08 Apr '11, 3pm

Rising affluence will drive demand for luxury cruises in Asia: experts

Rising affluence will drive demand for luxury cruises in Asia: experts

SINGAPORE : The Asia Pacific accounts for around 7 percent of the world's cruise market. And experts say with increasing affluence in the underpenetrated Asian markets, cruise players are keeping a weathered eye on the region and its growth potential. As appetites pick up for more prestigious goods and services, the luxury cruise market is expected to gain the most. Sailing the seas in luxury is becoming the holiday of choice for many in Asia. Over the last three decades, global cruise arrivals have grown as fast as the world's overall tourist arrivals. In Singapore, for example, cruise passenger throughput has grown steadily, registering a healthy annual growth rate of 10 percent between 2005 and 2010, and the number of ships calling on Singapore has doubled from 56 in 2005 to 100 in 2010. Passenger throughput in Singapore last year was 1.01 million. And as demand continu...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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