As per a report by Future Market Insights (FMI), the global cruise tourism market is likely to be appraised at USD 17.4 billion by 2032, up from USD 5.3 billion in 2022, advancing at a CAGR of 11.97% during the forecast period.
The launch of novel inventive ships with technological advancements and numerous onboard activities for the travellers to enjoy is one of the primary factors driving the demand for cruise tourism. Cruise tourism implies to holidays that are partly or solely based on a cruise ship. Cruise tourism lets tourists experience a multi-centre holiday, wherein the tourists spend quality time at several destinations during their entire trip.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Cruise Tourism is a competitive market with the presence of various global and regional players in the market. The major players are Carnival Corporation & PLC, Disney Cruise Line, MSC Cruises, NCL Corporation, and Royal Caribbean International. Other key players in the market include AIDA Cruises, Celebrity Cruises, Cunard Line, Marella Cruises, and Saga Cruises.
In January 2019, Essel Group’s cruise business, Zen Cruises, has announced that its cruise line, Jalesh Cruises, will begin its first sail in April from Mumbai. The multi-destination cruise line will offer entertainment shows, adventure activities, and exotic authentic cuisines packed with international hospitality on the high sea.