US Cruise Industry Market Size
The 2018 US cruise industry market size was estimated to be $19.50 Billion. The Unites States has the largest volume in terms of cruise passengers worldwide with 13.09 million passengers in 2018, a 10% increase from the previous 11.94 million.
US CRUISE INDUSTRY market size
- The 2018 total global market size for the cruise industry has an estimated value of $45.6 billion. North America accounted for an approximate 47% of global expenditures in the previous year, and has a large share of passenger volume.
- In the North America region, there is a continued steady growth due to an increase in the demand for cruising. The United States is considered as the largest source market as it accounted for 91% of North America's region passenger volume with 11.94 million in 2017.
- From this data, the market size for the cruise industry in the United States can be estimated to be $19.50 Billion.
other useful FINDINGS
- The United States is also the “largest originator of cruises”.
- In 2017, an approximate 12.2 million passengers originated from US ports.
- Port Everglades, Miami, Port Canaveral, Galveston and Long Beach are the 5 largest ports in the United States and accounted for two-thirds of the country's passenger embarkation in 2017.
- A 2018 Passenger Report by Cruise Lines International Association reveals that adult Americans aged 70 and older are the most prominent passengers accounting for 14% of the overall US passengers.
- Favorite destinations for American passengers are the Caribbean/Bahamas/Bermuda destination route with 70.4% of the overall cruise trips in the US.
To find the market size of the US cruise industry, we reviewed industry reports, media news articles and press releases. We searched credible sources such as Florida-Caribbean Cruise Association, Cruise Industry News, Cruise Lines International Association, Cruise Market Watch and similar sites. Unfortunately, there were no pre-compiled reports found to answer this request. However, information from these industry reports provided us with sufficient data points to be able to answer this through triangulation.
- First, we reviewed other previous requests completed in line with the assigned request, and noted the global market size used. To provide a consistent brief, we utilized the same figure as our basis.
- We then looked for segmentation, either by global regions or countries. This report provides the regional segmentation for North America, where it also discusses what percentage accounted for passengers in the US. As the revenue gathered from cruise passengers, we have used this percentage. The data points in this report were utilized by calculating it against the 2018 global market size.
- For additional findings, we also included the US passenger report to provide information on top US cruise passengers by age, destination, and states.
- To calculate the market size of the US cruise industry, the global market size figure was multiplied to the North America region segment, of which the answer was multiplied to the US percentage segment as below:
($45.6 billion*47%)*91%= $19.50 Billion