China’s cruise industry projected to create 460 billion yuan by 2035
Asia’s cruise market is sailing into a golden era, powered by significant growth in China. By 2035, China’s cruise industry is projected to generate 460 billion yuan in revenue.
In recent years, cruising in Asia and Oceania is growing at a much faster rate than in Europe and America. China is a key engine powering the growth of cruising in Asia, and is taking the region into a golden era for luxury cruises.
In 2017, a total of 1,049 cruises set sail from China ports, carrying 2.43 million passengers, 10 times more than in 2010, according to an executive of China’s Ministry of Transport. China is now the largest cruise passenger source market in Asia and the second largest in the world.
Cruise ports in China dot a number of cities from the north to the south, covering Dalian, Tianjin, Qingdao, Shanghai, Ningbo-Zhoushan, Xiamen, Guangzhou, Shenzhen, Sanya and Haikou. Shanghai, thanks to its location and market size, account for 60% of the overall passengers across the country. The passenger volume at Shanghai ranks first in Asia and fourth in the world.
Internationally renowned cruise operators vie to enter the China market. Royal Caribbean, Costa Cruises, Star Cruises, Mediterranean Cruises and Princess Cruises have all deployed large luxury cruise ships at China's ports, such as Quantum of the Seas that sails from Shanghai to Japan and Korea; Ovation of the Seas, and Norwegian Joy whose home ports are Shanghai & Tianjin in China.
It is projected that China’s cruise market will see 14 million customers and generate RMB 460 billion total revenue by 2035.