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Asia affirmed as the fastest growing cruise market at Seatrade Cruise Asia 2016

Asia affirmed as the fastest growing cruise market at Seatrade Cruise Asia 2016
Busan, Korea (12 May 2016) - The world’s cruise community gathered in Busan, Korea today for the first day of Seatrade Cruise Asia 2016, to focus on Korea and the wider Asian market and discuss the diversity of sourcing, products and destinations across the region.

Opening the event held at the Busan International Passenger Terminal, Andrew Williams, general manager, Seatrade, affirmed that the focus on cruise in Asia was timely given that it is the world's fastest growing market both now, and expected to continue over the next ten years.  Seatrade Asia 2016 itself is bringing together some 1,000 stakeholders from within and beyond Asia to the three day event, he commented.

Taking part in the opening conference session were Buhdy Bok (president, Costa Group Asia, Costa Cruise Asia Pacific & China), Thatcher Brown (president, Dream Cruises), Bruce Krumrine (vice president, shore operations, Holland America Group) and Dr Zinan Liu (president, North APAC & China, Royal Caribbean International, and chairman, CLIA North Asia).

Mary Bond, managing director of publishing and editor, Seatrade Cruise Review and Seatrade Cruise News moderating the opening panel discussion pointed out that an unprecedented nine newbuilds are specifically destined to come into the Asia/Australasia cruise market by 2020.

Dr Zinan Liu, president, North APAC & China, Royal Caribbean International & chairman, CLIA North Asia began by saying that Asia is not an easy cruise market, requiring major commitment from stakeholders. He said Asia is the world's fifth largest market accounting for 9.2% of international cruise ship deployment, measured by available lower berths. 'Five years ago cruise travel was almost unheard of in Asia. Today the region is the fastest growing in the global cruise market with 2,080,998 Asian passengers registered in 2015, compared to 1,685,455 in 2014 – representing a 23.5% year-on-year increase,' commented Dr Liu.

Buhdy Bok, president, Costa Group Asia, Costa Cruises Asia Pacific & China, said quality and price were major considerations influencing growth. Elaborating on how lack of port infrastructure impedes growth, he said itineraries were not being maximized because of congestion through the entire value chain.

Bruce Krumrine, vp, shore operations, Holland America Group agreed that there it is timely that these downstream issues are being brought up at the conference. 'There was a need to increase guest opportunities and build variety,' he urged regional destinations.

Thatcher Brown, president, Dream Cruises of the Genting Group, said what is also critical is ‘people development’ and to develop the industry from a talent perspective.' He said education and managing market mix, to deliver a good cruise experience, were also important.

Turning to capacity, Dr Liu said he does not see excess capacity. He advised players entering the market need to be well-prepared, have the right strategy, and invest in effective distribution in the right markets.

In a lively discussion on customization for the Asia market, Dr Liu predicted that Asia will see a spectrum of cruise products, as cruise lines position themselves to serve the market. He said in keeping with market demand, there will probably be a balance between recognizable international and customized ‘local’ offerings.

At a press conference held prior to the opening, participants heard how the Korean cruise industry is bucking the trend of general low economic growth and Busan, in particular, is seeing a wave of growth in the cruise industry commented Gyung-jin Jung, vice mayor, Busan Metropolitan City.

Ye-jong Woo, president, Busan Port Authority said the port has seen exponential growth in the past year with some 250 more cruise ships call year-on-year, and has great potential to expand even further.

Seatrade Cruise Asia continues tomorrow (Friday 13 May) with two ‘Power Hour’ sessions covering ‘supplying cruise ships in Asia’, and the ‘cruise line-port relationship in North Asia’, as well as an extra session on growing Asian source markets.

Hosted by Busan Port Authority, Busan Metropolitan City and Korea Tourism Organization, Seatrade Cruise Asia is taking place 12-13 May 2016 at the Busan Port International Passenger Terminal in Busan, Korea. The event features a showcase exhibition, conference and travel agent training. We would like to say thank you to our sponsors, MedCruise and Wonderful Indonesia, and our supporters CLIA (Cruise Lines International Association) the Ministry of Culture Sports & Tourism and the Ministry of Oceans & Fisheries.

Please click here for photos from today's opening session and official ribbon cutting cermony.


Contact – Nina Marston, Marketing Manager for the Seatrade Cruise Portfolio (UBM EMEA), Tel +44 1206 201522 or email [email protected]

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Notes to the editors:

About Seatrade Cruise Asia

12-13 May 2016 sees Seatrade Cruise Asia take place at the Busan Port International Passenger Terminal in Busan, Korea. This event is a combination of the previous Cruise Shipping Asia-Pacific and Seatrade All Asia Cruise Conventions. Seatrade Cruise Asia is an annual cruise industry event purely focused on Asia and comprises of an exhibition, conference, networking and travel agent training. The exhibition will also be open to the general public on Saturday 14 May.

Seatrade Cruise Asia forms part of the series of global Seatrade events, websites and publications that covers every aspect of the cruise and maritime industries, bringing together key people to encourage innovation and to produce powerful learning, networking and promotional platforms. Founded in 1970, the Seatrade brand is part of the events portfolio for the world's second largest media and event organiser, UBM.

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