Cruises - United Kingdom | Statista Market Forecast

The projected revenue for the Cruises market in the United Kingdom is set to reach US$3.15bn in 2024.
By 2029, the revenue is expected to show an annual growth rate of 2.07%, resulting in a projected market volume of US$3.49bn.
In terms of users, the market is expected to have 3.17m users users by 2029.
The user penetration, which is currently at 3.56% in 2024, is expected to be 4.59% by 2029.
The average revenue per user (ARPU) is projected to be US$1.30k.
Furthermore, it is expected that 29% of the total revenue in the Cruises market will be generated through online sales by 2029.
In comparison to other countries, United States is expected to generate the most revenue, with a projected revenue of US$25bn in 2024.
The United Kingdom's cruise market is shifting towards more sustainable and environmentally conscious options, with a focus on reducing plastic waste and carbon emissions.

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 United Kingdom has been experiencing a steady growth in recent years, reflecting a global trend towards experiential travel and a desire for unique vacation experiences.

Customer preferences: In the United Kingdom, customers are increasingly seeking personalized and immersive travel experiences, which has led to a rise in demand for cruises that offer unique itineraries, cultural excursions, and authentic local experiences. Travelers are also placing a higher value on sustainability and eco-friendly practices within the cruise industry, influencing their choice of cruise lines and destinations.

Trends in the market: One notable trend in the UK Cruises market is the increasing popularity of expedition cruises to remote and off-the-beaten-path destinations. This trend is driven by a growing interest in adventure travel and a desire to explore untouched natural landscapes. Additionally, themed cruises catering to specific interests such as wellness, gastronomy, or music festivals are gaining traction among UK travelers, offering a niche experience onboard.

Local special circumstances: The United Kingdom's geographical location as an island nation surrounded by the Atlantic Ocean and the North Sea plays a significant role in shaping the Cruises market. British travelers have easy access to a variety of ports and embarkation points, making cruising a convenient and popular choice for both domestic and international voyages. The UK's rich maritime history also contributes to the allure of cruise travel among locals, with many cruise lines offering themed sailings that celebrate the country's seafaring heritage.

Underlying macroeconomic factors: The economic stability and disposable income levels in the United Kingdom play a crucial role in driving the growth of the Cruises market. As the economy strengthens and consumer confidence remains high, more UK residents are willing to invest in premium cruise experiences and luxury amenities. Additionally, favorable exchange rates and competitive pricing strategies by cruise operators have made cruising an attractive and affordable option for British travelers looking to explore new destinations.

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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