Do economic determinants influence a faith phenomenon? Analysis of international pilgrimages to the Shrine of Fátima

Abstract

The economy is part of everyday life in modern societies and is a crucial determinant of social well-being. For this reason, it is important to observe how economic determinants can influence a fundamental social phenomenon: faith. This paper analyzes how economic determinants influence international pilgrimages to the Shrine of Fátima (Portugal). A data panel from 2008 to 2022 was constructed, and a panel ARDL model was estimated. The results confirm the relationship between economics and homo religiosus. The cost of transportation, national income, unemployment, globalization, and inflation influence the international pilgrimages to Fátima.

Keywords

• Pilgrimage; Economic determinants; Panel data analysis; Economics of Religion; Religious tourism; Shrine of Fatima.