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Cruises - Romania

Romania
  • Romania is expected to witness a rise in the Cruises market revenue, which is projected to reach US$12.46m by 2024.
  • This projection is based on an expected annual growth rate (CAGR 2024-2029) of 6.47%, resulting in an estimated market size of US$17.05m by 2029.
  • The number of users in this market is also expected to increase, amounting to 23.09k users by 2029.
  • In 2024, the user penetration rate is expected to be 0.07%, which is projected to increase to 0.12% by 2029.
  • The average revenue per user (ARPU) is expected to be US$914.10.
  • Additionally, it is expected that 24% of the total revenue in the Cruises market will be generated through online sales by 2029.
  • It is worth noting that United States is expected to generate the most revenue in the global comparison, projected to reach US$25bn in 2024.
  • However, the projected growth in the Romanian market is significant and should not be overlooked.
  • Romanian cruise passengers are increasingly interested in exploring the Black Sea region, including destinations like Constanta and Odessa.

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

    The Cruises market in Romania has been experiencing a steady growth in recent years, reflecting a growing interest in cruise travel among Romanian consumers.

    Customer preferences:
    Romanian consumers are increasingly opting for cruises as a convenient and hassle-free way to explore multiple destinations in one trip. The all-inclusive nature of cruise packages appeals to customers looking for a seamless travel experience without the need to handle multiple bookings and logistics. Additionally, the variety of onboard activities and amenities offered by cruise lines cater to a wide range of preferences, making cruises an attractive option for different types of travelers.

    Trends in the market:
    One notable trend in the Romanian Cruises market is the increasing demand for river cruises. With the Danube River running through Romania, river cruises have become a popular choice for local travelers seeking to discover the cultural and historical attractions along the river's route. These cruises offer a unique way to experience the beauty of the region while enjoying the comfort and luxury of a cruise ship.

    Local special circumstances:
    Romania's strategic location along the Black Sea coast also plays a significant role in the development of the Cruises market. The country serves as a gateway to popular cruise destinations in the Black Sea region, attracting both domestic and international cruise lines to include Romanian ports in their itineraries. This has contributed to the growth of cruise tourism in Romania, with an increasing number of ships making stops at ports such as Constanta.

    Underlying macroeconomic factors:
    The improving economic conditions in Romania have also contributed to the growth of the Cruises market. As disposable incomes rise and consumer confidence increases, more Romanians are willing to spend on leisure activities such as cruises. The expanding middle class in the country has created a larger market for cruise operators to tap into, driving further development and investment in the industry.

    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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