Religious Tourism Market Growth, Share, Size, Trends, Revenue, Competition and Future Outlook
Religious Tourism Market Size- By Type, By Sales Channel, By Religion Type, By Age Group- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Apr-2023 | Report ID: TRAT2307 | Pages: 1 - 244 | Formats*: |
| Category : Travel & Tourism | |||
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 |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| 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. |
Global Religious Tourism Market Segmentation:
1. By Type:
- Domestic
- International
2. By Sales Channel:
- Offline
- Online
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 report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges4.2. COVID-19 Impacts of the Global Religious Tourism Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Religious Tourism Manufacturing Base Distribution, Sales Area, Product Type6.2 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 Domestic7.2 International
8. Global Religious Tourism Market, By Sales Channel, 2019-2032 (USD Million)
8.1 Offline8.2 Online
9. Global Religious Tourism Market, By Religion Type,2019-2032 (USD Million)
9.1 Buddhism9.2 Catholicism9.3 Confucianism9.4 Hinduism9.5 Islam9.6 Others
10. Global Religious Tourism Market, By Age Group, 2019-2032 (USD Million)
10.1 Below 30 Years10.2 30-40 Years10.3 40-50 Years10.4 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-Pacific11.3.1 Australia11.3.2 China11.3.3 India11.3.4 Japan11.3.5 South Korea11.3.6 Rest of Asia-Pacific11.4 Europe11.4.1 France11.4.2 Germany11.4.3 Italy11.4.4 Spain11.4.5 United Kingdom
11.4.6 Rest of Europe
11.5 Middle East and Africa11.5.1 Kingdom of Saudi Arabia11.5.2 United Arab Emirates11.5.3 Rest of Middle East & Africa11.6 North America11.6.1 Canada11.6.2 Mexico11.6.3 United States11.7 Latin America11.7.1 Argentina11.7.2 Brazil11.7.3 Rest of Latin America
12. Company Profiles
12.1 AAA Travel12.1.1 Company details12.1.2 Financial outlook12.1.3 Product summary12.1.4 Recent developments12.2 Altour12.2.1 Company details12.2.2 Financial outlook12.2.3 Product summary12.2.4 Recent developments12.3 American Express Global Business Travel12.3.1 Company details12.3.2 Financial outlook12.3.3 Product summary12.3.4 Recent developments12.4 BCD Travel12.4.1 Company details12.4.2 Financial outlook12.4.3 Product summary12.4.4 Recent developments12.5 Carlson Wagonlit Travel12.5.1 Company details12.5.2 Financial outlook12.5.3 Product summary12.5.4 Recent developments12.6 China CYTS Tours Holding12.6.1 Company details12.6.2 Financial outlook12.6.3 Product summary12.6.4 Recent developments12.7 China Travel12.7.1 Company details12.7.2 Financial outlook12.7.3 Product summary12.7.4 Recent developments12.8 Corporate Travel Management12.8.1 Company details12.8.2 Financial outlook12.8.3 Product summary12.8.4 Recent developments12.9 Direct Travel12.9.1 Company details12.9.2 Financial outlook12.9.3 Product summary12.9.4 Recent developments12.10 Expedia Group12.10.1 Company details12.10.2 Financial outlook12.10.3 Product summary12.10.4 Recent developments12.11 Fareportal/Travelong12.11.1 Company details12.11.2 Financial outlook12.11.3 Product summary12.11.4 Recent developments12.12 Frosch12.12.1 Company details12.12.2 Financial outlook12.12.3 Product summary12.12.4 Recent developments12.13 HRG North America12.13.1 Company details12.13.2 Financial outlook12.13.3 Product summary12.13.4 Recent developments12.14 JTB Americas Group12.14.1 Company details12.14.2 Financial outlook12.14.3 Product summary12.14.4 Recent developments12.15 Omega World Travel12.15.1 Company details12.15.2 Financial outlook12.15.3 Product summary12.15.4 Recent developments12.16 Ovation Travel Group12.16.1 Company details12.16.2 Financial outlook12.16.3 Product summary12.16.4 Recent developments12.17 Priceline Group12.17.1 Company details12.17.2 Financial outlook12.17.3 Product summary12.17.4 Recent developments12.18 Travel and Transport12.18.1 Company details12.18.2 Financial outlook12.18.3 Product summary12.18.4 Recent developments12.19 Travel Leaders Group12.19.1 Company details12.19.2 Financial outlook12.19.3 Product summary12.19.4 Recent developments12.20 World Travel, Inc.12.20.1 Company details12.20.2 Financial outlook12.20.3 Product summary12.20.4 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.
Frequently Asked Questions About This Report
Religious Tourism Market is projected to reach USD 2.22 billion by 2032, growing at a CAGR of 6.25% during the forecast period.
Religious Tourism Market grew in market size from 2021. The Market is expected to reach USD 2.22 billion by 2032, at a CAGR of 6.25% during the forecast period.
Religious Tourism Market CAGR of 6.25% during the forecast period.
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Religious Tourism Market size is USD 2.22 billion from 2022 to 2032.
Religious Tourism Market Segment is Covered By Product Category, By Type, By Sales Channel, By Religion Type, By Age Group
The North America region is anticipated to have the highest market share in Religious Tourism Market.
The key players in the market include 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.
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.
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