According to a recently released FMI analysis, the global faith-based tourism market could total US$ 15.07 billion by 2023. The report also discloses that the market is expected to boom at a remarkable CAGR of 10.5%, surpassing a market valuation of US$ 40.92 billion by 2033.
Growing desire in exploring deeper spiritual and religious connections is primarily driving the market. Many individuals are seeking deep travel experiences that let them discover and interact with spiritual or religious places.
More individuals are traveling to places that are significant to their faith or beliefs as a result of growing religious diversity and globalization. There is a growing interest in these individuals in participating in interfaith activities. They desire to gain insight into other cultures and religions. This is likely to open up the potential for faith-based tourism.
Faith-based tourism allows tourists to have genuine and meaningful experiences. This includes attending religious services, taking part in rituals, and interacting with the local population. This is consistent with the rising demand for immersive travel. Here, tourists aim to fully engage themselves in the cultures and customs of the places they visit.
Travel is becoming more affordable and accessible to a wider proportion of the population. Increased disposable incomes in many regions of the world are the reason behind this. A demand exists for faith-based tourism experiences as more individuals can travel on religious or spiritual pilgrimages to pursue their interests.
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Through the use of online reservation services, travel apps, and social media, traveling on a religious basis has never been easier or more convenient. Travelers now find it easy to plan, reserve, and share their faith-based travel adventures. This is likely to fuel the expansion of the faith-based tourism industry.
Key Takeaways
- The United States held a 7% share of the global faith-based tourism sector in 2022.
- Exhibiting a CAGR of 6.6% over the forecast period, the faith-based tourism market in India is predicted to develop rapidly.
- The faith-based tourism industry in Germany accounted for a 4% share of the global market in 2022.
- Based on type, the religious and heritage tours segment dominated the market and accounted for 37% of the global market in 2022.
- Based on tourist type, the domestic segment held a noteworthy share of 59% in 2022.
Competitive Landscape
Faith-based tourism market players include tour operators, travel agencies, and pilgrimage planners. Moreover, religious institutions, accommodation corporations, transportation businesses, and online travel agencies. They provide different services, including planning religious tours and pilgrimages, delivering spiritual experiences, and offering alternatives for lodging and transportation. In addition, they also arrange for well-informed guides, manage religious rituals, and provide cultural insights to meet the special requirements and interests of tourists.
Key Developments
- The Culture Travel Company was founded in 2017 by Martin Randall Travel Ltd. The goal of this invention is to provide top-notch cultural travel experiences at reasonable costs. The opening of this brand-new business provides customers with different tours, group dinners, and free time.
- Additional pilgrimages have been introduced by Regina Tours to both nearby and distant locations, including Canada, Mexico, Greece, Germany, Poland, and Ireland.
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Global Faith-based Tourism Market by Category
By Type:
- Day Trips & Local Gateways
- Museums
- Pilgrimages
- Religious and Heritage Tours
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Consumer Orientation:
- Men
- Women
- Children
By Age Group:
- 15 to 25 Years
- 26 to 35 Years
- 36 to 45 Years
- 46 to 55 Years
- 66 to 75 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa(MEA)
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