Cruises - New Zealand | Statista Market Forecast

By 2024, the projected revenue in New Zealand's Cruises market is expected to reach US$72.93m.
The revenue is further estimated to exhibit an annual growth rate (CAGR 2024-2029) of 3.36%, leading to a projected market volume of US$86.05m by 2029.
Additionally, it is expected that the number of users in the Cruises market will amount to 145.00k users by 2029.
In 2024, the user penetration rate in New Zealand's Cruises market is anticipated to be 1.98%, which is expected to increase to 2.66% by 2029.
The average revenue per user (ARPU) is projected to be US$698.90.
Furthermore, it is estimated that 10% of the total revenue generated in the Cruises market will be through online sales by 2029.
It is noteworthy that in global comparison, United States is expected to generate the most revenue in the Cruises market, with a projected revenue of US$25bn in 2024.
New Zealand's cruise market is seeing a growing interest in expedition cruises to remote locations, offering unique experiences for adventurous travelers.

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 New Zealand has been experiencing a significant growth in recent years.

Customer preferences: Travelers in New Zealand are increasingly seeking unique and experiential travel opportunities, which has led to a rise in demand for cruise vacations. The preference for all-inclusive packages and hassle-free travel experiences has also contributed to the growing popularity of cruises among New Zealanders.

Trends in the market: One notable trend in the New Zealand Cruises market is the increasing interest in expedition cruises to remote and off-the-beaten-path destinations. This trend aligns with the global shift towards sustainable and eco-conscious travel choices. Additionally, themed cruises catering to specific interests such as wellness, culinary experiences, or adventure sports are gaining traction among travelers in New Zealand.

Local special circumstances: The geographical location of New Zealand, surrounded by stunning coastlines and pristine natural landscapes, makes it an ideal hub for cruise itineraries. The country's unique Maori culture and rich biodiversity also add to the appeal of cruise vacations in New Zealand. Moreover, the government's efforts to promote tourism and develop cruise infrastructure have further boosted the market in the region.

Underlying macroeconomic factors: The stable economic growth in New Zealand, coupled with increasing disposable incomes among the population, has made leisure travel more accessible to a larger segment of the society. As a result, more New Zealanders are opting for cruise vacations as a convenient and value-for-money travel option. Additionally, the strong New Zealand dollar has made international cruises more affordable for residents, driving further growth in the market.

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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