BEIJING, Oct. 26 (Xinhua) -- China's cruise economy is expected to enter a short-term period of correction, which is likely to last 2-3 years, according to experts attending the conference of Seatrade Cruise Asia Pacific held in Shanghai.
Since 2012, China's cruise market has witnessed a rapid expansion, with annual average growth of passenger flow reaching 72.84 percent by 2016. China has become the second largest cruise line market in the world. Such significant growth has begun to pull back since 2017.
China and Asia Cruise Economic Climate Index in 2018 fell 0.22 and 0.24 respectively as compared with that in 2017.
Despite this, experts widely believed that after undergoing a correction period from high quantity growth to high quality growth, China's cruise economy is likely to embrace a prosperous future.
In September, guidelines on promoting development of China's cruise economy were released, which is likely to inject boosts into the industry. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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