According to FMI, India faith based tourism is expected to reach US$ 1025.57 million by the end of 2023. Between 2023 and 2033, the market is expected to reach US$ 3256.95 million. Travel and tour expenditures for religious purposes have doubled in recent years. A total of US$185 million has been delegated by the Government of India to the Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD) schemes for the development of tourist circuits.
The National Council for Applied Economic Research (NCAER) of Delhi shows that religious pilgrimages account for the largest portion of the 230 million tourists visiting India each year. Cultural exchange programs, workshops, and events may result from partnerships between religious and cultural organizations that allow tourists to experience local communities more deeply.
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The Lord Balaji festival at Tirupati brought 23 million people in 2022. According to statistics, Tirupati’s annual pilgrimage list outnumbers the total number of foreigners and domestic tourists visiting Delhi, Mumbai, Bangalore, and Kolkata. Developing collaboration with faith-based organizations, communities, and leaders in the field of travel can help expand and promote the company’s services. Furthermore, over 17 million devotees in Jammu and Kashmir walk 15 kilometers uphill every year on foot to pay tribute to Vaishno Devi. The devotees are even transported closer to the shrine by helicopter.
Key Takeaways from the Market Study
- According to estimates, the faith-based tourism market in India will reach US$ 3256.95 million by 2032.
- Based on tourist type, domestic tourists are expected to dominate the market through 2033.
- Due to various government policies and discounts, the women’s tourist population is expected to grow in numbers, and this trend is expected to continue.
- The market for faith based tourism in India is anticipated to record a growth rate of 16.2% between 2023 and 2033.
- Increased religious destinations will expand pilgrimage tourism in the next few years.
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“Government investment and rising projects is expected to grow demand for faith based tourism in India. The increasing popularity of meditation as a traditional practice and spirituality place is expected to draw a growing number of tourists in the coming years,” says an FMI analyst.
Competitive Landscape
India faith based tourism market players concentrate on strategic partnerships, new travel experiences, and digital India. The government also invests heavily in developing new projects to launch advanced vehicles and gain maximum market share.
- In August 2023, The Indian Railway Catering and Tourism Corporation Ltd., which promotes tourism on behalf of Indian Railways, completed a spiritual and religious journey. Close to a thousand devotees participated in the “12 Jyotirlinga Ram Katha Yatra.” The pilgrimage was successful.
In August 2023, West Bengal became the third state in foreign tourist arrivals (FTA) after Uttar Pradesh and Madhya Pradesh, both BJP-ruled states. Bengal got a 12.08 percent share of tourists last year, according to Tourism Statistics 2022 from the Union Tourism Ministry. An MoU (Memorandum of Understanding) was signed between West Bengal Tourism and FAITH in April 2022, for the development of a tourism roadmap. In the next eight years, FAITH will work closely with the state tourism department to establish Bengal as one of the country’s top tourism destinations.
Key Players
- Thomas Cook (India) Ltd
- Cox & Kings Ltd
- Mahindra Holidays & Resorts India Ltd
- MakeMyTrip
- Yatra Online Pvt Ltd
- International Travel House Ltd
- TravelGuru
- Expedia
- Ibibo Group
- SOTC Travel Limited
- Kesari Tours
- Indian Railways Catering and Tourism Corporation
- Cleartrip
- EasyMyTrip
- Balmer Lawrie Travel & Vacations
- redBus
- ixigo.com
- Others
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Know More about What the India Faith Based Tourism Market Report Covers
Future Market Insights offers an unbiased analysis of the global India faith based tourism market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the India faith based tourism market, the market is segmented based on tourism type, booking channel, tourist type, age group, consumer orientation, and tour type.
About Travel and Tourism at Future Market Insights
The travel and tourism team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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