Cruises - Qatar | Statista Market Forecast

By 2024, the projected revenue in the Cruises market in Qatar is expected to reach US$10.89m.
The revenue is also projected to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 2.93%, which will result in a projected market volume of US$12.58m by 2029.
Furthermore, the number of users in the Cruises market is expected to reach 16.01k users by 2029.
The user penetration in this market is expected to increase from 0.40% in 2024 to 0.56% by 2029.
With an average revenue per user (ARPU) of US$1.01k, the market is expected to generate 29% of total revenue through online sales by 2029.
It is also noteworthy that in the global comparison, United States is expected to generate the most revenue in this market, with a projected revenue of US$25bn in 2024.
Despite the pandemic, Qatar's high-income population is continuing to drive demand for luxury cruise experiences in the region.

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 Qatar has been experiencing steady growth in recent years, reflecting the increasing popularity of cruise travel among Qatari residents and tourists.

Customer preferences: Cruise customers in Qatar are showing a strong preference for luxury and high-end cruise experiences. They are increasingly seeking unique and exclusive onboard amenities, personalized services, and upscale dining options. This trend is in line with the global shift towards experiential travel and luxury tourism, where travelers are willing to pay more for premium experiences.

Trends in the market: One noticeable trend in the Qatari Cruises market is the growing demand for cruises that offer cultural immersion and authentic local experiences. Cruise operators are responding to this trend by incorporating more destination-focused itineraries that highlight Qatar's rich heritage, traditions, and attractions. Additionally, there is a rise in themed cruises catering to specific interests such as gastronomy, wellness, or adventure, providing passengers with tailored experiences.

Local special circumstances: Qatar's strategic location in the Middle East, with a rapidly developing tourism infrastructure and a strong focus on luxury tourism, has positioned the country as an attractive hub for cruise travel in the region. The government's investments in expanding port facilities and promoting Qatar as a cruise destination have contributed to the growth of the Cruises market. Additionally, the country's stable political environment and high standards of safety and security make it an appealing choice for cruise travelers.

Underlying macroeconomic factors: The economic prosperity in Qatar, driven by its oil and gas industry, has resulted in a growing affluent population with disposable income to spend on luxury travel experiences like cruises. The country's efforts to diversify its economy and promote tourism as part of its Vision 2030 plan have also boosted the Cruises market. Furthermore, the increasing connectivity with major cruise routes in the region and the expansion of cruise lines offering Qatar as a port of call have further stimulated the growth of 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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