Cruises - Tanzania | Statista Market Forecast

The Cruises market is anticipated to witness a rise in revenue in Tanzania, projected to reach US$1.98m by 2024.
Moreover, the market is expected to exhibit an impressive CAGR of 7.29% during the years 2024-2029, resulting in a projected market volume of US$2.81m by 2029.
Furthermore, the number of users in this market is predicted to increase to 7.43k users by 2029, with a user penetration of 0.01% in 2024, which is expected to rise to 0.01% by 2029.
The average revenue per user (ARPU) is expected to amount to US$521.80.
Additionally, it is anticipated that 24% of the total revenue generated in the Cruises market will be through online sales by 2029.
It is noteworthy that in a global comparison, United States is projected to generate the highest revenue (US$25bn in 2024) in this market.
Tanzania's cruise industry is on the rise, with luxury liners offering coastal tours, wildlife safaris, and visits to the Spice Islands.

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 Tanzania is experiencing a notable growth trajectory, driven by various factors influencing consumer behavior and market dynamics in the region.

Customer preferences: Travelers in Tanzania are increasingly seeking unique and experiential travel opportunities, leading to a growing interest in cruise vacations. The desire for leisure travel combined with the allure of exploring different destinations in a convenient and luxurious manner has significantly contributed to the rising demand for cruises among Tanzanian tourists.

Trends in the market: One of the prominent trends in the Tanzanian Cruises market is the expansion of cruise offerings tailored to local preferences. Cruise operators are introducing themed cruises, cultural experiences, and adventure activities to cater to the specific tastes of Tanzanian travelers. Additionally, partnerships with local tour operators and collaborations with regional tourism boards are enhancing the visibility of cruise vacations in Tanzania.

Local special circumstances: Tanzania's unique geographical position along the Indian Ocean coast presents a strategic advantage for the development of the Cruises market. The country's stunning coastline, including picturesque islands like Zanzibar and Mafia, offers an idyllic setting for cruise itineraries. The rich marine biodiversity and vibrant coastal culture further contribute to the appeal of cruise travel in Tanzania.

Underlying macroeconomic factors: The growth of the Cruises market in Tanzania is also influenced by broader macroeconomic factors, such as increasing disposable incomes and a growing middle-class population. As more Tanzanians have the financial means to invest in luxury travel experiences, the demand for cruises is expected to continue on an upward trajectory. Furthermore, government initiatives to promote tourism and improve infrastructure are creating a conducive environment for the development of the cruise industry in Tanzania.

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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