Question

how the limitization of cruise ship increases the market of a place

Answer 1

The cruise industry is the fastest growing and one of the most profitable segments of the worldwide travel and tourism market. The growth of the industry can be measured in different ways and cruise passenger numbers are usually cited as a measure of demand

The dynamic growth that the cruise industry has been experiencing over a period of more than 30 years, mainly driven by demand from North America, is unparalleled in the tourism sector.

In the early 1970’s, when the first modern cruises began operating in the Caribbean with mainly American passengers, an estimated 500,000 people took a cruise. In the 1990s, the cruise phenomenon reached the United Kingdom and the rest of Europe, and subsequently, the Asia-Pacific region and other parts of the world.

Since then the cruise industry has experienced an average annual passenger growth rate of around 7.4%, and the number of worldwide cruise passengers has risen to more than 15 million (in 2006).

The number of worldwide cruise passengers is expected to have reached 16.2 million in 2008 [statistics to be released in May 2009] and looking forward to 2011, that number is projected to reach 18 to 20 million. Even if growth slows down, it is still likely the 30 million mark will be reached in 2020 or shortly thereafter.

Meanwhile, the process of globalization of the American cruise experience continues. Then much of the growth of the industry is due to the development of demand from new sources, in particular the European market. As shown in next chart, the source markets of Europe accounted for nearly a quarter (22%) of the 15.15 million global passengers in 2006.

Global Industry

It is expected that the cruise industry continues growing regardless of being perceived as a direct contender of stay-over tourism. Cruises have become destinations in themselves and, viewed in this way the cruise sector is between the top ten destinations both in number of arrivals and receipts.

The participation of the cruise sector in the international worldwide tourism corresponds to 1.6% of the total tourists and 1.9% of the total number of nights. Revenue of cruise corporations represents the 3% of the total international tourism receipts

Even though its relative significance in the tourism industry is still rather modest, the number of berths on offer (representing the 0.6% of the total supply of beds in hotels and similar accommodations) has increased in more than 500% between 1980 and 2007. Currently, there are not less than 38 cruise liners scheduled to join the global fleet up to 2012, representing investments of more than USD 21.5 billion