CRUISE TOURISM - Neha Tandon - Bog

Cruise Tourism is the fastest growing component of the leisure industry worldwide. It is one avenue that has dramatically boosted tourism economy of many regions such as the Caribbean, Alaska, Mediterranean, Antarctica etc. North America is the world's biggest cruise market with 55.1 % passenger source share. It is said that only 53% of the target North American Market (24% of whole U.S. population) have ever taken an ocean cruise. As per the World Tourism Organization, Cruise Tourism has not even reached maturity stage in the regions with greatest demand i.e., North America, Europe and Asia. Thus there is huge potential of cruise tourism in the world market. As per Cruise Market Watch records in the span of ten years the worldwide demand of cruises has increased more than double from 9.91million passengers to 20.60 million passengers from 2001 to the year 2011. As per Cruise Lines International Association 2013 report global passenger numbers are estimated at 21.3 million, with a 2014 forecast expected to reach 21.7 million passengers. For the year 2014 the total world-wide cruise industry is estimated at $37.1 billion which is a 2.3% increase compared to the year 2013.