When the film Titanic , based on the Titanic cruise ship's tragedy, was released in 1997, there was apprehension within the cruise tourism industry, especially in Europe, that it would sink the market. However, this fear was unfounded. For Europe's cruise industry, Titanic led to a 20% increase in cruise ticket sales.
Far away in India, the iconic film remains in public consciousness. The 'I am flying' pose of Kate Winslet and Leonardo DiCaprio is one of the most imitated scenes here. At the time the ship sank tragically, India's cruise tourism industry was in its nascent stage, and such a sequence could only be dreamt of.
Not much has changed since then. Even now, the cruise tourism market in India is only valued at $100 million- just 1% of the $8 billion global market. Cruise tourism has significant potential for growth, given India's extensive coastline and over one hundred navigable rivers.
The 2024 Budget includes some tax incentives for foreign cruise liners, but this is not sufficient. While this can be seen as a progressive step, experts believe that real corrective measures would involve addressing the infrastructure gaps that have hindered the growth of the cruise industry. The Indian Ministry of Tourism drafted a national strategy for cruise tourism in June 2023 to promote India as a preferred destination for cruise tourism and coastal, ocean, river, and yacht cruises.
This was followed by two thematic discussions on cruise tourism during India's G20 presidency, he.