Key regions: Indonesia, Singapore, United States, India, Vietnam
The Cruises market in Switzerland has been experiencing a notable growth in recent years, reflecting the increasing interest of Swiss consumers in cruise vacations.
Customer preferences: Swiss customers are showing a growing preference for cruise vacations due to the convenience and all-inclusive nature of such trips. The opportunity to visit multiple destinations in one journey, combined with the luxury and entertainment offerings on modern cruise ships, has made cruising an attractive option for Swiss travelers.
Trends in the market: One of the key trends in the Swiss Cruises market is the rise of expedition cruises to unique and off-the-beaten-path destinations. Swiss travelers are increasingly seeking authentic and immersive experiences, leading to a demand for cruises that explore remote and culturally rich locations. This trend is driving cruise companies to expand their offerings to cater to this niche market segment.
Local special circumstances: Switzerland's landlocked geography presents a unique challenge for the Cruises market, as Swiss travelers need to travel to coastal regions to embark on cruises. Despite this obstacle, the convenience of air travel and the well-developed transportation infrastructure in Switzerland have made it easier for consumers to access cruise ports in neighboring countries. Additionally, the high standard of living in Switzerland has contributed to the willingness of Swiss travelers to invest in luxury cruise experiences.
Underlying macroeconomic factors: The strong Swiss economy and high levels of disposable income among the population have played a significant role in driving the growth of the Cruises market. As Swiss consumers have more purchasing power, they are increasingly inclined to spend on leisure activities such as cruise vacations. Additionally, the stability of the Swiss franc has made it easier for travelers to plan and budget for international cruises, further fueling the demand for cruise holidays among Swiss tourists.
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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