Key regions: Indonesia, Singapore, United States, India, Vietnam
The Cruises market in Japan is experiencing a steady growth trajectory, driven by various factors influencing consumer behavior and market dynamics.
Customer preferences: Japanese consumers are increasingly seeking unique and culturally immersive travel experiences, which has led to a growing interest in cruise vacations. The desire for convenience and all-inclusive travel packages is also fueling the demand for cruises among Japanese travelers.
Trends in the market: One notable trend in the Japanese cruise market is the rise of domestic cruises, with more cruise lines offering itineraries that explore the scenic coastlines and cultural landmarks of Japan. This shift towards domestic cruises is appealing to local travelers looking to explore their own country in a new and convenient way.
Local special circumstances: Japan's geographical location surrounded by water makes it an ideal hub for cruise travel, with numerous ports of call along its coastline. The country's rich history, vibrant culture, and stunning natural landscapes also make it an attractive destination for both domestic and international cruise travelers.
Underlying macroeconomic factors: The steady growth of Japan's economy and increasing disposable income among Japanese consumers have contributed to the expansion of the cruise market in the country. As more cruise lines tailor their offerings to cater to the preferences of Japanese travelers, the market is expected to continue its upward trajectory in the coming years.
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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