NEWARK, Del, Aug. 02, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the U.S. faith based tourism market is poised to reach a valuation of US$ 1,001 Mn in 2022. Sales in the U.S. faith based tourism market are projected to increase at 9.2% CAGR from 2022 to 2032.
The religious sector has drawn a large number of people to sites of attraction such as shrines and home places of deities since time immemorial. With the passage of time, the concept has evolved to spiritual tourism, in which, visiting religious believers are treated as tourists as they are looking for ways to market their visit as a vacation in addition to fulfilling their religious purpose.
Faith based tourism is expected to broaden the travel industry in the U.S. The Roman Catholic Church has effectively implemented pilgrimage traditions in the country, thereby establishing a variety of pilgrimage locations complete with sacred relics of martyrs, miracles & healing stories, Marian apparitions, and patron saints.
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Key Takeaways: U.S. Faith Based Tourism Market
- By booking channel, the online booking segment is expected to generate a significant share of 45% in the U.S. faith based tourism market.
- In terms of age group, the 46-55 years’ segment is anticipated to hold the lion’s share through 2032.
- By tourist type, the domestic segment is likely to remain at the forefront in terms of share during the forecast period.
- In terms of tour type, the package travelers segment is anticipated to generate the largest share of the U.S. faith based tourism industry.
- Based on tourism type, the religious and heritage tours segment is expected to dominate the U.S. faith based tourism market.
“High demand for more authentic experiences among tourists such as immersing themselves in spiritual and cultural traditions associated with a religion or pilgrimage site would drive the faith based tourism market in the U.S.," says a FMI analyst.
Competitive Landscape: U.S. Faith Based Tourism Market
Leading companies in the U.S. faith based tourism market are focusing on robust promotional strategies such as advertisements, as well as new package launches to generate high sales.
Leading companies in the U.S. faith based tourism industry include Expedia Group, Booking Holdings, American Express Global Business Travel, BCD Travel, CWT, Flight Centre, Travel Leaders Group, American Express, Direct Travel, Corporate Travel Management North America, Fareportal, American Automobile Association, Travel and Transport, Frosch, and Omega World Travel among others.
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U.S. Faith Based Tourism Market Outlook by Category
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
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About Travel & Tourism Division at Future Market Insights
The travel & tourism team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the travel & tourism industry, the team is happy to help with every business intelligence research and consulting requirement.
Table of Content
1. Executive Summary
1.1. U.S. Faith Based Tourism Market Outlook
1.1.1. Who Is Travelling?
1.1.2. How Much Do They Spend?
1.1.3. Direct Contribution of Tourism To GDP
1.1.4. Direct Contribution of Tourism To Employment
1.2. Faith-Based Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Total Spending (US$ Mn) and Forecast (2022-2032)
2.2. Number of Tourists (Mn) and Forecast (2022-2032)
2.3. Total Spending Y-o-Y Growth Projections (2022-2032)
2.4. Number of Tourists Y-o-Y Growth Projections
3. Faith-Based Tourism Industry Analysis
3.1. Faith-Based Tourism Industry Overview
3.1.1. Faith-Based Tourism Industry Contribution to US’s GDP
3.1.2. Faith-Based Tourism Sector Contribution to US’s Overall Employment
3.1.3. Impact of Covid-19
3.1.4. Others
4. U.S. Faith Based Tourism Market Dynamics
4.1. Market Drivers & Opportunities
4.1.1. Rapid Development of Infrastructure Boosting Growth in the Market
4.1.2. Rising Number of Government Initiatives to Promote Tourism Industry
4.1.3. Others (During Course Study)
5. Market Background
5.1. Macro-Economic Factors
5.1.1. US GDP Growth Outlook
5.1.2. US Industry Value Added
5.1.3. Consumer Spending Outlook
Have a Look at Related Research Reports of Travel & Tourism
Faith Based Tourism Market Size: The global faith based tourism market is estimated to reach US$ 13.7 Bn in 2022. As per the report, sales are forecast to increase at a robust 10% CAGR, with the market valuation reaching US$ 37 Bn by 2032
Jordan Faith-based Tourism Market Share: As per newly released data by Future Market Insights (FMI), the Jordan faith-based tourism market is projected to total US$ 155 Mn in 2022, expanding at a CAGR of 15.3% over the assessment period.
Japan Faith-based Tourism Market Trends: The Japan faith-based tourism market size is projected to surpass US$ 447 Mn in 2022. As per the report, sales are projected to increase at a CAGR of 10.5% over the assessment period
South Africa Faith-Based Tourism Market Demand: South Africa faith-based tourism market size is estimated to reach US$ 72 Mn in 2022, with demand slated to surge at an 8.4% CAGR over the forecast period
Egypt Faith Based Tourism Market Analysis: As per newly released data by Future Market Insights (FMI), the Egypt faith-based tourism market is estimated at USD 176 million in 2022, at a CAGR of 10.5% from 2017 to 2021
Brazil Faith Based Tourism Market Sales: The Brazil faith based tourism market size is estimated at US$ 911 Mn in 2022 and is further projected to grow at a CAGR of 7.5% between 2022 to 2032
UAE Faith Based Tourism Market Types: The UAE faith based tourism market size is estimated to reach a valuation of US$ 290 Mn in 2022. The market is projected to exhibit astonishing growth at a CAGR of 12.7% in the forecast period from 2022 to 2032
India Faith based Tourism Market Outlook: As per newly released data by Future Market Insights (FMI), the Indian faith based tourism market size is estimated at USD 902 million in 2022 at a CAGR of 13% from 2017 to 2021
Indonesia Faith-based Tourism Market Value: The Indonesia faith-based tourism market is forecast to reach US$ 292 Mn in 2022, with demand growing at a 11.3% CAGR over the assessment period
Italy Culinary Tourism Market Forecast: The Italy culinary tourism market is estimated to reach US$ 34,903 Mn in 2022. Sales are expected to surge at a robust 15.2% CAGR during the forecast period from 2022 to 2032
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