The global cruise industry has been growing over the years and has made a strong comeback after the recession. The industry has seen significant growth in the number of passengers opting for cruise vacations. Cruising has expanded in recent decades from serving only the very rich to providing activities and entertainment options even for the middle-class vacationers. The cruise has also paved its way to younger generation rather than being populated only by aged people. The modern cruise industry has reacted to wide-ranging market and companies are coming up with innovative designs of ships, increased ship lengths, variety of destinations, new on-board and onshore activities and enhanced choice of cruise holidays that matches everyone’s expectations. A growing cruise industry has resulted in growth of employment also.
The cruise industry has begun to find its market in the developing nations of Asia and Africa and countries like Australia and New Zealand are showing tremendous growth. China has also stepped in the competition with an increase in the passengers visiting Japan and Korea. North America is leading the industry followed by Europe.
The key factors driving the growth of the cruise market are decreasing unemployment, growing economic growth, increasing urbanization and variety of destinations. Some of the noteworthy trends and developments of this industry are global shifting of passenger load, creating difference through branding, convenience of on-demand workspace and technological advancements. However, the expansion of cruise industry can be affected by effect of global economic condition, unpleasant incidents at sea, environmental issues and piracy acts.
The report “Global Cruise Industry” provides an in-depth analysis of the market, with a focus on regional markets. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Carnival Corporation, Royal Caribbean Cruises and Norwegian Cruise Line are being profiled.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables.