PUBLISHER: KBV Research | PRODUCT CODE: 1484362
PUBLISHER: KBV Research | PRODUCT CODE: 1484362
LAMEA Cruise Market Size, Share & Trends Analysis Report By Type (Ocean Cruises and River Cruises), By Country and Growth Forecast, 2024 - 2031
The Latin America, Middle East and Africa Cruise Market would witness market growth of 12.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Cruise Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $480.6 Million by 2031. The Argentina market is registering a CAGR of 13.1% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 12% during (2024 - 2031).
Economic factors significantly influence the market, shaping consumer behavior, industry performance, and market dynamics. Discretionary spending patterns are the primary economic factors impacting the market. During periods of economic prosperity, when consumer confidence is high and disposable incomes are robust, individuals are more likely to allocate a portion of their budget towards leisure activities such as travel, including cruises.
Cruise lines carefully balance supply and demand dynamics, implement effective revenue management strategies, and differentiate their offerings to mitigate the impact of overcapacity and pricing pressures. This may involve focusing on niche markets, developing unique onboard experiences, enhancing brand loyalty, and diversifying revenue streams beyond ticket sales. Moreover, collaboration among industry stakeholders, including cruise lines, travel agencies, and destination partners, is essential to address overcapacity issues and foster sustainable growth in the market. By proactively managing capacity, optimizing pricing strategies, and delivering value-added experiences, cruise operators can navigate pricing pressures and maintain a competitive edge in a challenging market environment.
The Argentine government has implemented policies to promote cruise tourism, including offering incentives to cruise companies to include Argentine ports in their itineraries. As a result, Argentina has become an increasingly popular cruise destination, particularly for cruises exploring the country's southern regions, such as Patagonia and Tierra del Fuego. Thus, all the aforementioned factors are expected to drive the regional market's growth.
Based on Type, the market is segmented into Ocean Cruises and River Cruises. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- Carnival Corporation & plc.
- Royal Caribbean Cruises Ltd.
- MSC Cruises S.A. (MSC Mediterranean Shipping Company SA)
- Norwegian Cruise Line Holdings Ltd.
- Disney Cruise Line (The Walt Disney Company)
- Cruiseaway (Dreamlines GmbH)
- Island Queen Cruises
- American Cruise Lines
- The Independent Traveler, Inc. (Tripadvisor Inc.)
- Viking River Cruises Inc.
LAMEA Cruise Market Report Segmentation
By Type
- Ocean Cruises
- River Cruises
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1LAMEA Cruise Market, by Type
- 1.4.2LAMEA Cruise Market, by Country
- 1.5Methodology for the research
Chapter 2.Market at a Glance
- 2.1Key Highlights
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.1.1Overview
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Strategies Deployed in Cruise Market
Chapter 5.LAMEA Cruise Market by Type
- 5.1LAMEA Ocean Cruises Market by Country
- 5.2LAMEA River Cruises Market by Country
Chapter 6.LAMEA Cruise Market by Country
- 6.1Brazil Cruise Market
- 6.1.1Brazil Cruise Market by Type
- 6.2Argentina Cruise Market
- 6.2.1Argentina Cruise Market by Type
- 6.3UAE Cruise Market
- 6.3.1UAE Cruise Market by Type
- 6.4Saudi Arabia Cruise Market
- 6.4.1Saudi Arabia Cruise Market by Type
- 6.5South Africa Cruise Market
- 6.5.1South Africa Cruise Market by Type
- 6.6Nigeria Cruise Market
- 6.6.1Nigeria Cruise Market by Type
- 6.7Rest of LAMEA Cruise Market
- 6.7.1Rest of LAMEA Cruise Market by Type
Chapter 7.Company Profiles
- 7.1Carnival Corporation & plc.
- 7.1.1Company Overview
- 7.1.2Financial Analysis
- 7.1.3Segmental and Regional Analysis
- 7.1.4SWOT Analysis
- 7.2Royal Caribbean Cruises Ltd.
- 7.2.1Company Overview
- 7.2.2Financial Analysis
- 7.2.3Regional Analysis
- 7.2.4Recent strategies and developments:
- 7.2.4.1Partnerships, Collaborations, and Agreements:
- 7.2.4.2Acquisition and Mergers:
- 7.2.5SWOT Analysis
- 7.3MSC Cruises S.A. (MSC Mediterranean Shipping Company SA)
- 7.3.1Company Overview
- 7.3.2Recent strategies and developments:
- 7.3.2.1Partnerships, Collaborations, and Agreements:
- 7.4Norwegian Cruise Line Holdings Ltd.
- 7.4.1Company Overview
- 7.4.2Financial Analysis
- 7.4.3Regional Analysis
- 7.4.4SWOT Analysis
- 7.5Disney Cruise Line (The Walt Disney Company)
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental and Regional Analysis
- 7.5.4Recent strategies and developments:
- 7.5.4.1Partnerships, Collaborations, and Agreements:
- 7.5.5SWOT Analysis
- 7.6Cruiseaway (Dreamlines GmbH)
- 7.6.1Company Overview
- 7.7Island Queen Cruises
- 7.7.1Company Overview
- 7.8American Cruise Lines
- 7.8.1Company Overview
- 7.9The Independent Traveler, Inc. (Tripadvisor Inc.)
- 7.9.1Company Overview
- 7.9.2Financial Analysis
- 7.9.3Segmental and Regional Analysis
- 7.10.Viking River Cruises Inc.
- 7.10.1Company Overview
LIST OF TABLES
- TABLE 1LAMEA Cruise Market, 2020 - 2023, USD Million
- TABLE 2LAMEA Cruise Market, 2024 - 2031, USD Million
- TABLE 3LAMEA Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 4LAMEA Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 5LAMEA Ocean Cruises Market by Country, 2020 - 2023, USD Million
- TABLE 6LAMEA Ocean Cruises Market by Country, 2024 - 2031, USD Million
- TABLE 7LAMEA River Cruises Market by Country, 2020 - 2023, USD Million
- TABLE 8LAMEA River Cruises Market by Country, 2024 - 2031, USD Million
- TABLE 9LAMEA Cruise Market by Country, 2020 - 2023, USD Million
- TABLE 10LAMEA Cruise Market by Country, 2024 - 2031, USD Million
- TABLE 11Brazil Cruise Market, 2020 - 2023, USD Million
- TABLE 12Brazil Cruise Market, 2024 - 2031, USD Million
- TABLE 13Brazil Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 14Brazil Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 15Argentina Cruise Market, 2020 - 2023, USD Million
- TABLE 16Argentina Cruise Market, 2024 - 2031, USD Million
- TABLE 17Argentina Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 18Argentina Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 19UAE Cruise Market, 2020 - 2023, USD Million
- TABLE 20UAE Cruise Market, 2024 - 2031, USD Million
- TABLE 21UAE Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 22UAE Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 23Saudi Arabia Cruise Market, 2020 - 2023, USD Million
- TABLE 24Saudi Arabia Cruise Market, 2024 - 2031, USD Million
- TABLE 25Saudi Arabia Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 26Saudi Arabia Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 27South Africa Cruise Market, 2020 - 2023, USD Million
- TABLE 28South Africa Cruise Market, 2024 - 2031, USD Million
- TABLE 29South Africa Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 30South Africa Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 31Nigeria Cruise Market, 2020 - 2023, USD Million
- TABLE 32Nigeria Cruise Market, 2024 - 2031, USD Million
- TABLE 33Nigeria Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 34Nigeria Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 35Rest of LAMEA Cruise Market, 2020 - 2023, USD Million
- TABLE 36Rest of LAMEA Cruise Market, 2024 - 2031, USD Million
- TABLE 37Rest of LAMEA Cruise Market by Type, 2020 - 2023, USD Million
- TABLE 38Rest of LAMEA Cruise Market by Type, 2024 - 2031, USD Million
- TABLE 39Key Information - Carnival Corporation & plc.
- TABLE 40Key Information - Royal Caribbean Cruises Ltd.
- TABLE 41Key Information - MSC Cruises S.A.
- TABLE 42Key Information - Norwegian Cruise Line Holdings Ltd.
- TABLE 43Key Information - Disney Cruise Line
- TABLE 44Key Information - Cruiseaway
- TABLE 45Key Information - Island Queen Cruises
- TABLE 46Key Information - American Cruise Lines
- TABLE 47Key Information - The Independent Traveler, Inc.
- TABLE 48Key Information - Viking River Cruises Inc.
