean makes it a strategic hub for cruise itineraries in the region. The country's numerous picturesque ports along the coast attract a large number of cruise lines looking to offer diverse and culturally rich experiences to passengers. Additionally, Italy's strong tradition in art, fashion, and design influences the onboard experiences and entertainment offerings on cruises departing from Italian ports.

Underlying macroeconomic factors: The Cruises market in Italy is also influenced by macroeconomic factors such as disposable income levels, consumer confidence, and exchange rates. As the Italian economy continues to recover from the impacts of the global pandemic, consumer spending on leisure activities like cruises is expected to increase. Additionally, fluctuations in currency values can affect the affordability of cruise travel for Italian consumers, impacting their decision-making process when booking cruises.

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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