Cruises - Russia | Statista Market Forecast

It is projected that the revenue in the Cruises market of Russia will reach US$57.82m by 2024.
Moreover, it is expected that the revenue will exhibit an annual growth rate, CAGR 2024-2029, of 3.78%.
This growth will result in a projected market volume of US$69.62m by 2029.
In terms of the number of users in the Cruises market, the expected amount is 83.87k users by 2029.
As of 2024, the user penetration is 0.05%, which is expected to increase to 0.06% by 2029.
The average revenue per user (ARPU) is projected to be US$752.50.
It is also projected that 22% of the total revenue generated in the Cruises market of Russia will be through online sales by 2029.
In comparison to other countries, United States is expected to generate the most revenue, with US$25bn in 2024.
Despite challenges such as visa restrictions and a lack of infrastructure, the demand for luxury cruises among wealthy Russians continues to grow.

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 Russia is experiencing a steady growth trajectory, fueled by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Russian customers are increasingly seeking unique and immersive travel experiences, driving the demand for cruises that offer cultural enrichment, adventure activities, and off-the-beaten-path destinations. The shift towards experiential travel is evident in the rising popularity of themed cruises, such as culinary tours, wellness retreats, and historical expeditions.

Trends in the market: One notable trend in the Russian Cruises market is the growing interest in domestic cruises along the country's vast network of rivers and lakes. This trend is driven by a desire to explore the diverse landscapes and historical sites within Russia, showcasing the rich cultural heritage of the region. Additionally, there is a rising demand for expedition cruises to the Arctic region, offering travelers a chance to witness the unique wildlife and pristine landscapes of the North.

Local special circumstances: The geographical location of Russia presents unique opportunities for cruise operators, with access to the Arctic Circle, the Black Sea, the Baltic Sea, and the Pacific Ocean. This diverse range of sailing routes allows for a variety of cruise itineraries, catering to different preferences and interests among Russian travelers. Furthermore, the presence of historic port cities such as St. Petersburg and Vladivostok adds a cultural dimension to cruise experiences, attracting history enthusiasts and art aficionados.

Underlying macroeconomic factors: The economic growth and increasing disposable income levels in Russia have contributed to the expansion of the Cruises market. As more consumers have the financial means to invest in luxury travel experiences, the demand for cruises has seen a corresponding rise. Additionally, government initiatives to promote tourism and improve infrastructure in port cities have created a favorable environment for the development of the cruise industry in Russia.

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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