The Caribbean Cruise market is estimated to reach US$ 1.12 Billion in 2022. As per the report, sales are forecast to increase at a robust 3% CAGR, with the market valuation reaching US$ 1.51 Billion by 2032. Total sales in the Caribbean Cruise market represent 13% to 16% of the global cruising market.
| Attribute | Details |
|---|---|
| Caribbean Cruising Market Estimated Size (2022) | US$ 1.12 Billion |
| Caribbean Cruising Market Projected Size (2032) | US$ 1.51 Billion |
| Caribbean Cruising Market Value-based CAGR (2022 to 2032) | 3% |
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The Caribbean is referred to as the region engulfed in the scenic beauty of the Caribbean Sea. It is a large chain of islands that includes regions having great value in the tourism sector. Bahamas, Bermuda, Eastern Caribbean, Florida, Greater Antilles, Gulf of Mexico, Southern Caribbean, and Western Caribbean fall under the Caribbean region. The eastern Caribbean consists of various islands such as St. Thomas, the Great Turk, and St. Maarten which are famous for their world-class beaches, sting rays, and never-ending water activities.
On the other hand, the western Caribbean has its historic importance and natural beauty. Mayan ruins offering the eco-adventures, the benevolent atmosphere of Jamaica, the profuse wild essence of southern Mexico, underground caves on the Island of Cozumel, and untouched coral reefs of Belize and Roatan are what interest travelers. Southern Caribbean is popular for its culture and colonial past including the exquisite landscape of Dominica, the far-flung isles of Aruba, Curacao, and Bonaire. This vast spectrum of experiences makes the Caribbean and cruising a perfect match.
The coronavirus pandemic had a great impact on the Caribbean cruise market which caused the Caribbean cruises to be anchored at the ports. There was a major decline in the economy generated by the cruises which contributed a major part of the Caribbean economy. Gradually the situation is getting under control. This has caused travelers to come out of their houses and monotonous schedule. Caribbean being the top tourist destination, the cruising industry is also getting back to normal as more and more people are opting for Caribbean cruise journeys. The Caribbean Cruise industry is expected to grow at a rapid rate after the conditions have normalized and people want to get out of their homes to explore and satisfy their hunger for travel.
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Royal Caribbean announced its new 2023 to 2024 cruises from Singapore on the cruise named Spectrum of the Seas. They are presenting a wide range of packages from 5- to 12-night sailings to Japan, Thailand, Vietnam Malaysia, & more. Spectrum will also have an option of short cruises to Thailand and Malaysia. The spectrum includes two 12-night cruises which mean that the travellers can visit 7 destinations in only one sailing. In addition, Royal Caribbean will be offering 3-4 days short sailings to Phuket, Thailand and Penang, Malaysia.
The spectrum of the Seas offers a number of adventure activities on board which makes it different from other quantum-class cruise ships. It has the first Skypad on board which provides a virtual bungee trampoline experience. The amazing suite enclave on board also includes a royal suite class star which gives options to the travellers to relax by the sea or under the sky specially positioned in the front area of the cruise. Furthermore, they also provide 19 different options of world-class cuisine to make the traveller's experience out of this world.
Several cruise lines have started to accept the results of the Covid test performed at the homes of unvaccinated passengers. Starting September 5, 2022, Royal Caribbean will start welcoming vaccinated as well as unvaccinated passengers of all ages on board. Along with royal Caribbean, Celebrity and Carnival cruise lines have also agreed to support these changes in the protocols.
This new rule will not be applicable for the cruises that visit Bermuda and Canada as these regions still have strict Covid regulations. The passengers will just have to submit a photo of their self-performed test to the cruise lines before getting on board. This industry-wide trend falls under the Centre for Disease Control and Prevention (CDC) which has recently ended the pandemic for cruise travel. This will ease the difficulties on the traveler's end and make the process go cruise booking hassle-free.
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Participants in the USA Caribbean cruise market may offer a wide range of itineraries, introduce new locations, and give additional opportunities for visitors to taste our distinctive international flavor by bringing more ships to the USA
The biggest brands are ready to have passed Carnival Cruise Line due to its big ships and the fact that Carnival likewise reduced the fleet during the pandemic. For instance, the Royal Caribbean brand is expected to have a higher annual passenger capacity in the North American market than Carnival, which is expected to be slightly under 3 million passengers, according to the 2021 Cruise Industry News Annual Report.
Moreover, Silversea is likely to be the largest operator among the ultra-luxury brands, followed by Regent Seven Seas, Crystal, Seabourn, and Windstar. Viking Ocean will dominate the luxury sector.
In June 2021, Adventure of the Seas finished its first home porting ceremony at Grand Bahama Island, with over 1,000 passengers, government representatives, and important business executives welcomed by Royal Caribbean International.
The pandemic had a significant impact on the Bahamas' economy, although Grand Bahamas' proximity to South Florida helps it maintain its status as a well-liked tourist destination as travel restrictions are gradually relaxed. The cruise ports in Nassau and Freeport, which have historically failed in terms of cruise guest engagement and spending, have also been awarded concessions to be redeveloped by private enterprises.
The waterfront in Nassau was renovated for $250 million by Global Ports Holdings and a group of Bahamian investors. In Freeport, a $195 million contract between Royal Caribbean Cruises Ltd. and Mexico's ITM Group has been reached to enlarge the harbor and renovate the Grand Lucayan hotel.
December to April is most suitable for Caribbean Cruising
You can cruise the Caribbean all year as there are several cruising options available throughout the year. However, the best time for experiencing a Caribbean cruise is from December to April. In this span, the weather is sunny and dry and the skies are often clear on most days. The idea of warm temperatures and tranquil waters lasts throughout the spring and winter, making it the most suitable condition for cruise travel in the Caribbean.
Government bodies are loosening the pandemic regulations for cruises
The Centre for Disease Control and Prevention [CDC] ceases the reporting of Covid 19 cases on board. According to a recent study by the CDC, 95% of the crew and 90% of the passengers travelling on board were fully vaccinated. They will no longer show the current state of Covid 19 transmission by their colour-coded chart system while cruising as the situation is well under control according to the officials. CDC has transferred the authority to cruise lines making the cruise lines responsible to look after the safety of their passengers. The travellers on board will have to contact their cruise lines for the Covid 19 status and related protocols. This has eased up the travelling procedure and released panic among travellers.
Online Booking is More Preferred by Tourists
Cruising is now more popular with all those who choose to avoid the hassle, expense, and stressful process of booking a plane ticket in person. Over the course of this decade, online booking has expanded that convenience. Online booking and payment is also a fast and easy method for the traveler. Connectivity via mobile devices has enhanced the construction of safety for cruise travelers and delivered quicker access to tracking information. Travelers now use online travel research websites to compare details on destinations, accommodations, restaurants, and so forth.
The popularity of Cruise Tourism among Seniors Will Remain High
The average Caribbean tourist age is about 43 years. The most common age group is then 45 to 54 (29%), followed by 55 to 64 (25%), and 64 and above (15%). Cruises are also accessibility-friendly and offer seniors that have mobility issues the opportunity to enjoy tourist places without having to rely on external help for their tour.
The amount of youngsters visiting the Caribbean is quite less compared to the seniors. The concentration of middle age travelers ranging from 35-44 years is about 15%, followed by kids under 18 years and people in the age group of 25-34 years, both of these age groups comprise each. The least concentration of travelers is between the age group of 18-24 years contributing nearly 4% of the total travelers.
Bahamas accounts for the most number of cruise arrivals
The Caribbean is a place of amazing culture, a range of adventure activities, and great historical importance which makes the whole of the Caribbean region an astonishing destination for tourism. However, the Bahamas is a place that reports the most number of cruise arrivals accounting most number of passengers followed by the USA Virgin Islands, St. Maarten, the Cayman Islands, and Jamaica. These regions are the top 5 destinations in the Caribbean that report the most number of cruises.
Leading players operating in the Caribbean cruising market are globally in the market and are focusing on improving their offerings by providing discounts and packages in order to gain a competitive edge in the market. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Billion for Value |
| Key Region Covered | The Caribbean |
| Key Countries Covered | United States, France, United Kingdom, Venezuela, Kingdom of the Netherlands |
| Key Segments Covered | Cruise destinations, Booking Channel, Tourist Type, Tour Type, Age Group, and Region. |
| Key Companies Profiled | Royal Caribbean; Princess Cruises; MSC Cruises Company; Silversea Cruises; Holland America Line; Star Clippers; Carnival Cruises; Celebrity Cruises; Carnival Cruise Line |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Caribbean Cruise market is expected to reach a valuation of US$ 1.12 Billion in 2022.
Government initiatives post Covid-19 and cruising packages are increasing the number of travelers by cruise.
Leading players in the Caribbean cruise market are Royal Caribbean, MSC Cruises Company, Silversea Cruises, Holland America Line, Star Clippers, Carnival Cruise Line, Princess Cruises, and Celebrity Cruises.
1. Executive Summary | Caribbean Cruises Market
1.1. Caribbean Cruising Market Outlook
1.1.1. Who Is Travelling?
1.1.2. How Much Do They Spend?
1.1.3. Direct Contribution of Tourism To GDP
1.1.4. Direct Contribution of Tourism To Employment
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1.1. Total Spending (US$ Billion) and Forecast (2022 to 2032)
2.1.2. Number of Cruising Tourists and Forecast (2022 to 2032)
2.1.3. Total Spending Y-o-Y Growth Projections (2022 to 2032)
3. Market Overview
3.1. Popular Activities on cruises
3.1.1. Land-Based Activities
3.1.2. Catamaran Cruises
3.1.3. Coffee Cruises
3.1.4. Day Cruises
3.1.5. Dinner Cruises
3.1.6. Lunch Cruises
3.1.7. Multi-day Cruises
3.1.8. Night Cruises
3.1.9. Sightseeing Cruises
3.1.10. Sunset Cruises
3.2. Popular Destinations
3.3. Developments and Key Trends
3.3.1. Government and Cruise providers taking combined efforts for the development of sustainable fuel
3.3.2. Addition of new routes in the sailings along with exciting activities
3.4. Challenges in Caribbean Cruise Market
3.4.1. Climate Change & Natural Disasters Brings A New Threat To Cruising Routes
3.4.2. Impact of Covid-19 on
4. Categorizing of Caribbean Cruise Market 2021
4.1. Introduction/ Key Findings
4.2. Current Market Analysis By Tourist Type (% of Demand)
4.2.1. Domestic
4.2.2. International
4.3. Current Market Analysis By Tour Type (% of Demand)
4.3.1. Independent Traveller
4.3.2. Tour Group
4.3.3. Package Traveller
4.4. Current Market Analysis By Age Group (% of Demand)
4.4.1. 15-25 Years
4.4.2. 26-35 Years
4.4.3. 36-45 Years
4.4.4. 46-55 Years
4.4.5. 56-65 Years
4.4.6. 66-75 Years
4.5. Current Market Analysis By Booking Channel (% of Demand)
4.5.1. Phone Booking
4.5.2. Online Booking
4.5.3. In-Person Booking
4.6. Current Market Analysis By Destination (% of Demand)
4.6.1. Eastern Caribbean
4.6.2. Western Caribbean
4.6.3. Southern Caribbean
4.6.4. Bahamas
4.6.5. Others
4.7. Key Findings, By Each Category
5. Competition Analysis
5.1. Competition Dashboard
5.2. Competition Benchmarking
5.3. Competition In the Cruising market
5.3.1. Royal Caribbean
5.3.2. Princess Cruises
5.3.3. MSC Cruises Company
5.3.4. Silversea Cruises
5.3.5. Holland America Line
5.3.6. Star Clippers
5.3.7. Carnival Cruise Line
5.3.8. Carnival Cruises
5.3.9. Celebrity Cruises
5.3.10. Other Players (As Per Request)
6. Social Media Sentimental Analysis
6.1. Social Media Platforms Preferred
6.1.1. Facebook
6.1.2. YouTube
6.1.3. Instagram
6.1.4. Twitter
6.1.5. LinkedIn
6.1.6. Pinterest
6.1.7. Google+
6.1.8. Others
6.2. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions
6.3. Trending #Hashtags
6.4. Social Media Platform Mentions (% of Total Mentions)
6.5. Region-Wise Social Media Mentions (% of Total Mentions)
6.6. Trending Subject Titles
7. Assumptions and Acronyms Used
8. Research Methodology
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Caribbean Cruises Market
