Rising consumer income levels, increasing popularity of tour packages, favorable pricing schemes, convenient booking processes, and introduction of technologically advanced cruise liners are major factors driving the demand for vacation cruises across the world.
San Jose, California (PRWEB) September 11, 2008 -- Cruising sector has emerged as one of the brightest spots of the entire tourism and travel industry, owing to expanding customer participation, particularly from North America and Europe. Accounting for less than 5% share of the overall travel market, cruise industry is the fastest growing segment of the international leisure industry.
Rising levels of consumer incomes, increased popularity of leisure travel, growing consumer confidence in travel packages, attractive pricing, and convenient online booking processes are major growth drivers for vacation cruises industry. Growing popularity of ship-based travels as against flying, intense marketing campaigns, pricing incentives, and new tour programs are among other factors promoting growth in the market. Low penetration level translates into increased opportunities for market participants. For instance, a mere 15% of the targeted population has opted for vacation cruises in the US, with the remaining population yet to experience vacation cruising. First time cruisers are being attracted with impressive pricing schemes and efficient services.
Cruise liners, on their part, are making efforts to provide affordable traveling experience by expanding operations to newer regions, allowing customers to avail liners from any seaport. New capacity additions planned by major cruising companies are expected to benefit the market in the long run. Introduction of new ships with advanced technologies and better sailing experience are also becoming an attraction for customers, while ensuring reduced operational costs for the operators.
With travel agents focusing efforts on promoting packaged tours and adventurous expeditions, particularly for high-end customers, the industry is set to generate higher revenues. Additional touring destinations, offer of recreational and adventurous activities such as scuba diving, snorkeling, glacier climbing, and biking adventures, among others, are some of the strategies adopted by market participants to attract customers, particularly youngsters. Packages are gaining popularity, particularly among middle-aged customers. As these packages include all kinds of services ranging from accommodation to transportation, customers are increasingly opting for programs that are suited to individual touring interests and budgets. A noteworthy trend in the cruising sector is the rising popularity of adventurous expeditions, particularly among baby boomer generation. Although expensive, cruise voyages to distant locations such as the polar region have caught the fancy of the rich and famous.
Terrorism is a major threat facing the tourism industry, and it also has significant impact on the vacation cruise sector. Other issues facing the cruise sector include complexities in booking procedure, and limited seaports for customer pickup. Also, different income levels and varied traveling plans of European and American customers act as hurdles for the industry.
The report titled "Vacation Cruises: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a rudimentary prelude to the Vacation Cruises industry. The closely summarized global market discussion offers a broad, macro level picture of the trends, challenges, market structure/basics, and recent mergers, acquisitions, and strategic corporate developments witnessed by the industry. The report includes 23 information rich tables, presenting research findings and analytical projections, which season the entire discussion aimed at capturing the prevalent scenario with unrivalled precision. The report offers a synopsized discussion on markets such as the United States, Canada, Japan, and Europe, among others. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 115 companies worldwide.
For more details about this research report, please visit
http://www.strategyr.com/Vacation_Cruises_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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