Egypt Faith Based Tourism Market Seems To Be Heading For Long-Term Success: FMI

The Egypt faith-based tourism market is poised to reach a valuation of US$ 176 Mn in 2022. Demand is projected to increase at a 10.8% CAGR during the forecast period.

For both casual visitors and devoted adherents of the various systems of religion depicted, religious buildings, rituals, festivals, and ceremonial events are important tourism attractions. Furthermore, the market for faith-based tourism in Egypt now includes a sizable portion of religious tourism.

Tourism-related revenue was down roughly 70% to $4 billion in 2020. Egypt’s visitor numbers had dropped to 3.5 million in 2020, according to Tourism and Antiquities Minister Khaled El-Enany. Egypt’s tourism earnings fell by around 70% to US$4 billion in 2020, lowering visitor visits to 3.5 million from 13.1 million in 2019.

However, the growth is moderate as travel companies have thrived in recent years as faith-based tourism has increased, with many making group bookings in hotels and helping to drive occupancy rates up. Egypt’s faith-based tourism market growth is attributed to the major international hotel chains having launched new projects in Egypt, with a concentration on Cairo and its surroundings.

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Greater demand from travel agencies around the country demonstrates growth in both business and leisure tourism, as private investors telegraph ambitions for wider expansion. As part of its 2018 E-TRP plan, the MoTA is intending to expand the total number of hotel rooms from 89,993 in 2018 to 238,114 rooms by 2030.

Key Takeaways from the Egypt Faith-Based Tourism Market Study

  • Egypt-based tourism is predicted to have a CAGR of 8% during the forecast period.
  • Based on tourism type, religious and heritage tours are predicted to grow at a CAGR of ~0% in the Egypt faith-based tourism market through 2032.
  • Egypt’s faith-based tourism market top players accounted for approximately 4%-9% of the total share.
  • By booking channels, the online booking segment is anticipated to hold a noteworthy share of ~22%.
  • In terms of age group, market demand among the age group of the 36-45 segment is likely to continue gaining traction through 2032.
  • Based on tourist type, the international tourist segment is expected to remain high over the forecast period.

Egypt’s tourist business has been revitalized by the country’s efforts to position itself as a world leader in antiquities tourism, as well as the expansion of its conventional sun-and-sea attractions.” Says FMI analyst.

How fresh Initiatives Are Giving Egypt’s Faith-Based Tourism Market players An Advantage?

Leading faith-based tourism companies in Egypt are concentrating on marketing strategies and promoting popular tourist destinations in order to improve market demand.

Due to the expanding user base of internet applications, many tourism-related firms, including airlines, hotels, and travel agencies, are now able to use the internet as a competitive strategy.

The major key players in the faith-based tourism market are Holiday Tours, Memphis Tours, Egypt Tours, Oriental Tours Egypt, Deluxe Tours Egypt, Egypt Guided Tours, Cleopatra Egypt Tours, Look at Egypt Tours, Egypt Tour Portal, Select Egypt, Egypt Luxury Tours, Ramasside Tours, Spring Tours, Egypt-Downtown Branch, Lady Egypt Tour, Travel Joy- Egypt Tours, Egypt Nile Cruises- Min Travel, Travel Egypt Toursamong, others.

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Egypt Faith Based Tourism Market by Category

By Tourism Type:

  • Day Trips & Local Gateways
  • Museums
  • Pilgrimages
  • Religious and Heritage Tour
  • 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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Future Market Insights (ESOMAR certified 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.

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