Australia's cruising phenomenon
Cognizant Communication Corporation
School of Business and Law
The cruise industry in Australia is in a period of unprecedented boom. Australia is now the world's fastest-growing source of cruise passengers, with numbers increasing 20.4% in 2014 to reach 1,003,256 cruisers. This achievement has been driven by a 20% annual average growth for the past 12 years. The country has also retained its position as the world leader for market penetration, with an equivalent of 4.25% of Australians taking a cruise last year, significantly ahead of the well-established North American market, which ranked second with a market penetration rate of 3.4%. Australia is now the fourth largest source market for cruise passengers, accounting for 4.5% of global cruisers, behind North America (54.2%), Germany (8%), and UK/Ireland (7.4%). © 2016 Cognizant, LLC.