June 17, 2024
Religious Tourism Market

Religious Tourism Market Witnesses Growth Due To Rising Spiritual Inclinations Among Millennials

The religious tourism market provides a variety of religious pilgrimages, prayer tours, faith-based tours and mission trips that cater to the spiritual needs and beliefs of individuals across different faiths. Religious tourism offers experiences such as visiting places of worship, shrines, festivals and events that hold religious significance. The market is estimated to be valued at US$ 2,010.41 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the Religious Tourism Market Growth are Holy Voyages, Gil Travel Group, Heritage Tours & Travels, Best Way Tours & Safaris, Regina Tours, Travelway Europe, SpainTOP, 206 Tours Inc., Indus Travels Inc., Brightspark Travel Inc., Wendy Wu Tours, ACE Cultural Tours, Kesari Tours Pvt Ltd, Go Thailand Tours, N.S. Travel & Tours Co., Ltd, Vansol Travel & Tours, Catholic Travel Centre, Amiel Tours LTD, Israel Travel Providers, LLC, and Maranatha Tours.

The religious tourism industry offers several opportunities for growth including personalized spiritual experiences, wellness retreats combining faith practices with mindfulness, and niche interest tours focused on lesser known religious sites and festivals. Furthermore, the expanding middle-class in emerging economies and their rising disposable incomes is driving the global expansion of the religious tourism market.

Rising spiritual inclinations, especially among millennials and generation Z who are looking to reconnect with their faith through experiential travel, is one of the key drivers boosting the religious tourism market. Their interest in unique experiences that are Instagram-worthy is encouraging tourism boards to promote lesser-known religious sites and cultural heritage spots. This is attracting more young travelers and pilgrims to spots across the globe.

PEST Analysis

Political: Travel to religious places has often been impacted by political decisions and tensions. Changes in visa policies, security situation, or other geopolitical issues can influence the flow of religious tourists.

Economic: The religious tourism market is sensitive to changes in the global and domestic economy. Economic downturns typically reduce discretionary spending on travel, impacting religious tourism.

Social: Factors like increasing secularism, changing demographics and lifestyles influence the propensity of people to undertake religious pilgrimages and tours. Social media is also enabling new forms of engagement with faith-based destinations.

Technological: Technologies like virtual/augmented reality and live streaming are enabling new ways to experience religious sites virtually. Booking platforms and travel apps have made planning religious tours more convenient.

Geographical concentration

The religious tourism market is geographically concentrated in some regions due to their religious significance. The Holy Land (Israel and Palestine) attracts over 2 million Christian pilgrims annually to sites associated with Jesus. Mecca and Medina in Saudi Arabia see enormous inflows during the Hajj pilgrimage each year, with Umrah pilgrims also frequenting. India is a major destination with over 10 million religious tourists visiting annual events and shrines of importance to Hindus, Muslims, Sikhs, Jains and Buddhists. Significant volumes of Catholic pilgrims also visit the Vatican City and shrines in Italy, France and Spain.

Fastest growing region

Asia Pacific is expected to witness the fastest growth in the religious tourism market over the forecast period. This is owing to increasing inclination towards spiritual travel among the large populations of India and China. India in particular has vast untapped potential considering the thousands of temples and pilgrimage circuits spread across its states. Pilgrimage tourism is being actively promoted by authorities to boost visitor numbers. Countries like Malaysia, Thailand, Indonesia, Japan and Vietnam are also leveraging their Buddhist heritage and traditions to attract more religious explorers. Rising affluence, willingness to spend on experiences and global marketing initiatives will catapult the Asia Pacific region to the forefront of religious tourism growth in the long run.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.