New York, 16 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Religious Organizations Global Market Report 2022” – https://www.reportlinker.com/p06229729/?utm_source=GNW
The global market for religious organizations is expected to grow from $326.00 billion in 2021 to $351.33 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $449.99 billion in 2026 with a CAGR of 6.4%.
The religious organization market includes sales of religious services by entities (organizations, sole proprietorships, and partnerships) that operate religious establishments such as churches, temples, monasteries, and similar places of worship, and/or administer an organized religion or promote religious activities. .This market includes donations received by religious organizations.
Only goods and services exchanged between entities or sold to final consumers are included.
The main types of religious organizations are public organizations, private organizations and individuals.
The different religious groups include Christians, Muslims, Hindus and others. The various sources of income include religious tourism, donations, media and music, religious articles and goods, construction and infrastructure, etc.
The growth in disposable income is contributing to the market for religious organizations. Growing economic conditions lead to higher disposable income which encourages individuals to participate and contribute to charitable events.
According to an OECD report in Australia, the average household net adjusted disposable income per capita is $684,635 per year. In 2020, real household income growth in Australia exceeded real GDP growth by 4.38 percentage points. On average, overall, household savings are 10.26 percentage points. Household savings from net disposable income is 209.89 percentage points. Hence, the growth in disposable income is driving the market for religious organizations.
There has been a marked increase in legal and political restrictions on religion around the world. The increase in restrictions on religion is mainly due to social hostilities involving religion, including violence and harassment by individuals, organizations or groups, and government favoritism towards religious groups. .
The government restricts a religion by imposing laws, policies, and actions by state officials that restrict religious beliefs and practices, or by funding religious education, property, and clergy. For example, in India, national and state laws (such as freedom of religion laws or anti-conversion laws) are used to violate the religious freedom of minority communities.
These laws were enacted to regulate religious conversions. Further, religious discrimination is seen as a direct attack on an individual’s belief system.
For example, a study of Christians in the United States, published in SpringerLink Journal of Religion, found that perceived religious discrimination was associated with stress among individuals who perceived themselves as members of a sociocultural (but not numerical) minority group. .
The use of technology is increasingly used by religious organizations to leverage the strengths of the religious organization for social impact. For example, Goodlands is a start-up that uses geographic data to map Catholic church lands around the world.
It uses Geographic Information System (GIS) software to create a map of the Roman Catholic Church around the world with boundaries and layer upon layer of data about the church and environmental contexts, then uses the assets land to create new ways to channel them for social good.
North America was the largest region in the religious organization market in 2021. Asia-Pacific was the second largest region in the religious organization market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Countries covered in the Religious Organizations market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and the United States.
Read the full report: https://www.reportlinker.com/p06229729/?utm_source=GNW
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