Breaking Faith: Australia's Population is Becoming Increasingly Secular, Reducing Industry Demand
Australia has become an increasingly secular nation over the past five years. This trend has posed challenges to the Religious Services industry. This trend has continued, despite high immigration rates from regions with strong religious adherence aside from 2020-21 which was a full year of international border closures. Overall, the decline in adherence to most traditional Christian faiths is outstripping growth in adherence to most non-Christian religions. As a result, revenue generated by religious groups is expected to decline at an annualised 5.1% over the five years through 2023-24, to $3.9 billion, with margins declining to 8.6%.
The industry consists of religious organisations operated for religious worship or for the promotion of religious activities. The industry includes churches, temples and monasteries. It also includes organisations primarily engaged in administering an organised religion.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Methodology
LOADING...
