Alaskan cruise market to grow to USD 2.51 billion by 2032 : FMI report

New services to focus on sustainability & luxury
2023-01-13
/
/ New Delhi
Alaskan cruise
Alaskan cruise market to grow to USD 2.51 billion by 2032 : FMI report

Alaska has been gaining traction as a cruise destination

A report by research firm Future Market Insights says that the Alaskan cruise market is estimated to grow from USD 1.87 billion to USD 2.51 billion by 2032, with an annual growth of 3 pc. New services will focus on luxury and sustainability, says the report.
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The remote region of Alaska has been gaining traction as a cruise destination thanks to its myriad of breathtaking experiences during a cruise journey across the amazing landscapes of northwest Canada and it is set to register a steady growth at 3 pc Compounded Annual Growth Rate (CAGR) between now and 2032 to reach a total sales of USD 2.51 billion, says a new report by market analysis firm Future Market Insights (FMI).

FMI says that besides the views, these cruises are also an ideal option for adventurers and thrill seekers with a myriad of activities like flightseeing, safaris, kayaking, dog sled rides, and more. In recent months, there has been increase in travellers opting for cruise travel as the conditions started getting back to normal after the pandemic.

FMI says that in 2020, the coronavirus pandemic caused cruise ships to be dramatically underutilised. A number of cruise ships were forced to anchor in port because of the disease spread, while more than a few went on dry land without passengers. But now as all the restrictions are removed by the government authorities, the cruise terminals are currently bursting with an eager populace, and cheerful staff greet newcomers to the journey. And cruises have also recommenced with zeal in Alaska.

FMI says that Alaska has two intense seasons, long cold winters and short intense summers which makes it a unique cruise destination. Most of the travellers tend to do their bookings nearly 2-3 months before their trip. Most visitors in Alaska are seen in the span from April to June which comprises about 29 pc of travellers followed by the early span of the year from the months of January to March comprising 27 pc of the total tourists visiting Alaska throughout the year, says FMI.

Now, with restoration of cruising, the focus is on two sectors – sustainability and luxury – with developments in both the areas, says FMI. The US Port of Seattle, Alaskan City and Borough of Juneau, Canada’s Vancouver Fraser Port Authority, major cruise lines, as well as the Global Maritime Forum, Blue Sky Maritime Coalition, and Washington Maritime Blue have planned to initiate a new step to develop the feasibility of the world’s first cruise-led ‘green corridor’ says FMI. The Green Corridor would be a maritim route where zero greenhouse gas emission solutions would be supported and demonstrated.

Efforts are being taken to explore the feasibility of a new innovation that would help in achieving zero emission ships in the Alaskan region. Cruise line and industry partners like Carnival Corporation, Norwegian Cruise Line Holdings, Royal Caribbean Group are taking efforts to build this new and ecofriendly way of cruising.

In the luxury domain, too, there have been developments, says FMI as a new Alaskan sailings have been launched for watching whales, glaciers, and amazing port cities, says FMI. It adds that from May up to August 2024, Explora Journeys will be offering three exciting Alaska itineraries. The Explora I, will include Remote Wrangell and Scenic Sitka, sailing the Whale’s Highway, and tour of the Glaciers. All of the three itineraries will start their journey from Vancouver for a 10-11 nights trip. All three will be sailing Alaska’s spectacular Inside Passage and take halts in Juneau, Sitka, and Victoria, British Columbia. Apart from these Alaskan ports, the trips will also include visits to Ketchikan, Misty Fjords National Monument, Skagway, Hubbard Glacier, and Wrangell.

Explora Journeys will also incorporate the flavour of Alaska on board, using Alaskan seafood, meat, and other special cuisines in its restaurants, says FMI.

It adds that cruising is now more popular with all those who choose to avoid the hassle, expense, and stressful process of booking a plane ticket in person. Over the course of this century, online booking has expanded that convenience. Online booking and payment is also a fast and easy method for the traveler. Connectivity via mobile devices has enhanced the construction of safety for cruise travelers, and delivered quicker access to tracking information. Travellers now use online travel research websites to compare details on destinations, accommodations, restaurants, and so forth.

Online bookings have democratised travel to more areas around the world. About 68 pc of travellers plan or book at least some part of their Alaska trip online among which 58 pc book their trip completely by utilising online platforms.

The most common age group is 65 and older (29 pc), followed by 55 to 64 years (25 pc), then 45 to 54 years (15 pc), says FMI. Cruises are also accessibility-friendly and offer seniors with limited mobility the opportunity to enjoy the sights without having to rely on different modes of transportation.

The number of younger passengers i slow as travellers from 35-44 years account for about 10 pc, followed by kids under 18 years and people in the age group of 25-34 years, both of these age groups comprise 8 pc each. The least concentration of travellers are between the age group of 18-24 years contributing nearly 4 pc of the total travellers, says FMI.

In terms of popular destinations, the Mount Roberts Tramway in Juneau is the place visited by most people, and the most popular tourist destination is the Pine Tree Totem Park in Ketchikan. The places in Skagway of highest interest include the downtown area of the Skagway ship dock and tour the historic city’s traditional saloons, including the Red Onion. Baranof Castle Historical Site in Sitka makes a great addition to any Alaska trip, says FMI.

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