The Cruises market in Sweden has been experiencing a significant growth in recent years, with more travelers opting for cruise vacations to explore the beautiful Scandinavian region.
Customer preferences: Travelers in Sweden are increasingly drawn to the convenience and all-inclusive nature of cruise vacations, where they can visit multiple destinations without the hassle of planning individual itineraries. Additionally, the growing interest in sustainable travel practices has led to a rise in eco-friendly cruise options among Swedish consumers.
Trends in the market: One prominent trend in the Swedish Cruises market is the popularity of expedition cruises to remote and unique destinations, offering passengers the opportunity to explore off-the-beaten-path locations. Moreover, themed cruises catering to specific interests such as wellness, gastronomy, or adventure sports are gaining traction among Swedish travelers.
Local special circumstances: Sweden's geographical location with access to the Baltic Sea and numerous picturesque archipelagos makes it a prime hub for cruise departures and stopovers. The country's vibrant coastal cities like Stockholm and Gothenburg serve as attractive ports of call for cruise ships, offering rich cultural experiences and historical landmarks for visitors to explore.
Underlying macroeconomic factors: The stable economy and high disposable income levels in Sweden have contributed to the growth of the Cruises market, as more consumers are able to afford luxury travel experiences like cruise vacations. Additionally, the strong focus on promoting tourism by the Swedish government has further boosted the cruise industry, attracting both domestic and international cruise operators to cater to the growing demand in the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of cruises.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
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