The Cruises market in Ireland has been experiencing a notable increase in interest and demand among consumers.
Customer preferences: Irish consumers are increasingly drawn to the idea of cruise vacations due to the convenience and all-inclusive nature they offer. The opportunity to visit multiple destinations in one trip, combined with on-board amenities and entertainment options, has become particularly appealing to travelers in Ireland.
Trends in the market: One significant trend in the Irish Cruises market is the growing popularity of expedition cruises to unique and off-the-beaten-path destinations. Irish travelers are showing a preference for immersive experiences and adventure-focused itineraries, seeking to explore lesser-known locations while enjoying the comfort and luxury of a cruise ship.
Local special circumstances: The geographical location of Ireland, surrounded by the Atlantic Ocean and the Irish Sea, plays a crucial role in shaping the Cruises market in the country. The proximity to various European ports and the accessibility to popular cruise routes contribute to the increasing availability of cruise options for Irish travelers. Additionally, the rich maritime history and culture in Ireland add to the allure of cruise vacations for local passengers.
Underlying macroeconomic factors: The improving economic conditions in Ireland have also had a positive impact on the Cruises market. With rising disposable incomes and a growing middle class, more Irish consumers are able to afford cruise holidays. The stability of the economy and the strong performance of the tourism sector further support the growth of the cruise industry in Ireland.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of cruises.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
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