The Cruises market in Kazakhstan is experiencing a gradual but steady growth in recent years.
Customer preferences: Kazakhstan's growing middle class is increasingly seeking unique travel experiences, leading to a rising interest in cruise vacations. Customers are attracted to the convenience and luxury offered by cruises, allowing them to visit multiple destinations in one trip while enjoying various onboard amenities.
Trends in the market: One notable trend in the Kazakhstan Cruises market is the increasing demand for river cruises. As Kazakhstan is landlocked, river cruises along the Volga River and other waterways in the region have become popular among local travelers. Additionally, themed cruises focusing on cultural experiences or adventure activities are gaining traction in the market.
Local special circumstances: Kazakhstan's geographical location presents unique opportunities and challenges for the cruise industry. While the country does not have direct access to the sea, its proximity to major water bodies like the Caspian Sea and the Black Sea allows for cruise operators to offer diverse itineraries that appeal to different customer segments. However, the lack of a well-developed cruise infrastructure within the country poses a challenge for the industry's growth.
Underlying macroeconomic factors: The improving economic conditions in Kazakhstan, coupled with a growing disposable income among the population, are driving the expansion of the Cruises market. As more Kazakhstani consumers prioritize experiences and travel, the demand for cruises is expected to continue rising. Additionally, government initiatives to promote tourism and enhance transportation infrastructure are further supporting the development of the cruise industry in the country.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
