Press release
Faith-Based Tourism Market Forecast 2024: Key Drivers and Global Expansion Trends
Faith-Based Tourism Market Forecast
The new report published by The Business Research Company, titled Faith-Based Tourism Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, 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 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%.
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What Is Driving The Growth Of The Global Faith-Based Tourism Market?
The Role Of Rising Spiritual And Religious Motivation In Driving Growth Of Faith-Based Tourism
The rise in spiritual and religious motivation is expected to propel the growth of the faith-based tourism market going forward. Spiritual and religious motivation refers to the internal drive or inspiration that leads individuals to engage in practices, activities, or behaviors rooted in their spiritual or religious beliefs. Spiritual and religious motivation is attributed to cultural shifts, economic uncertainties, personal and global crises, technological advancements providing greater access to spiritual content, and a collective search for meaning, purpose, and community. Spiritual and religious motivation contributes to the growth of faith-based tourism by increasing demand for pilgrimages, visits to sacred sites, participation in religious ceremonies, and engagement with cultural heritage, fostering a greater interest in travel experiences that offer spiritual fulfillment and deeper connections to faith traditions. For instance, in April 2024, according to the Ministry of Tourism, an India-based government administration, 1,439 million participants in religious tourism in 2022, more than double the 677 million recorded in 2021. Therefore, the rise in spiritual and religious motivation is driving the growth of the faith-based tourism market.
What Is The Key Trend In The Global Faith-Based Tourism Market?
Easemytrip's Easydarshan A New Era Of Convenient Spiritual Tourism In India
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.
How Is The Global Faith-Based Tourism Market Segmented?
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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How Is The Competitive Landscape Of The Global Faith-Based Tourism Market?
Major companies operating in the faith-based tourism 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
Contents Of The Global Faith-Based Tourism Market
1. Executive Summary
2. Faith-Based Tourism Market Report Structure
3. Faith-Based Tourism Market Trends And Strategies
4. Faith-Based Tourism Market - Macro Economic Scenario
5. Faith-Based Tourism Market Size And Growth
…..
27. Faith-Based Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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