Cruises - Zambia | Statista Market Forecast

By 2024, the revenue in the Cruises market of Zambia is projected to reach US$739.60k.
The revenue is assumed to exhibit an annual growth rate (CAGR 2024-2029) of 7.17%, resulting in a projected market volume of US$1.04m by 2029.
In addition, the number of users in the Cruises market is expected to amount to 2.02k users by 2029.
The user penetration is expected to remain constant at 0.01% in both 2024 and 2029.
The average revenue per user (ARPU) is expected to be US$619.50 in the same period.
Furthermore, it is projected that 18% 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 (US$25bn) in the Cruises market in 2024.
Zambia's lack of direct access to the sea limits the growth of the cruise market in the country.

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.

For further information on the data displayed, refer to the info button right next to each box.

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 Zambia has been steadily developing over the past few years, with an increasing interest in luxury travel experiences among Zambian consumers.

Customer preferences: Zambian consumers are showing a growing preference for unique travel experiences that offer luxury and relaxation. This shift in consumer behavior is driving the demand for cruise vacations, as they provide an all-in-one package of accommodation, dining, entertainment, and sightseeing.

Trends in the market: In Zambia, there is a noticeable trend towards experiential travel, where consumers are seeking out new and exciting ways to explore the world. This trend is reflected in the increasing popularity of cruise vacations, which offer a mix of adventure, luxury, and cultural immersion. As more cruise lines expand their offerings to include destinations in Africa, including Zambia, the market is expected to continue growing.

Local special circumstances: Zambia's unique geography and proximity to natural wonders such as Victoria Falls make it an attractive destination for cruise operators looking to offer unforgettable experiences to their customers. The country's rich wildlife, diverse cultures, and stunning landscapes provide a perfect backdrop for cruise itineraries that cater to the growing demand for adventure and exploration.

Underlying macroeconomic factors: The improving economic conditions in Zambia, coupled with a rising middle class with disposable income, are contributing to the growth of the Cruises market. As more Zambians have the financial means to afford luxury travel experiences, the demand for cruises is expected to increase. Additionally, the government's efforts to promote tourism and improve infrastructure are making Zambia a more accessible and appealing destination for cruise operators, further fueling market growth.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.