Cruise vs. Land Vacation Markets
Delivered July 30, 2019. Contributor: Kennedy H.
Goals
Using industry reports, studies, and consumer insights where possible, prove that the cruise-based vacation market is flat and not growing while the land-based vacation cateogry is and has been, so as to prove to clients that a new approach to target audiences might be necessary.
Early Findings
- According to the Cruise Lines International Association (CLIA) 2019 Cruise Trends & Industry Outlook report, approximately 30 million passengers are expected to go on a cruise in 2019, a growth from 28.2 million in 2018 and 26.7 million in 2017.
- Additionally, more than 80% of CLIA-Certified travel agents are expecting to see an increase in cruise sales in 2019, which coincides with the 18 new CLIA-member ocean ships that will debut in 2019 with the already-existing 272 ships on the sea.
- Reasons for consumers looking to go on a cruise include the ability to travel consciously, access locations that are otherwise unreachable, and reach achievements via experiences.
- Cruise Market Watch also has calculated that the global ocean cruise industry has seen a relatively stable annual growth rate of 6.63% each year from 1990-2020, and this is expected to continue in coming years. However, only 53% of the North American and 24% of the U.S. population have ever been on a cruise.
- Data from Booking.com, around 55% of consumers looking to vacation are focused on finding a sustainable travel choice. Another 73% want to go somewhere eco-friendly or with green accommodations, and 70% will base their travel bookings based on whether something is eco-friendly or not.
- Around 52% of global travelers say that they would rather travel by plane and/or car, while 52% will choose any mode of transportation so long as it is the fastest and 34% will select the cheapest option regardless of type.
Proprietary Research Available
Bolster your final deliverable with proprietary research from MarketLine for $495.00. This research includes data on the types of vacations consumers are taking and why, the ways in which customers book them, and data on threats and opportunities relevant to the vacation industry as a whole from a global perspective.
Additionally, there is research available from Azoth Analytics about vacation ownership that starts at $86.25 for a SWOT analysis of the vacation ownership market, $86.25 for an analysis and comparison of leading companies and in the industry, or $2400.00 for the whole report. Proposed next steps:
You need to be the project owner to select a next step.