The UAE Faith Based Tourism Market is expected to be valued at US$ 326.83 million in 2023. By 2033, the figures are expected to surge beyond US$ 1,322.21 million. The expected CAGR during the forecast period is 15%.
One of the key factors which might surge the count of tourists is the fact that the place is being endorsed by well-known personalities. Shahrukh Khan and Lewis Hamilton are some of the famous personalities who have been promoting the UAE faith based tourism. There are a lot of people worldwide who get swayed by their actions. This might increase the demand for UAE faith based tourism.
The UAE has been the epitome of peaceful coexistence and mutual brotherhood. People belonging to different religions are allowed to visit certain mosques. Moreover, the crown prince has been monitoring the development of certain famous temples in the country. Such developments are expected to surge the adoption rate in the future.
Internet and smartphones have also played a key role in the growth of the market. They have ensured that booking tickets is a hassle-free process, and instead of standing in the market for hours, the customers can book the tickets immediately. Moreover, the tourists also get to customize the plan and compare the prices offered by different vendors.
The market growth is also fueled by the surging involvement of Gen Z. The people belonging to this age group are willing to explore new places, and this is something that the manufacturers can take advantage of.
Supercharge Your Knowledge: Dive into the Booming UAE Faith Based Tourism Market with Our Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-15331
However, strict laws and an extremely hot climate might challenge market growth.
Thus, from the research findings of FMI analysts, it can be inferred that ‘endorsements by famous personalities, the existence of a peaceful environment, increased smartphone penetration, and a lot of other factors are expected to surge UAE faith based tourism market share during the forecast period.’
Key Takeaways:
- The market is expected to record a CAGR of 15%.
- In 2023, the market valuation is expected to be at US$ 326.83 million.
- By 2033, the valuation is expected to surge past US$ 1,322.21 million.
- As per FMI analysis, Sheikh Zayed Mosque in Abu Dhabi is expected to be the preferred destination.
- Based on the booking channel, the online channel is expected to hold the dominant market share.
- Based on age group, the 26 to 35 years segment is expected to hold a substantial chunk of the market.
- Based on orientation, the men’s segment is expected to hold the dominant market share. The women’s segment is expected to record a higher CAGR.
Competitive Landscape
The key players operating in the UAE faith based tourism market are making moves to enter into strategic partnerships. This is done in a bid to access resources from other niches, which may help surge the market share. The manufacturers are also investing in mergers and acquisitions, which may help the key players serve the UAE tourism sector in a better manner. One of the most important moves is to form alliances with government bodies to ensure the seamless functioning of various activities. The manufacturers are also providing customized itineraries based on the age groups that are involved in booking the tickets.
Key developments in the market:
- In November 2022, Expedia Group’s white label template powered Accor’s new site, flight + hotel, allowing travelers to seamlessly add flights to their hotel bookings.
- In January 2023, CRISIL upgraded the rating outlook of Thomas Cook India to stable, which reaffirms the long-term rating: CRISIL A+.
Your Market, Your Insights: Request Customizations to Optimize Your UAE Faith Based Tourism Market Approach! https://www.futuremarketinsights.com/customization-available/rep-gb-15331
Market Segmentation
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
By Region:
The United Arab Emirates
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com