Industry Analysis & Industry Trends
Over the past five years, the industry suffered setbacks as people's religious beliefs weakened. Slowing participation numbers and donations, increased skepticism among younger generations and new religions brought stateside by immigrants are trends that will likely continue to occur over the next five years. Despite lower church attendance, revenue will experience slow growth as higher disposable incomes allow individuals to make more donations... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Religious Organizations industry is in the declining stage of its industry life cycle. Industry value added (IVA), which measures the industry's contribution to the overall economy, is forecast to increase marginally by an annualized 0.5% over the ten years to 2021. By comparison, GDP is projected to grow at an average rate of 2.1% per year over the same ten-year period. Consequently, the industry's contribution to the overall economy is contracting, which indicates a declining industry.
Public confidence in organized religion has declined over the past five years. This was matched by a growing percentage of individuals with no religious beliefs or no affiliation with an organized religious group... purchase to read more