Asian cruise market to reach 5 million by 2020
At the Seatrade All Asia Cruise Convention 2010, Michael Bayley, Vice President of Royal Caribbean Cruises Limited, talked about Asian source market size and where it is headed. Bayley compared the penetration rates versus population in other markets: Cruising’s penetration is 3.2% in North America, about 1% in Europe and less than 0.05% in Asia. With a population close to 3 billion, Asia has the potential to reach 40 million cruisers in 30 years, he said.
"Whilst that is an outrageous number there were only 500,000 cruisers in North America 35 years ago. I think 5m Asian cruisers by 2020 is not unrealistic at this stage"
The cruise market in China has seen a lot of growth recently and fast. The change in atmosphere is thanks to regulations being eased, there has been a lot of government support for the industry and ports have been investing in the development of terminals and infrastructure.