Cruise tourism is a luxury type of travel that involves an all-inclusive vacation on a cruise ship for a minimum of 48 hours with a planned itinerary that includes stops at various ports or towns. Cruise ships are among the world's largest by interior volume, larger than many cargo ships and may carry thousands of passengers on a single trip. Currently, cruise tourism includes a wide range of amenities, significantly improving traveler comfort and enjoyment when traveling by sea. Cruise tourism comes in association with marine resorts, competing with conventionally marketed destinations and offering tourists an alternative form of holiday, which is boosting the market share of the cruise tourism industry.
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Market Dynamics
The tremendous growth in the cruise industry in developing regions is boosting the market share of the cruise tourism industry. Rising disposable income creates growth opportunities for cruise tourism to grow in the forecast period. Thus, when the world struggled to fight the coronavirus, the cruise industry managed to revive its market, thus creating huge growth opportunities for cruise tourism to grow in the forecast period.
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Segment Analysis
The global cruise tourism market can be segmented on passenger strength, cruise capacity, cruise type and region.River cruising is an extremely relaxing, immersive and thoroughly enjoyable form of travel where the traveler can enjoy the scenery along the banks, which is expected to impact the market over the forecast period positively. River cruising is an extremely relaxing, immersive and enjoyable form of travel where the traveler can enjoy the scenery along the waterways, including the Seine, Douro, Danube, Rhine, Volga and Yangtze. A river cruise offers various benefits.
Competitive Landscape
The cruise tourism market is highly competitive with the presence of local and global companies. Some major companies contributing to the market's growth are Carnival Corporation & PLC, Disney Cruise Line, MSC Cruises, Norwegian Cruise Line Holdings Ltd, Royal Caribbean International, AIDA Cruises, Marella Cruises, Saga Cruises, Mediterranean Shipping Company (MSC), Viking Cruises and others.
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