The Coastal And Maritime Tourism Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Coastal And Maritime Tourism Global Market Report 2024, The coastal and maritime tourism market size has grown strongly in recent years. It will grow from $2,804.71 billion in 2023 to $3,010.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to government initiatives, development of coastal infrastructure, demand for cruise travel, increasing leisure travel sales through online channels, and growth of the cruise industry.
The coastal and maritime tourism market size is expected to see strong growth in the next few years. It will grow to $4,032.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising investment in tourism industry, increasing holiday rental reservations, rising demand for leisure trips, rise in disposable income and rising demand for vacations and trips. Major trends in the forecast period include technological innovation, sustainability and responsible tourism, rise of luxury and experiential travel, digital transformation, and adventure and water sports tourism.
The rising popularity of leisure trips is expected to propel the growth of the coastal and maritime tourism market going forward. Leisure trips are travel experiences primarily undertaken for relaxation, enjoyment, and personal enrichment rather than for work or business purposes. The rising popularity of leisure trips is attributed to increasing disposable incomes, greater emphasis on work-life balance, and a growing desire for experiences and relaxation. Leisure trips boost coastal and maritime tourism by increasing demand for local accommodations, dining, recreational activities, and cultural experiences, driving economic growth in coastal regions. For instance, in May 2023, according to the Office for National Statistics, a UK-based government agency, in 2022, the UK saw 31.2 million overseas residents visits, marking an increase of 24.9 million visits from 2021. Therefore, the rising demand for leisure trips is driving the coastal and maritime tourism market.
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The coastal and maritime tourism market covered in this report is segmented –
1) By Type: Passenger Ticket Services, Onboard And Other Services
2) By Travel Type: Solo Travel, Family Travel, Couples Travel, Group Tours
3) By Application: Cruise Tourism, Yacht And Sailing Tourism, Water Sports And Water Activities, Other Applications
Major companies operating in the coastal and maritime tourism market are focused on developing innovative solutions, such as cruise reservation platforms, to streamline the booking process and enhance customer experience. Cruise reservation platforms streamline the booking process, making it easier for travelers to plan and book cruise vacations that include coastal destinations, thereby increasing tourist influx and boosting local economies. For instance, in November 2023, Royal Caribbean, a US-based Shipping line company, collaborated with IBS Software, a Singapore-based technology company, to launch the iTravelCruise platform, a web cruise reservations platform designed to streamline booking processes, offer personalized travel experiences, and improve operational efficiency. These technologies enhance the overall cruise experience and help companies meet increasing consumer expectations for digital convenience and connectivity.
The coastal and maritime tourism market report table of contents includes:
1. Executive Summary
2. Coastal And Maritime Tourism Market Characteristics
3. Coastal And Maritime Tourism Market Trends And Strategies
4. Coastal And Maritime Tourism Market – Macro Economic Scenario
5. Global Coastal And Maritime Tourism Market Size and Growth
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32. Global Coastal And Maritime Tourism Market Competitive Benchmarking
33. Global Coastal And Maritime Tourism Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Coastal And Maritime Tourism Market
35. Coastal And Maritime Tourism Market Future Outlook and Potential Analysis
36. Appendix
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