Key regions: Indonesia, Singapore, United States, India, Vietnam
The Cruises market in Southern Africa is experiencing a significant growth trajectory, driven by various factors unique to the region.
Customer preferences: Travelers in Southern Africa are increasingly drawn to cruise vacations due to the allure of exploring exotic destinations, enjoying luxurious amenities onboard, and experiencing a hassle-free travel experience. The convenience of unpacking only once while visiting multiple destinations appeals to customers seeking a relaxing yet adventurous holiday.
Trends in the market: South Africa, with its stunning coastline and vibrant port cities like Cape Town and Durban, is emerging as a popular cruise destination in Southern Africa. The country's diverse attractions, including wildlife safaris, vineyard tours, and cultural experiences, make it a compelling starting point for cruise itineraries. Additionally, the growing interest in eco-tourism has led to an increase in expedition cruises to explore the region's unique ecosystems and marine life.
Local special circumstances: Countries in Southern Africa, such as Namibia, Mozambique, and Madagascar, offer untapped potential for cruise operators looking to expand their routes. These destinations boast pristine beaches, rich cultural heritage, and diverse wildlife, providing a unique and enriching experience for cruise passengers. Furthermore, partnerships with local tour operators and community engagement initiatives have become integral to sustainable cruise tourism development in the region.
Underlying macroeconomic factors: The economic growth and stability in Southern Africa have contributed to a rise in disposable income among the middle class, enabling more individuals to afford luxury travel experiences like cruises. Moreover, government initiatives to promote tourism infrastructure development, enhance port facilities, and streamline visa processes have further fueled the growth of the cruise market in the region. As Southern Africa continues to position itself as a sought-after travel destination, the cruises market is poised for continued expansion and innovation.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
