Cruise

CRUISE OVERVIEW

The global Cruise industry is set on a high-growth trajectory within the leisure and travel sector.

The global cruise industry is highly resilient. Between 2009 and 2019, it grew at  a compounded annual growth rate of 5.3% ^[1]​. In Asia, the cruise industry has experienced strong growth as cruise lines set their sights on the emerging destinations and consumer markets in this part of the world. In particular, Southeast Asia has been singled out as a region with immense potential to be the 'Caribbean of the East'.

With its tropical climate and calm waters, Southeast Asia is ideal for year-round cruising. The region is culturally rich and diverse in destination offerings, with vivid contrasts between old and new, boasting some 25,000 islands and 41 UNESCO World Heritage sites. Besides appealing to visitors from beyond the region, Southeast Asia is also home to a large and emerging middle class, which constitutes a promising source market for cruise ship deployments.

Singapore is located strategically in Southeast Asia, where its excellent air connectivity and world-class port infrastructure make it an ideal hub for cruising in the region – and our formula appears to be working. Every year, we welcome new cruise brands and ships to our shores, adding to our vibrant pipeline of deployments.

STB champions the cause for cruise development in Southeast Asia, and serves as the cruise lead coordinator in Association of Southeast Asian Nations (ASEAN), where we collaborate with regional neighbours to open up more ports and itineraries to boost the region's cruise offerings.

STB adopts a three-prong strategy focusing on infrastructure, business development and industry capability. STB works with stakeholders to ensure that Singapore's cruise infrastructure is future-ready to handle the latest ships, and to deliver the best passenger experience possible. STB also partners the cruise lines to drive consumer marketing campaigns, thus growing awareness and demand for cruising both locally and regionally. Lastly, STB recognizes the importance of travel agents and seeks to strengthen their capabilities in selling cruise, as well as nurturing greater value-add from ancillary businesses like ground handlers and tour operators.

[1] Cruise Lines International Association (CLIA) 2021