Compared to other continents, Europe is relatively small. It makes sense to explore it by sea as much of its outer boundaries is enclosed by water. Europe in all its glory is more manifest this way, in water or ashore. The golden domes of Istanbul, the fjords of Norway, the inscrutable Sphinx- these are some of the sights on offer. There are other facets too, like the celebrated French Riviera or the everyday attractions of busy London roads and pubs and the street side cafes of Paris. The cruise companies nonetheless feel that the ship should be a destination in itself, striving to promote comfort and convenience, and a wide range of entertainment and leisure activities.
The leading cruise companies of Europe are represented by the European Cruise Council (ECC) with 30 cruise members and 34 associate members. This body takes care of cruise ship operators in Europe in liaison with EU institutions, and other European bodies. The ECC also promotes and encourages expansion of the European cruise market to a wider public audience, working closely with a number of regional bodies such as Cruise Baltic, Cruise Europe, Cruise Norway and Med Cruise.
The European cruise industry continues to remain an important economic contributor with European ship building being a valuable industrial contributor as a relaxation of economic caution and design rule changes indicate more positive signals for orders beyond 2014. At its fifth annual conference this year, it is reported that the ECC plans to invest USD 15 billion in acquisition of 23 new cruise ships, signaling more jobs. More than 90% of all cruise ships are built in Europe.
It has commended the industry for its active role in Europe's economic recovery with high safety and environmental standards. A variety of policy matters, from sustainable tourism, and piracy to sulphur emissions were discussed. Statistics show that in 2010, goods and services worth ?35.2 billion were generated, commanding 30 % of the global market with 5.5 million Europeans opting for cruises. A 54% jump in people employed was recorded, compared to 2005.
However, higher fuel costs and more stringent environmental regulations will necessitate alteration of itineraries by the middle of the decade as counteractive measures. This means reduced cruise speeds, distances traveled and sometimes the number of ports visited. Already cruises to nearby ports such as France, Spain, Portugal and Norway are being promoted as a concomitant measure. Though the companies try their best to conform to new rules and regulations, can the growing plethora of regulations on the environmental front signal an uncomfortable time ahead?
[...] Cruises – All over Europe Table of Content ➢ Industry Overview . ➢ Key Developments and Trends . ➢ Key European Players . ➢ SWOT Analysis of European Cruise Market . ➢ Risks, challenges and Limitations . ➢ Corporate Social Responsibility: Benchmarking of Cruise Lines . ➢ Recommendations & Future Research Scope . ➢ References . Industry Overview Global Snapshot Global cruise market is worth US$ 36.2 billion; with year-on-year growth of in 2012. In 2008, the market was worth US$ 24.5 billion. [...]
[...] Germany is the second biggest market; with passenger travelling in cruise lines at 1.544 million ( of total Europe). Source: IRN Italy retained as the “most preferred” cruise destination across Europe; with passenger volume of 6.22 million (2011: 6.4 million) in 2012 (Cruise Europe, 2012). Spain is the second most prominent cruise destination; accounting for (2011: 18.7 of total European passenger volume. Norway is the fastest emerging destination for European travellers via cruise lines; attracting 2.49 million (2011: 1.94 million) passengers in 2012 (Cruise Europe, 2012). [...]
[...] Friends of the Earth's Cruise Ship Report Card 2012 report card has evaluated seventy three cruise ships in Europe; with Norwegian Star brand of Norwegian Cruise Lines achieving the best rating of “A” in 2012. Princess Cruises “Dawn Princess” and Holland America Line “Eurodam” slightly receive hampered rating of attributed to poor air pollution reduction of “C” grade. Silversea Cruises is one of the lowest rated cruise lines in Europe with majority of its ship brands “Silver Wind, Silver Spirit, Silver Explore and Silver Cloud” receiving poorest rating on corporate social responsibility index i.e. F grade. Finally, more than fifty percent of cruise ships in Europe have been rated poor i.e. [...]
[...] Royal Caribbean International is the second biggest cruise liner worldwide; with market share of Norwegian Cruise Line and MSC Cruises control single digit market share of respectively (2012- 2013). Source: http://www.cruisemarketwatch.com/growth/ European Snapshot European cruise segment direct and indirect impact stood at € 37.9 billion; with CAGR of (2008-2012). The market hosted 43 European domiciled cruise lines, operating 131 ships with annual passenger berths capacity of 0.147 million (CLIA Europe, May 2013). It further, hosted 76 ships with capacity of 0.102 million berths of non European cruise lines (2012). In 2013, six new ships will be commissioned; with additional berths capacity of 14,050. [...]
[...] This will be CAGR of from current passenger volume of 5.66 million in 2013. Further, majority of leading markets such as Germany, Italy and United Kingdom are steadily increasing direct and indirect expenditure across local cruise markets offering higher customer value proposition and regional employment. By 2016, European cruise segment is stipulated to increase berths capacity by 66,917 offering steep competition to their closest competitors i.e. United States and rising goliath “China”. Future Research Scope The future research scope involves the following: ➢ Consumer shifts towards economical or luxury cruise lines: Case study of China as emerging marketspace for global cruise stakeholders. [...]
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