INDIA FAITH BASED TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The India faith based tourism market is estimated to be valued at USD 1,180.4 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 15.1% from 2024 to 2031. India has a diverse culture embedded with religious aspects. With growing religious tourism worldwide, the India faith based tourism market is emerging as a lucrative segment. India is home to major world religions like Hinduism, Buddhism, Jainism, Sikhism, and others, making it a rich landscape for faith based experiences. Various religious sites, temples, mosques, churches, ashrams, and monasteries attract millions of both domestic and international pilgrims and tourists every year. The market is largely driven by devotees and pilgrims visiting religious destinations like Varanasi, Mumbai, Amritsar, Bengaluru, and major centers of different religions. However, with increasing niche interest in experiential and cultural tourism, even casual travelers are opting for faith-based itineraries combining landscapes, rituals and local way of life. This presents significant opportunities for the market to grow.
Market Dynamics:
The India faith based tourism market is primarily driven by growing domestic religious tourism and significant investments in the infrastructure development of major pilgrimage sites. India receives the highest number of pilgrims visiting religious sites like Vaishno Devi shrine and Tirupati Balaji temple annually. Growing connectivity and transport facilities have made remote religious places more accessible, boosting regional faith tourism inbound. Moreover, government initiatives promoting religious circuits as experiential tourism draws both international & domestic travelers. However, lack of standardized facilities, services across sites act as a restraint. The market also faces threat from rising cases of crimes/frauds pulling tourist footfalls in some areas. Nevertheless, opportunities lie in promoting lesser known monasteries and shrines through targeted campaigns, online presence, and building an organized faith tourism circuit, integrating multiple destinations across states. This would aid in expanding the market reach as well as augmenting benefits among local communities.
Key Features of the Study:
Market Segmentation
Market Segmentation
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