From 2013 to 2023, the import of cruise ships, excursion boats, and ferry boats to India exhibited significant fluctuations. Initially, the value peaked at $469.83 million in 2013 and then sharply declined to $72.011 million in 2023. Key trends observed are: a significant drop in 2014 (-52.59%), another steep decline in 2020 (-49.31%) likely influenced by the pandemic, and a consistent decline in subsequent years. As of 2023, the import value stood at $72.011 million. Year-on-year variations from 2022 to 2023 showed a decrease of 12.37%, and a negative CAGR of -9.88% for the last five years.
Forecasted data from 2024 to 2028 indicates a continual steep decline, culminating in $18.371 million by 2028. The predicted CAGR for this period stands at -21.13%, with an overall anticipated reduction of 69.48% over these years, implying a significant downturn in imports.
Future trends to watch for include:
- Potential impact of global economic conditions on import capacity.
- Changes in domestic demand for cruise-related services and infrastructure.
- Effects of regulatory policies and advancements in transportation technology on import volumes.
