The Brazil faith based tourism market is expected to register a CAGR of 9.3% during the forecast period. In 2023, the market valuation is expected to be US$ 982.97 million. By 2033, the numbers are expected to breach the mark of US$ 2,391.89 million.
The faith based tourist destinations are surrounded by majestic landscapes, which also encompass beautiful beaches and breathtaking waterfalls. Moreover, the climate is simply perfect throughout the year. Except during the peak summers, the climate is soothing at other parts of the year. If people want to escape extreme winters, Brazil is the perfect destination, and people across the world throng to faith based destinations.
People across age groups have started accepting spirituality, and owing to this they undertake spiritual journeys. More and more youth are turning towards spirituality to address their unresolved problems, which might relate to any realm of life. Therefore, a lot of them venture into sojourns in these faith based destinations in Brazil to find the answers. This is expected to increase the market growth during the forecast period.
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The Brazil government has been involved in several key initiatives. In April 2022, the government launched the ‘Safe Tourism Program’ for making tourism safer in Brazil. The focus areas are public security, prevention of sexual exploitation, consumer relations, tourist transport, civil defense, health surveillance, and positive communication.
The government has also been generous in distributing tourist visas. In 2022, the government distributed more than 80,000 visas. The numbers are expected to surge by the end of 2023. Such strong government initiatives are expected to surge the demand for Brazil faith based tourism.
The prevalence of social media helps people get to know beautiful tourist destinations. This can be in the form of shorts, reels, and posts. The booming social media presents massive opportunities in front of the market.
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Key Takeaways:
- The CAGR is projected to be at 9.3% between 2023 and 2033.
- In 2023, the market size is expected to be US$ 982.97 million.
- By 2033, the valuation is expected to cross US$ 2,391.89 million.
- Based on the booking channel, the online booking channel is expected to hold the leading market share.
- On the basis of age group, the 46-55 years segment is expected to hold the dominant market share.
- Based on tour type, the package travelers segment is expected to hold the leading market share.
- On the basis of tourist type, the domestic segment is expected to record the dominant market share.
Key Players:
- rip Brazil
- BrazilVacatipn.travel
- Mauricio Travels
- Bromelia Brazil Travel
- LatinDiscoveries
- Terra Brazil
- Around SP
- Favela Walking tour
- Nattrip
- Cook in Rio
- Uniglobe Travel Brazil
- Uai Brazil Tour
Competitive Landscape
Owing to government involvement, the key players might be wanting to enter into strategic partnerships with the government authorities. One of the main strategies might be to acquire small local firms. This may help the key players to gain a better understanding of the market. The move might also help in increasing the market share. One of the key areas is to focus on the sustainability aspect of the business. To achieve this, manufacturers are adopting environmentally friendly practices, like making use of renewable sources of energy to run their businesses.
Key developments in the market:
- In January 2023, Expedia Group’s Greg Schulze was appointed to the United States travel and tourism advisory board.
- In April 2022, TripMoney, MakeMyTrip’s fintech arm, bought a huge stake in India’s leading online Foreign Exchange Services Provider, BookMyForex.
Market Segmentation
By Tourism 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 Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
By Consumer Orientation:
- Men
- Women
- Children
By Tour Type:
- Independent Travelers
- Tour Groups
- Package Travelers
By Region:
- Brazil
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