Annual report looks at future of cruise industry
As China became the biggest source market for international travel, with some 82 million Chinese travellers spending $102 billion in 2012, will the cruise industry find its future in China?
According to the 2013 Cruise Industry News Annual Report, it is too early to tell as only a handful of ships are dedicated to the Chinese and Asian markets. But as the middle class grows larger, the pool of potential cruise travellers is there.
China and other emerging markets have strong growth potential, but the traditional cruise markets dominate and are expected to do so for the foreseeable future. Despite its promise, the challenges in China are many, including the fact that very few get paid vacations and travel has been closely regulated by the government. So, Cruise Industry News says, it is not only about tapping a new market, but about changing mindsets and customs.
The bet is on slow but steady growth in Asia, while the traditional markets continue to be the backbone of the industry. North America and Europe actually still have potential for growth in the supply of cruise passengers, Cruise Industry News argues.
Cruise Industry News
[photo courtesy Royal Caribbean International]