Global Religious Tourism Market Overview
According to SPER Market Research, the Global Religious Tourism Market is estimated to reach USD 2.22 billion by 2032 with a CAGR of 6.25%.
A type of tourism known as "religious tourism," "sacred tourism," or "spiritual tourism" has two main subtypes: pilgrimage, which refers to travel made for spiritual or religious reasons, and examining religious structures and artifacts as a subtype of sightseeing. Religious travel, often referred to as faith travel, is the practice of traveling for religious or spiritual purposes by individuals or groups in search of a higher purpose. It might fall under missionary, pious, or recreational goals. The Religious Tourism Market is driven by an increase in population, an increase in disposable income, and a rise in consumer awareness of travel destinations. Low-cost air travel, an increase in leisure travel, and an increase in a number of international travel destinations are also driving factors.
Increasingly, young people are visiting religious monuments and artifacts to learn more. Growing Religious Tourism Popularity as a Way to Show Commitment to a Certain Faith and Growing Preference for Religious Travel Among the Over-50 Age Group are Two Market Driving Factors. Opportunities for market expansion are provided by government initiatives and budgetary allocations to promote spiritual tourism in nations like India. Religious tourism can be regarded as a top-tier type of travel Because it benefits the local culture and society, together with the financial benefits that may ultimately be invested in the preservation of the regional cultural and religious heritage, this type of tourism aids in increasing awareness of people's shared heritages, which aids in their preservation. Religious travel is a fantastic way to strengthen and build local communities. Tourists' interest in local culture and values fosters a sense of empowerment and pride in the neighborhood, its people, and its history. Of course, religious travel also boosts the local economy, creates jobs, and improves the standard of living.
Impact of COVID-19 on the Global Religious Tourism Market
The COVID-19 outbreak has had an impact on a number of areas, including travel restrictions and quarantines, restaurant closures, flight cancellations, restrictions on all indoor events, emergency declarations in numerous countries, a decline in business confidence, a significant slowdown in the supply chain, unpredictability in the stock market, escalating public panic, and uncertainty about the future. The epidemic has had an impact on the religious tourism industry. As many pilgrims place a lot of trust in their spiritual guides, it's possible that they won't practice the preventative health and hygiene practices necessary to stop the coronavirus from spreading. These are some market limitations, but key competitors are also providing different customisation options and extra benefits to loyal customers.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Sales Channel, By Religion Type, By Age Group
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | AAA Travel, Altour, American Express Global Business Travel, BCD Travel, Carlson Wagonlit Travel, China CYTS Tours Holding, China Travel, Corporate Travel Management, Direct Travel, Expedia Group, Fareportal/Travelong, Frosch, HRG North America, JTB Americas Group, Omega World Travel, Ovation Travel Group, Priceline Group, Travel and Transport, Travel Leaders Group, World Travel, Inc.
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Global Religious Tourism Market Segmentation:
1. By Type:
2. By Sales Channel:
3. By Religion Type:
- Buddhism
- Catholicism
- Confucianism
- Hinduism
- Islam
- Others
4. By Age Group:
- Below 30 Years
- 30-40 Years
- 40-50 Years
- Above 50 Years
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Religious Tourism Market (FY’2019-FY’2032)
- Overview of Global Religious Tourism Market
- Segmentation of Global Religious Tourism Market By Type (Domestic, International)
- Segmentation of Global Religious Tourism Market By Sales Channel (Offline, online)
- Segmentation of Global Religious Tourism Market By Religion Type (Buddhism, Catholicism, Confucianism, Hinduism, Islam, Others)
- Segmentation of Global Religious Tourism Market By Age Group (Below 30 Years, 30-40 Years, 40-50 Years, above 50 Years)
- Statistical Snap of Global Religious Tourism Market
- Global Religious Tourism Market Growth Analysis
- Problems and Challenges in Global Religious Tourism Market
- Global Religious Tourism Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Global Religious Tourism Market
- Details on Recent Investment in Global Religious Tourism Market
- Competitive Analysis of Global Religious Tourism Market
- Major Players in the Global Religious Tourism Market
- SWOT Analysis of Global Religious Tourism Market
- Global Religious Tourism Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Religious Tourism Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Religious Tourism Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Religious Tourism Market
7. Global Religious Tourism Market, By Type, 2019-2032 (USD Million)
7.1 Domestic
7.2 International
8. Global Religious Tourism Market, By Sales Channel, 2019-2032 (USD Million)
8.1 Offline
8.2 Online
9. Global Religious Tourism Market, By Religion Type,2019-2032 (USD Million)
9.1 Buddhism
9.2 Catholicism
9.3 Confucianism
9.4 Hinduism
9.5 Islam
9.6 Others
10. Global Religious Tourism Market, By Age Group, 2019-2032 (USD Million)
10.1 Below 30 Years
10.2 30-40 Years
10.3 40-50 Years
10.4 Above 50 Years
11. Global Religious Tourism Market, By Region, 2019-2032 (USD Million)
11.1 Global Religious Tourism Market and Market Share by Region (2019-2025)
11.2 Global Religious Tourism Market and Market Share by Region (2026-2032)
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Europe
11.4.1 France
11.4.2 Germany
11.4.3 Italy
11.4.4 Spain
11.4.5 United Kingdom
11.4.6 Rest of Europe
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 Rest of Middle East & Africa
11.6 North America
11.6.1 Canada
11.6.2 Mexico
11.6.3 United States
11.7 Latin America
11.7.1 Argentina
11.7.2 Brazil
11.7.3 Rest of Latin America
12. Company Profiles
12.1 AAA Travel
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 Altour
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 American Express Global Business Travel
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent developments
12.4 BCD Travel
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 Carlson Wagonlit Travel
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 China CYTS Tours Holding
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 China Travel
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
12.8 Corporate Travel Management
12.8.1 Company details
12.8.2 Financial outlook
12.8.3 Product summary
12.8.4 Recent developments
12.9 Direct Travel
12.9.1 Company details
12.9.2 Financial outlook
12.9.3 Product summary
12.9.4 Recent developments
12.10 Expedia Group
12.10.1 Company details
12.10.2 Financial outlook
12.10.3 Product summary
12.10.4 Recent developments
12.11 Fareportal/Travelong
12.11.1 Company details
12.11.2 Financial outlook
12.11.3 Product summary
12.11.4 Recent developments
12.12 Frosch
12.12.1 Company details
12.12.2 Financial outlook
12.12.3 Product summary
12.12.4 Recent developments
12.13 HRG North America
12.13.1 Company details
12.13.2 Financial outlook
12.13.3 Product summary
12.13.4 Recent developments
12.14 JTB Americas Group
12.14.1 Company details
12.14.2 Financial outlook
12.14.3 Product summary
12.14.4 Recent developments
12.15 Omega World Travel
12.15.1 Company details
12.15.2 Financial outlook
12.15.3 Product summary
12.15.4 Recent developments
12.16 Ovation Travel Group
12.16.1 Company details
12.16.2 Financial outlook
12.16.3 Product summary
12.16.4 Recent developments
12.17 Priceline Group
12.17.1 Company details
12.17.2 Financial outlook
12.17.3 Product summary
12.17.4 Recent developments
12.18 Travel and Transport
12.18.1 Company details
12.18.2 Financial outlook
12.18.3 Product summary
12.18.4 Recent developments
12.19 Travel Leaders Group
12.19.1 Company details
12.19.2 Financial outlook
12.19.3 Product summary
12.19.4 Recent developments
12.20 World Travel, Inc.
12.20.1 Company details
12.20.2 Financial outlook
12.20.3 Product summary
12.20.4 Recent developments
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
