International cruise line Viking said it believes the growth potential of the cruise tourism market is big in China, and it is making further investments to seize business opportunities emerging in the country.
The company said it is optimistic about the long-term prospects of the Chinese cruise tourism market for both sailings departing from China and those operating in Europe, and bookings have been rosy so far this year.
“We are doing long-term thinking. That’s why we are in China now, as we think this is a good time to invest further in China. We see a huge potential,” said Torstein Hagen, founder, chairman and CEO of Viking.
“Everybody knows China is big, and the Chinese travel market is big. I feel the dynamism of China. It’s very exciting,” Hagen said.
In particular, China is expected to embrace an era of silver tourism with its aging population, and elderly consumers are increasingly seeking high-quality travel experiences. Viking said it is tapping the silver generation in the market, as it believes its consumption potential has been underestimated.
When it comes to a certain age, one’s interest in history and culture increases, and that is a very important ingredient of the products that the company offers. Viking believes this is the right direction to develop the products, Hagen said.
As of the end of last year, China’s silver-haired population, or those aged 60 and above, exceeded 300 million, said the National Bureau of Statistics.
China’s cruise tourism market has grown rapidly in the past few years, and it now stands as the second-largest cruise source market after the United States. By 2035, some 14 million Chinese consumers are expected to take cruise trips annually, and China is foreseen to become the largest cruise source market globally by then, according to a forecast by the Cruise Lines International Association.
Chinese tourists have shown an ever-increasing enthusiasm for traveling abroad. Last year, the Chinese mainland continued to maintain the world’s largest outbound tourism market, said a recent report by Mastercard Economics Institute.
Despite exchange rate fluctuations and geopolitical factors, consumers’ enthusiasm for travel and purpose-driven consumption will drive the tourism industry and reshape its development pattern, according to the report.
With its operating headquarters in Basel, Switzerland, Viking entered the Chinese market in 2016 and launched the Chinese outbound programs by then. This year, it has four ships on rivers in Europe dedicated to Chinese consumers, and it is poised to arrange more ships next year. The company is also taking steps to make it easier for Chinese travelers to get visas to Europe with simplified procedures.
Meanwhile, China has been opening its doors wider to foreign travelers by expanding the unilateral visa-free policy to include over 40 countries, allowing visits of up to 30 days, according to the National Immigration Administration.
Hagen said the favorable policy will no doubt have a positive impact on the company, and Viking plans to introduce new inbound itineraries this fall to leverage the demand for inbound tourism.
After two years of recovery and cultivation in 2024 and 2025, China is expected to embrace a second “golden decade” of cruise tourism starting from 2026, according to the China Cruise and Yacht Industry Association.
“The new era will see a comprehensive building of the industrial chain and supply chain, and a pattern of joint development between international and Chinese cruise line operators,” said Zheng Weihang, executive vice-president and secretary-general of the association.
China is building its second domestically made large cruise ship Adora Flora City. The vessel is scheduled for delivery in 2026. The first ship has completed more than 100 voyages, providing services to more than 350,000 passenger trips, according to China State Shipbuilding Corp.
