Simultaneously, the need for specialized travel insurance designed for cruise passengers has become increasingly apparent.
“The Indian cruise market has expanded at a 27% CAGR over the past eight years,” points out Shiju Radhakrishnan, Founder & CEO of GetMyCruise.com. “In 2024, we anticipate that over 300,000 Indians will set sail on international cruises, with projections indicating this figure could reach 2 million by 2030.”
Despite this impressive growth, cruises currently make up only about 1% of India’s outbound travel market, reflecting a substantial untapped opportunity. “The upper-middle-class segment in India, comprising around 50 million consumers, is increasingly attracted to luxury and boutique cruise offerings,” he mentions, noting a transition from mass-market trips to more personalized, premium voyages.
GetMyCruise, the platform he oversees, functions as an online marketplace for cruises, enabling users to book their international cruising experiences across 450+ ships, 42+ cruise brands, and over 3,200 sailings worldwide.
Government initiatives and infrastructure enhancement
Government projects like the Sagarmala Project aim to boost India’s maritime infrastructure. The establishment of cruise terminals in Mumbai, Goa, Kochi, and Chennai, as highlighted in a recent PIB announcement, is expected to streamline cruise operations and enhance passenger capacity.
Radhakrishnan emphasizes the significance of these developments: “With upcoming renovations at these ports and cruise lines like Royal Caribbean, MSC, Disney, and Costa expanding domestic itineraries, we anticipate substantial growth in cruise traffic from Indian ports.”
International routes maintain popularity
Although domestic routes such as Mumbai-Goa and Mumbai-Lakshadweep account for nearly 70% of local sailings, over 80% of Indian cruise bookings currently target international destinations.
Sought-after winter routes include Southeast Asia and the Middle East, while summer cruises often traverse the Mediterranean and Northern Europe.
The essential role of insurance in cruise travel
“Almost all international cruise travelers secure insurance prior to embarking,” states Radhakrishnan, underscoring the increasingly recognized importance of insurance in managing travel risks.
Conversely, domestic cruise travelers often skip this coverage, a discrepancy experts believe needs addressing.
Meet Kapadia, Head of Travel Insurance at Policybazaar, reinforces the rising demand for insurance products tailored for cruises.
“As more Indians venture into unique cruise experiences, we observe a significant uptick in the demand for policies that cover cruise-specific risks such as missed port arrivals, cabin confinement, and emergency medical evacuations,” he details.
Insurance coverage tailored to cruise passengers’ needs
Travel insurance plans for cruises typically include options costing around ₹200-₹300, offering protection against:
- Missed port arrivals or delayed cruise connections
- Medical emergencies onboard, including hospitalization
- Cabin confinement due to illness or quarantine protocols
- Emergency evacuation at sea
- Trip cancellation or interruption related to cruise itineraries
These coverages are vital given the heightened complexity and potential risks of sea travel compared to traditional travel options.
