Albany, NY -- (ReleaseWire) -- 06/05/2014 -- Global Cruise Market Report: 2014 Edition
Cruise industry is the fastest growing segment of the travel industry. It caters to a diverse demographic mix. A cruise ship or cruise liner is a passenger ship used for pleasure voyages, where the voyage itself and the ship's amenities are a part of the experience, as well as the different destinations along the way. Cruise lines are differentiated according to the market niche that they fill. The global cruise industry is marked by ever-increasing choice of cruise holidays, the diversity of destinations and the exceptional service levels. The market also offers a wide variety of job opportunities to people from all backgrounds. Cruising is most popular among the older generation of age 50+.
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A consistent increase has been observed in the global cruise industry over the past couple of years. The largest cruise market is North America, followed by Europe. In terms of growth, the number of passengers is increasing more rapidly in Europe in comparison with North America. Germany is the fastest growing cruise market in the world. Major cruising companies are increasingly setting their sights on emerging markets.
The key factors driving growth of the global cruise industry include rising global economy, increasing employed population and accelerating travel agent initiative. Some of the noteworthy trends and developments of this industry include enhanced technology, revitalization of cruise lines, new innovations, wide entertainment options on board, new cruising locations and increasing first time passengers. However, the growth of cruise industry is hindered by the high barriers to entry and exit, adverse economic conditions, acts of piracy and cruise ship accidents.
This report offers a comprehensive analysis of the worldwide cruise market, along with an in-depth study of the regional markets including North America, Europe, Australia and New Zealand. The competition in the global cruise market is intense with few large players viz. Carnival Corporation, Royal Caribbean Cruises and Norwegian Cruise Lines. The competitive landscape of the global cruise markets, along with the company profiles of the leading players are also discussed in detail.
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By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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