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          1. Religious Organizations Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 7/20/2020
            SIC Codes: 8661
            NAICS Codes: 8131
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Religious Organizations Industry Profile

            Religious organizations operate churches, temples, monasteries, mosques, and similar places of worship. The largest groups include Christians, Muslims, and Hindus; major types of Christian churches include Catholic, Protestant, and Eastern Orthodox.

            Religious organizations count about 6 billion followers worldwide, or about 85% of the population. Christians account for about one-third of the world's population, followed by Muslims (25%), and Hindus (15%), according to the Pew Research Center. Among the world's Christian denominations, Catholics are the most numerous. Sizes of individual congregations vary greatly.

            In the US, religious organizations encompass about 312,000 congregations, according to The Urban Institute and the National Center for Charitable Statistics and American Church Lists. About 70% of Americans identify as Christian, according to the Pew Research Center. Protestants represent the largest share of Christians in the US.

            COMPETITIVE LANDSCAPE

            Demand is driven by consumers' desire for spiritual growth, guidance, inspiration, and demographics — older Americans are most likely to attend church. The profitability of a church depends primarily on the congregation's ability to attract members who can provide financial support. Large congregations have advantages in their ability to offer more programs and activities. Small congregations can compete effectively by maintaining stronger connections with members.

            More than half of Americans belong to a church or synagogue, while more than one-third of Americans say they attend services weekly or almost every week, according to Gallup. Major factors for attending a place ...

             
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