Global cruise industry projected to be worth $16.7 billion by 2031, new report reveals

The report – titled ‘Cruise Ship Market by Type (Mainstream Cruise Ships, Ocean Cruise Shops, Luxury Cruise Ships, Others) by Application (Transportation, Leisure, Others), by Size (Small, Mid, Large): Global Opportunity Analysis and Industry Forecast, 2021-2031’ – found that the market, which was estimated to be worth US$8bn (€7.49bn, £6.6bn) in 2021, is set to grow by a compound annual growth rate (CAGR) of 7.9% over the next several years.

Published by Allied Market Research, the report explored several market dynamics including the growing luxury market, the increase in attractions and tourism and the launch of state-of-the-art vessels that use technology to enhance the guest experience.

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