Market Size – The faith-based tourism market size has grown rapidly in recent years. It will grow from $12.29 billion in 2023 to $13.55 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to growth of major religious pilgrimage routes, establishment of global religious sites, increased globalization and cultural exchange, spread of major world religions, historical events and conflicts that have highlighted significant religious sites, rise of interfaith dialogue and cooperation, and the preservation and promotion of ancient religious traditions and festivals.
The faith-based tourism market size is expected to see rapid growth in the next few years. It will grow to $20.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to rising global interest in spiritual enrichment, increasing religious travel promotions, growing cultural exchange programs, enhanced accessibility to remote pilgrimage sites, improvement in infrastructure at religious sites, and heightened awareness of global religious events. Major trends in the forecast period include digitalization with virtual tours, eco-friendly pilgrimage options, integration of augmented reality at religious sites, development of immersive cultural exchanges, and innovation in personalized spiritual experiences.
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Scope Of Faith-Based Tourism MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Faith-Based Tourism Market Overview
Market Drivers –The rise in spiritual and religious motivation is expected to propel the faith-based tourism market, as more individuals seek travel experiences rooted in their spiritual and religious beliefs. This shift is driven by cultural, economic, and personal factors, alongside technological advancements that provide easier access to spiritual content. As a result, there is increased demand for pilgrimages, visits to sacred sites, and participation in religious ceremonies. According to India’s Ministry of Tourism, religious tourism grew from 677 million participants in 2021 to 1,439 million in 2022. Therefore, the rise in spiritual motivation is driving the growth of the faith-based tourism market.
Market Trends – Major companies operating in the faith-based tourism market are focusing on developing innovative solutions, such as an online platform for spiritual tourism to streamline trip planning, enhance personalized travel experiences, and connect travelers with a wide array of religious and spiritual activities and destinations. An online platform for spiritual tourism is a digital service or website designed to facilitate and enhance the planning, booking, and experiencing of travel related to spiritual and religious activities. These platforms typically provide services and features tailored to travelers seeking spiritual growth, religious experiences, or visits to sacred sites. For instance, in October 2023, EaseMyTrip, an India-based travel arrangements company, launched EasyDarshan, a dedicated online platform to enhance spiritual tourism in India. This initiative is designed to cater to travelers’ spiritual needs by offering various curated pilgrimage packages that include transportation, accommodation, guided tours, and special pujas.
The faith-based tourism market covered in this report is segmented –
1) By Type: Pilgrimages, Religious And Heritage Tours, Day Trips And Local Gateways, Museums, Other Types
2) By Booking: Phone Booking, Online Booking , In Person Booking
3) By Traveler Type: Independent Traveler , Tour Group, Package Traveler
4) By Application: Domestic, International
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Regional Insights – Europe was the largest region in the faith-based tourism market in 2023. The regions covered in the faith-based tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Booking Holdings Inc., Expedia Group Inc., Airbnb Inc., Abercrombie & Kent USA LLC, Kesari Tours Pvt Ltd, Tauck, Brightspark Travel Inc., Globus Tours, Amiel Tours Ltd., Indus Travels Inc., Go Thailand Tours, Pilrimage Tour, Gil Travel Group, Bestway Tours & Safaris Pvt. Ltd, Heritage Tours & Travels, 206 Tours Inc., N.S. Travel & Tours Co. Ltd, Martin Randall Travel Ltd., ACE Cultural Tours, Israel Travel Providers LLC, Regina Tours, Catholic Travel Centre, Cox & Kings Ltd., Maranatha Tours, SpainTOP
Table of Contents 1. Executive Summary2. Faith-Based Tourism Market Report Structure3. Faith-Based Tourism Market Trends And Strategies4. Faith-Based Tourism Market – Macro Economic Scenario5. Faith-Based Tourism Market Size And Growth…..27. Faith-Based Tourism Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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