China is emerging as one of the largest cruise markets in the world, as its cruise industry is currently booming and is expected to grow further in the near future. China has been dominating the passenger share of Asia’s cruise market and it accounted for more than 70% of the region’s passengers in 2018. With an estimated 8 to 10 million customers per year, China is expected to emerge as the world’s largest cruise market in the days to come.
In China, cruise travel has been witnessing increasing popularity in both metropolitan and smaller cities. This has prompted international cruise operators to recognize China as a potential market for growth and so, step up their operations to increase their foothold in the country. Along with the increasing participation by global players, supports provided by the government will also give a major boost to cruise tourism in China.
Cruise tourism is a new trend in the tourism industry and therefore, it is expected to grow at a faster rate in the coming days. The China Cruise Tourism market is also expected to benefit from these developments. In 2017, the number of cruise passengers in China was 2.4 million. This number is going to increase rapidly.
The tourism industry in China including cruise tourism is flourishing and this can be mainly attributed to the rising disposable income of consumers and the growth in the number of high-net-worth individuals in both developed and developing economies.
The China Cruise Tourism market is also receiving a major boost in the form of various government initiatives taken to boost cruise tourism, promotional campaigns, and tailored travel packs. All these will eventually result in rapid increase in the number of cruise travellers, as well as the overall revenue generated by the tourism industry in general and cruise tourism in particular.
Considering the growth potentials of the China Cruise Tourism industry, many local as well as international cruise companies are expanding shopping facilities and restaurants on board ships, in order to better meet the needs of the travellers.
China has also been witnessing a spurt in the construction of various international homeports which have reduced the overall travel time, while providing more convenient and better access to the mainland. However, lack of diversified destinations for cruise travel may act as a hindrance and slow down the growth of the China Cruise Tourism market to some extent.
The key players in the China Cruise Tourism market are, Carnival Corporation & Plc, Norwegian Cruise Lines, Bohai Cruise, Royal Caribbean, MSC Cruises, Genting Hong Kong, and others. The key players operating in the China Cruise Tourism market are undertaking various strategies like partnerships, joint ventures, and mergers & acquisitions, in order to generate more revenue and expand their customer base. This is going to impact the market positively in the coming days.