Industry Analysis & Industry Trends
The Sea and Coastal Passenger Water Transport industry offers a range of services, including cruises, ferry services and fishing charters. The industry is reliant on domestic and international tourism because ferries transport travellers and cruise ships offer combined travel and accommodation. The past five years have been challenging for the industry, as the recession hit the global economy, causing travellers to limit their discretionary spending. However, although total industry revenue has declined, the cruise segment has performed strongly and expanded by marketing value holidays, such as all-inclusive cruises.
Industry revenue is forecast to decline at a compound annual rate of 0.3% over the five years through 2015-16, falling from £2.9 billion in 2010-11 to £2.8... purchase to read more
Industry Report - Industry Analysis Chapter
The Sea and Coastal Passenger Water Transport industry covers a patchwork of water transport services that carry business and leisure passengers between two destinations or on round trips. While some of these services are feeling the squeeze, others are innovating and developing their markets. Tight economic conditions, high costs and fierce competition have all negatively affected the performance of the industry over the past five years. As a result, industry revenue is expected to decline at a compound annual rate of 0.3% over the five years through 2015-16, falling to £2.8 billion in 2015-16. Factors such as the level of household disposable income, the price of oil and trends in tourism tend to determine revenue fluctuations from year to year.
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