According to Future Market Insights (FMI), the India faith based tourism market size is estimated at USD 1,025.57 million in 2023 at a CAGR of 16.2% from 2023 to 2033. Indian faith based tourism market share in its parent market is about 6%-11%.
Religion-based tourism has been recognized as of significant importance by the Indian government and efforts are being made to promote and develop these destinations. Government support for tourism includes improving infrastructure, preserving heritage sites, and facilitating travel and accommodations.
The religious heritage and cultural richness of India make religious tourism an important component of its overall tourism market. Few of such schemes are Government of India has set a target of 20 million foreign tourist arrivals by 2020 and aims to double foreign exchange earnings from the sector:
India's rich diversity of religious traditions may encourage travelers to explore and understand religious diversity through interfaith tourism. As a result, mutual respect and cultural understanding may be fostered in future.
Attribute | Details |
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India Faith Based Tourism Market Estimated Size (2023) | USD 1,025.57 million |
India Faith Based Tourism Market Projected Size | USD 4,602.85 million |
India Faith Based Tourism Market Value-based CAGR (2023 to 2033) | 16.2% |
The rapid growth of spiritual tourism in India is driving the Indian faith based tourism market. The Indian government's tourism programs, such as Pilgrimage Rejuvenation and Spirituality Augmentation Drive, are creating a positive outlook for the market.
The large number of tourists drawn to religious events is helping to grow the Indian faith based tourism market. Aside from that, the tourism, roadway, and railway sectors are working to improve connectivity between pilgrimage sites, thereby boosting market growth.
Another major growth driver is the expansion of online retail channels. Furthermore, the growing integration of virtual reality (VR) with religious and spiritual services is expected to propel the Indian faith based tourism market forward.
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The Indian economy's amazing success is the primary factor for the boosting the India faith based tourism market future trends. As a means of supporting faith-based tourism in India, the government has invested in transportation, lodging, better roads, health care, and hygiene.
The sector has invested in new technologies, such as art of security systems, to promote expansion of religious tourism. India is a really interesting nation with a lot to offer travellers. India's rich culture, tradition, and history alone attract a large number of religious tourists each year.
Religious tourism is both contributing to and benefiting from the country's overall growth in the travel and tourism sector. The dynamic India faith based tourism market growth trend has been shaped by a growing middle class and rising disposable income.
Aside from Indian residents, the segment's popularity among overseas Indians and foreigners has steadily increased over the years. With Yoga retreats and Ayurvedic spas gaining popularity among both domestic and foreign tourists, India faith based tourism market is taking on a spiritual and medical twist.
A growing number of domestic and international tourists seeking indigenous cultural experiences visit Rishikesh, Varanasi, Bodh Gaya, and Pondicherry to investigate the concept of holistic and sustainable living.
Foreign tourists' strong interest in retreats and spiritual travel has prompted the government to promote international inbound tourism by expanding the 'Tourist Visa on Arrival (TVOA) scheme' to 11 countries escalating the India faith based tourism market future trends.
A large number of Indians use social media; approximately 508 million Indians use social media platforms. This allows the player to aggressively market their deals and packages on sites such as Facebook, Instagram, and other social media platforms.
An increase in the number of travel bloggers has impacted positively in surge of the India faith based tourism adoption trends as well as the India faith based tourism market opportunities.
Travel blogs have grown in popularity as a source of travel information. Bloggers share their travel experiences and are typically regarded as reliable sources of information. They shape readers' attitudes and impressions of locations, influencing travel decisions.
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When it comes to India faith based tourism market, the government of India, along with other state governments, work hand in hand. The government recognizes the significance of tourism to the Indian economy.
Guidelines for the National Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD). The Indian government has cleared the way for the development and expansion of this section of Indian tourism.
Religious tour and travel spending has more than quadrupled in recent years. In line with this, the Government of India has allocated USD 185 million in the 2018-19 Budget for the development of tourism circuits under the Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD) initiatives.
The Government of India's Ministry of Tourism has launched the Adopt a Heritage: Apni Dharohar, Apni Pehchaan project, which is a collaborative effort between the Ministries of Tourism, Culture, the Department of Archaeology Survey of India, and State/UT Governments to develop tourism amenities at heritage/natural/tourist sites across India in a planned and phased manner.
The project's goal is to encourage government and non-government organizations, corporate citizens, charities, individuals, and other stakeholders to form Monument Mitras (Friends of Monuments) to construct and upgrade basic and specialized tourist amenities at these sites. Religious/faith-based tourism is expected to grow in the country as a result of these initiatives.
Companies are focusing on product development as well as specialized categories driving demand, creating opportunities for package customization. Faith-based tourism is growing in popularity in South Asia, pushing the Indian tourist industry.
Attribute | Details |
---|---|
Market Size Value in 2023 | USD 1,025.57 million |
Market Forecast Value in 2033 | USD 4,602.85 million |
Global Growth Rate | 16.2% CAGR |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | MT for Volume and USD million for Value |
Kay Segments Covered | Tourism Type, Booking Channel, Tourist Type, Age Group, Consumer Orientation, Tour Type, Region |
Key Companies Profiles | 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 |
Customization & Pricing | Available Upon Request |
The market is valued at USD 1,025.57 million in 2023.
The key trends are government support for tourism by improving infrastructure and facilitating travel and accommodations.
Governments allow Indian and foreign firms to innovate and create solutions for India's faith-based tourism market.
Faith-based tourism is especially popular with the aged and senior citizens aged 46-55 years old.
Thomas Cook (India) Ltd, Cox & Kings Ltd, and Mahindra Holidays & Resorts India Ltd are the key players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tourism Type 5.1. Day Trips & Local Gateways 5.2. Museums 5.3. Pilgrimages 5.4. Religious and Heritage Tours 5.5. Others 6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Booking Channel 6.1. Phone Booking 6.2. Online Booking 6.3. In Person Booking 7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tourist Type 7.1. Domestic 7.2. International 8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Age Group 8.1. 15-25 Years 8.2. 26-35 Years 8.3. 36-45 Years 8.4. 46-55 Years 8.5. 56-65 Years 8.6. 66-75 Years 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumer Orientation 9.1. Men 9.2. Women 9.3. Children 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tour Type 10.1. Independent Travellers 10.2. Tour Groups 10.3. Package Travellers 11. Market Structure Analysis 12. Competition Analysis 12.1. Thomas Cook (India) Ltd 12.2. Cox & Kings Ltd 12.3. Mahindra Holidays & Resorts India Ltd 12.4. MakeMyTrip 12.5. Yatra Online Pvt Ltd 12.6. International Travel House Ltd 12.7. TravelGuru 12.8. Expedia 12.9. Ibibo Group 12.10. SOTC Travel Limited 12.11. Kesari Tours 12.12. Indian Railways Catering and Tourism Corporation 12.13. Cleartrip 12.14. EasyMyTrip 12.15. Balmer Lawrie Travel & Vacations 12.16. redBus 12.17. ixigo.com 13. Assumptions & Acronyms Used 14. Research Methodology
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