Investment is one of the key factors in the sustainable development of religious tourism, and the continued attraction of investors in this field depends on the economic and financial attractiveness of investment opportunities. However, identifying the factors that shape this attractiveness and determining its role in the realization and sustainability of investor attraction remain among the major challenges in religious tourism. Accordingly, the present study aims to design and test a structural model of the economic and financial attractiveness of investment and to explain its effect on the realization and sustainability of investor attraction in religious tourism. In this model, the institutional environment and governance of religious investment, along with the infrastructure and capabilities of religious destinations, are considered antecedent constructs; the economic and financial attractiveness of investment is considered a mediating construct; and the realization and sustainability of investor attraction is considered the outcome construct.
In terms of purpose, this study is applied, and in terms of data collection method, it is descriptive-survey research. The statistical population consisted of active investors in tourism and religious tourism, managers and experts of related organizations, and tourism economics specialists in 1404. Purposeful judgmental sampling was used, and 100 individuals were selected as the sample. Data were collected using a researcher-made questionnaire and analyzed through structural equation modeling . The results showed that the infrastructure and capabilities of religious destinations, as well as the institutional environment and governance of religious investment, have a positive and significant effect on the economic.