Asia Cruise Source Market Could Reach 5 Million by 2020

With a population close to 3 billion, Asia is almost double the size of all the current leading cruise theatres put together, and boasts an as yet largely untapped source market. Since the inaugural Seatrade All Asia Cruise Convention in 2008, the cruise market in China has seen rapid development. Regulations have been eased, there has been marked government support for the industry and ports have been investing in the development of terminals and infrastructure.

Lu Haihu, Chairman, Shanghai International Port Group made these remarks during the keynote address at the Seatrade All Asia Cruise Convention 2010.

During the opening conference session, Michael Bayley, EVP, Royal Caribbean Cruises Limited, touched on the subject of Asian source market size and where it is headed, comparing the penetration rates versus population in other markets: Cruising’s penetration is 3.2 percent in North America, about 1 percent in Europe and less than 0.05 percent in Asia. With a population close to 3 billion, Asia has the potential to reach 40 million cruisers in 30 years, he said.

Elsewhere in the convention, the Asia Cruise Association (ACA) signed two Memoranda of Understanding with the China Cruise and Yacht Industry Association (CCYIA) and Asia Cruise Terminals Operators Network (ACTON) during a press conference yesterday.