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Cruises - Portugal

Portugal
  • The revenue for the Cruises market in Portugal is expected to reach US$59.89m by the year 2024.
  • It is projected to grow annually at a rate of 3.62%, resulting in a market volume of US$71.55m by 2029.
  • The number of users in this market is expected to reach 74.83k users by 2029.
  • In 2024, the user penetration is predicted to be 0.57%, and it is expected to increase to 0.74% by 2029.
  • The average revenue per user (ARPU) is expected to be US$1.02k.
  • By 2029, online sales are projected to contribute 27% to the total revenue in the Cruises market.
  • When compared globally, the majority of the revenue will be generated United States, with US$25bn in 2024.
  • Portugal's cruise market is thriving, with an increasing number of luxury liners visiting the country's picturesque ports.

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

    Portugal, known for its stunning coastline and rich maritime history, has seen a steady growth in its Cruises market in recent years.

    Customer preferences:
    Travelers in Portugal are increasingly drawn to the convenience and luxury offered by cruises, opting for hassle-free vacations that combine multiple destinations in one trip. The appeal of all-inclusive packages, onboard entertainment, and the opportunity to explore different cultures and cuisines are key factors driving the demand for cruises among Portuguese tourists.

    Trends in the market:
    One notable trend in the Cruises market in Portugal is the rise of river cruises along the Douro River. This niche segment has gained popularity due to the picturesque landscapes of the Douro Valley, a UNESCO World Heritage Site, attracting tourists looking for a unique and immersive travel experience. Additionally, there has been a growing interest in expedition cruises to the Azores, offering travelers the chance to explore the remote islands and diverse marine life of this Atlantic archipelago.

    Local special circumstances:
    Portugal's strategic location on the Atlantic coast makes it a gateway for cruise ships traveling between Europe and the Americas, contributing to the country's position as a key cruise destination in the region. The ports of Lisbon, Porto, and Funchal have become important hubs for cruise itineraries, offering easy access to cultural landmarks, historical sites, and scenic beauty that appeal to a wide range of passengers.

    Underlying macroeconomic factors:
    The growth of the Cruises market in Portugal is also influenced by broader macroeconomic trends, such as increasing disposable incomes and a growing middle class with a taste for luxury travel experiences. The country's stable political environment, improved infrastructure, and efforts to promote tourism have further supported the development of the cruise industry, attracting both domestic and international cruise lines to expand their offerings in the Portuguese market.

    Users

    Most recent update: Jul 2024

    Source: Statista Market Insights

    User Demographics

    Most recent update: Mar 2024

    Sources: Statista Market Insights, Statista Consumer Insights Global

    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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