The Cruises market in Oman has been experiencing a notable growth in recent years, reflecting a global trend towards experiential travel and exploration.
Customer preferences: Travelers in Oman are increasingly seeking unique and immersive experiences, leading to a rising interest in cruise vacations. The desire for luxury, convenience, and the opportunity to visit multiple destinations in a single trip are key factors driving the demand for cruises among Omani consumers.
Trends in the market: In Oman, there is a noticeable shift towards smaller, more intimate cruise ships that can access remote and culturally rich ports that larger vessels cannot reach. This trend aligns with the growing preference for authentic and off-the-beaten-path experiences among travelers in the region. Additionally, themed cruises focusing on wellness, adventure, and cultural enrichment are gaining popularity in Oman, catering to the diverse interests of modern travelers.
Local special circumstances: Oman's strategic location at the crossroads of the Arabian Peninsula and the Indian Ocean positions it as a desirable cruise destination. The country's stunning coastline, picturesque fjords, and rich cultural heritage offer a unique setting for cruise itineraries, attracting both international tourists and domestic travelers. Furthermore, Oman's efforts to develop its cruise tourism infrastructure, including modernizing ports and promoting tourism initiatives, have contributed to the market's growth.
Underlying macroeconomic factors: The economic stability and diversification efforts in Oman have bolstered consumer confidence and disposable income, allowing more individuals to consider cruise vacations as a viable travel option. Moreover, the government's focus on promoting tourism as a key sector for economic growth has led to increased investment in the country's tourism infrastructure, further supporting the development of the cruises market in Oman.
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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