The Cruises market in United Arab Emirates has been experiencing significant growth and development in recent years.
Customer preferences: Customers in the United Arab Emirates are increasingly seeking unique and luxurious cruise experiences. They are looking for high-end amenities, personalized services, and exotic destinations. The demand for themed cruises, such as wellness or adventure cruises, is also on the rise as customers seek more tailored experiences.
Trends in the market: One of the notable trends in the Cruises market in the United Arab Emirates is the expansion of cruise lines and routes in the region. Major cruise companies are increasingly including the UAE in their itineraries, capitalizing on the country's strategic location as a gateway to the Middle East. Moreover, there is a growing interest in shorter cruises among both local residents and tourists, leading to an increase in weekend or mini cruises departing from the UAE.
Local special circumstances: The United Arab Emirates' unique geographical position as a hub between Europe, Asia, and Africa plays a crucial role in the development of its Cruises market. The country's world-class infrastructure, including state-of-the-art cruise terminals and ports, has positioned it as an attractive destination for cruise operators. Additionally, the UAE's efforts to promote tourism and diversify its economy have led to an increase in cruise tourism investments and initiatives.
Underlying macroeconomic factors: The growth of the Cruises market in the United Arab Emirates can be attributed to several underlying macroeconomic factors. The country's stable economy, increasing disposable income levels, and growing tourism sector have all contributed to the rising demand for cruise travel. Furthermore, the government's focus on enhancing the country's tourism infrastructure and promoting the UAE as a leading tourist destination has created a favorable environment for the development of the Cruises market.
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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