A new cruise market report from the Cruise & Travel Industry Association (CTIA) shows that cruise market activity is growing rapidly.

“With the new market being launched and expanding rapidly, the industry is well on the way to meeting the demand for new cruises,” said David Ritchie, CEO of the CTIA.

The cruise market has grown from $7.4 billion in 2016 to $10.9 billion in 2019, according to the report.

The industry is set to see a big growth this year, with new cruise line launches in 2018, 2019 and 2020.

Cruise line launches have also increased by more than 50 per cent in the last four years.

“We are seeing the cruise industry growing quickly, particularly in the maritime markets and the maritime trade, which are key to the Australian economy,” Mr Ritchie said.

The report also shows that the industry saw a growth in the number of people visiting Australia in 2019 from 13,500 to 16,300.

“As the industry has expanded to new markets, the cruise market continues to show strong growth,” Mr Riches said.

“The growth of the cruise and trade trade has been driven by the emergence of cruise liners and passenger ships that are popular with travellers and locals alike.”

He said cruise market growth has been a boon for the Australian travel industry, which has been the target of increasing competition from cheaper Chinese cruise ships.

“Our market has been growing for more than a decade, but it is still growing faster than the other major markets like China and the US,” Mr Robins said.

Cruise market reports have shown an increase in passengers travelling to Australia from overseas in 2019.

“There has been an increase from more than 25 per cent of the total cruise ship passengers from overseas to more than 40 per cent,” Mr Roberts said.

This is expected to continue in 2020.

He said that while there are a number of factors influencing the growth of cruise market, the biggest factor is the availability of cheap cruise linings.

“These cruise lines and their ability to provide safe, comfortable, and convenient travel to many destinations around the world have been a big part of the market,” Mr Smith said.