Press release
India Faith Based Tourism Market Growth Forecast: USD 3,158.9 Mn Value with Overview, Size, and Dynamics (2024-2031) | MakeMyTrip, Thomas Cook (India) Ltd
The India faith-based tourism market is estimated to be valued at USD 1,180.4 Mn in 2024 and is expected to reach USD 3,158.9 Mn by 2031, growing at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2031.The latest market intelligence report published by CMI with the title "Global India Faith Based Tourism Market 2024, Growth Opportunities, and Forecast" provides actionable insights on Consumer Goods industry. The report provides demand analysis, industry insights, competitive intelligence, and customer database.
The Research report on India Faith Based Tourism Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Key trends India Faith Based Tourism Market
1. Increasing Interest in Spiritual Journeys: There is a growing interest among domestic and international travelers in spiritual journeys that focus on personal growth and well-being. Many travelers are seeking experiences that connect them with their cultural and spiritual roots, leading to an increase in visits to sacred sites, temples, and pilgrimage destinations across India. This trend is evident in the rise of wellness retreats, yoga programs, and meditation workshops that cater to those looking for deeper spiritual experiences.
2. Government Initiatives and Support: The Indian government is actively promoting faith-based tourism as part of its broader tourism strategy. Initiatives such as the "Swadesh Darshan" scheme aim to develop and promote theme-based tourist circuits, including religious and spiritual routes. By enhancing infrastructure, marketing sacred sites, and offering better facilities, the government is making faith-based tourism more accessible and attractive to travelers, leading to increased visitation and revenue generation.
3. Rise of Digital Platforms: The proliferation of digital platforms and social media is transforming how travelers plan and share their faith-based journeys. Online travel agencies, review sites, and social media influencers are playing a significant role in shaping travelers' decisions. Virtual tours, travel blogs, and user-generated content are making information about religious sites more accessible, inspiring more people to embark on spiritual travels and explore lesser-known pilgrimage destinations.
4. Focus on Sustainable and Responsible Tourism: As awareness of environmental and cultural preservation grows, there is an increasing emphasis on sustainable and responsible tourism practices within the faith-based tourism sector. Travelers are seeking experiences that respect local cultures, traditions, and environments. Tour operators are responding by promoting eco-friendly practices, supporting local communities, and ensuring that tourism benefits the regions visited, creating a more meaningful and responsible travel experience.
5. Diverse Offerings and Customization: The India Faith-Based Tourism Market is witnessing a diversification of offerings tailored to different faiths and preferences. This includes customized pilgrimage packages, themed tours that cater to specific religious interests, and experiences that blend faith with cultural exploration. From Hindu temples and Buddhist monasteries to Sufi shrines and Christian pilgrimage sites, the variety of options allows travelers to design their journeys based on personal beliefs and interests, enhancing their overall experience.
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*Note: Sample of the report provides details on the scope and coverage, table of contents, research methodology, and Sample Framework of the report. Actual report of 150+ is available for purchase to all the interested stakeholders.
Detailed Segmentation and Classification of the report (Market Size and Forecast - 2031, Y-o-Y growth rate, and CAGR):
• By Purpose of Visit:
Pilgrimage
Spiritual Retreat
Monastery Stays
Festival Experience
Others
• By Type of Amenities:
Overnight Facilities
Guided Tours
Transport Rentals
Food Services
Souvenir Shops
Others
• By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report:
• MakeMyTrip
• Thomas Cook (India) Ltd
• Cox & Kings Ltd
• Mahindra Holidays & Resorts India Ltd
• Yatra Online Pvt Ltd
• International Travel House Ltd
• Expedia
• Ibibo Group
• SOTC Travel Limited
• Kesari Tours
• Cleartrip
• EasyMyTrip
• Balmer Lawrie Travel & Vacations
• Holy Voyages
• Soul of India.
• Tour My India
• Prime Travels
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Deep-dive Analysis:
The Report provides deep-dive qualitative and quantitative analysis on India Faith Based Tourism Market for all the regions and countries covered below:
• North America (the United States, Canada, and Mexico)
• Europe (Germany, France, Italy, United Kingdom, SCANDIVAN, Benelux, Russia, and Rest of Europe)
• Asia-Pacific (Japan, South Korea, India, China, Southeast Asia, and Australia)
• South America (Brazil, Argentina, and Rest of South America)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa, and Rest of the Middle East & Africa)
• Each Country is covered in detail, and report provides qualitative and quantitative analysis on India Faith Based Tourism Market on each country.
The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the India Faith Based Tourism market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the India Faith Based Tourism market?
4. What are the prominent market trends influencing the development of the India Faith Based Tourism market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the India Faith Based Tourism market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
Key insights provided by the report that could help you take critical strategic decisions?
• Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
• Reports provide opportunities and threats faced by suppliers in the India Faith Based Tourism and tubes industry around the world.
• The report shows regions and sectors with the fastest growth potential.
• A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
• The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
• This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.
Author of this marketing PR:
Priya Pandey is a dynamic and passionate PR writer with over three years of expertise in content writing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes writing contents and documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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