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China cruise boom evaluated in new report
Euromonitor International’s Global Market Trends Report 2013, released at World Travel Market in London this week, makes some interesting observations on the cruise market in China.
Industry sources predict China will become the second largest global cruise market after the US by 2017, the report notes.
Currently only 6-7% of global cruise passengers are from Asia. This is expected to increase to 20%.
Other points from the Euromonitor report:
– Carnival Asia expects at least seven million cruise passengers to come from Asia by 2020.
– Lack of infrastructure is the biggest impediment to growth, requiring government intervention to improve and ensure a more integrated transportation solution.
– International companies are leading the charge into the Chinese market but need to take into account specific local preferences, including dining, shopping and leisure options.
– Hong Kong is a leading destination with its new US$1 billion Kai Tak Cruise Terminal.
– The Asian Cruise Association identified 80 further cities as potential Asian cruise stops, including destinations in China, Myanmar, Malaysia, South Korea and Vietnam.
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