China cruise tourism industry expected to grow with a CAGR of 5.23%

Published on : Saturday, May 18, 2019

The China cruise tourism industry is predicted to grow with a CAGR of 5.23% during the forecast period. Cruise tourism is a new trend in the market and tourists are adopting this tourism trend enthusiastically to spend their leisure time.

 

The global cruise tourism industry is expected to grow at a faster rate, due to the growth in the number of high-net-worth individuals in both developed and developing countries.

 

These individuals look for a luxury lifestyle and like to spend on leisure travel.

 

In 2017, there were approximately 2.4 million cruise passengers in China. China cruise tourism is a growing industry with an increasing number of travelers going for cruise tourism and the presence of international market players like Royal Caribbean, Carnival Corporation & Plc., among others.

 

The overall tourism industry in China is booming due to the rise in the disposable income of consumers across the globe. The tourism industry is also growing in China due to promotional campaigns, tailored travel packs, and others. The government of China is taking various initiatives to boost the country’s cruise tourism, for increasing the overall revenue generated through the tourism industry.

 

Based on cruise type, the market is segmented as expedition cruise, river cruise, sea cruise, world cruise, and others. The key players in the China cruise tourism market are Carnival Corporation & Plc, Royal Caribbean, Norwegian Cruise Lines, Bohai Cruise, MSC Cruises, Genting Hong Kong, and others.

 

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