The religious tourism global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Religious Tourism Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The religious tourism market size has grown strongly in recent years. It will grow from $161.51 billion in 2023 to $174.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to the rise of spiritual consumers, growing interest in religious heritage and pilgrimage sites, expansion of religious tourism infrastructure services, government initiatives, and promotional campaigns, and rising disposable income.
The religious tourism market size is expected to see strong growth in the next few years. It will grow to $243.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to growing interest in spirituality and wellbeing, growing international travel, rising awareness among consumers about travel destinations low-cost air travel, increase in population, and rising demand for specialized faith-based travel packages and tours. Major trends in the forecast period include advancements in transportation infrastructure and connectivity, integration of technology into religious tourism experiences, sustainable tourism practices, product launches, and growth of online booking systems.
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The 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.
Market Drivers –
The growing popularity of spirituality and wellbeing is expected to propel the growth of the religious tourism market going forward. Spirituality and wellbeing involve the comprehensive integration of physical, mental, and emotional health and a sense of purpose, connection, and inner peace. The popularity of spirituality and well-being can be attributed to several factors, such as psychological benefits, health-related behaviors, social connections, and eudaimonic well-being. Religious tourism enhances spirituality and wellbeing by allowing individuals to engage in meaningful spiritual practices, gain deeper insights into their faith, and experience inner peace and personal growth through sacred journeys and pilgrimages. For instance, in 2022, according to the United States Department of State, a US-based agency, 46.2% of the population in England and Wales identify as Christian. Among the remaining population, 6.5% identify as Muslim, 1.7% as Hindu, 0.9% as Sikh, 0.5% as Jewish, and 0.5% as Buddhist. Therefore, the growing popularity of spirituality and wellbeing has driven the growth of the religious tourism market
Market Trends –
Major companies operating in the religious tourism market are focused on developing innovative solutions, such as spiritual tourism platforms, to provide comprehensive travel planning, booking services, and personalized spiritual experiences tailored to the needs of religious travelers. Spiritual tourism platforms are specialized services or platforms that facilitate travel experiences focused on spiritual growth, wellness, and connection to sacred or serene environments. For instance, in October 2023, EaseMyTrip, an India-based travel company, launched the EasyDarshan platform, a dedicated platform for spiritual tourism in India. This platform is a dedicated platform for spiritual tourism in India, offering curated pilgrimage packages to revered sites, including temples, gurudwaras, churches, and mosques. This platform simplifies travel logistics with packages covering transportation, accommodation, guided tours, and special pujas. The platform features diverse destinations, from tranquil southern temples to serene Himalayan shrines, prioritizing safety and sanitation, ensuring convenient and safe spiritual journeys for all travelers.
The religious tourism market covered in this report is segmented –
1) By Type: Domestic, International
2) By Religion Type: Buddhism, Catholicism, Confucianism, Hinduism, Islam, Other Religion Types
3) By Age Group: Below 30 Years, 30-40 Years, 40-50 Years, Above 50 Years
4) By Sales Channel: Offline, Online
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Regional Insights –
Middle East was the largest region in the religious tourism market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the religious tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the religious tourism market are Booking Holdings Inc., Expedia Group, Frosch International Travel, Insight Vacations Inc, Viator Inc., Travel Leaders Group, Kesari Tours Pvt Ltd., Collette Travel Service Inc., Exoticca, Corporate Travel Management Ltd., G Adventures Inc., Odynovo Tours, Trafalgar, AAA Travel, Gil Travel Group, Holy Voyages Pvt Ltd., JTB Americas Group, Ovation Travel Group, Heritage Tours & Travels LLC, Holy Land Tours
Table of Contents
1. Executive Summary
2. Religious Tourism Market Report Structure
3. Religious Tourism Market Trends And Strategies
4. Religious Tourism Market – Macro Economic Scenario
5. Religious Tourism Market Size And Growth
…..
27. Religious Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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