The global market valuation of the halal tourism industry is expected to reach US$ 417.6 billion by 2034, rising at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2034. In 2023, the market share was forecast to be worth US$ 266.3 billion.
The “halal” term means permissible according to Islamic laws and teachings. With a rise in the number of well-heeled Muslims, the halal industry has expanded into various lifestyle offerings including halal travel, tourism, and hospitality services. The halal tourism is a particular type of religious tourism which focusses on the things which are in conformity with the Islamic laws and teachings regarding diet, dressing, conduct, and behaviourisms.
The global halal tourism industry has been accounted as one of the fastest growing tourism segments in the world. The recent development in the global halal travel and tourism industry is caused by the ethical consumer trends and the change in the temperament of Muslim consumers globally.
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The halal tourism market is experiencing a surge in popularity! Driven by a growing Muslim population and a rising demand for travel experiences that cater to their specific needs, the industry is poised for continued growth.
Understanding the Demand:
Muslim travelers seek experiences that align with their faith and values. This includes:
- Accommodation: Hotels and resorts that offer prayer facilities, halal food options, and alcohol-free environments.
- Activities: Destinations with cultural attractions, sightseeing tours, and recreational activities that are family-friendly and halal-compliant.
- Travel Services: Travel agencies that specialize in halal travel packages, ensuring a seamless and culturally sensitive experience.
Strategies for Success:
Companies can capitalize on this booming market by implementing these key strategies:
- Digital Embrace: Utilize digital platforms to enhance the halal travel experience. Online booking systems, personalized recommendations based on faith-based preferences, and virtual tours showcasing halal-friendly destinations are all valuable tools.
- Investment & Infrastructure: Governments and tourism boards can contribute by allocating resources for building halal-friendly infrastructure. This includes prayer spaces at airports, halal restaurants, and family-friendly entertainment options.
- Collaboration & Understanding: Encouraging collaborative initiatives like cultural events and exchange programs fosters mutual understanding and appreciation between Muslim tourists and local communities.
- Destination Discovery: Identifying and promoting new halal-friendly destinations caters to the evolving needs of Muslim travelers. This helps expand market share and attract a wider range of tourists.
Market on the Rise:
According to Future Market Insights, the global halal tourism market reached a valuation of US$229.4 billion in 2018. From 2018 to 2023, the market witnessed significant growth with a Compound Annual Growth Rate (CAGR) of 3.8%. This trend is expected to continue in the coming years, making halal tourism a lucrative sector with immense potential.
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Global Halal Tourism Industry: Key Regions
Malaysia is one of the fastest growing countries in the global halal tourism industry sector. This country so far has managed to attract Muslim travellers from all over the world especially travellers from the Middle East region. Recently this country was ranked among the top 10 halal-friendly tourism destinations in the world. The halal tourism industry is personalised according to the specific needs of Muslim tourists who primarily seek a family friendly environment.
The countries which are the members of the Organization of Islamic Countries (OIC) are the primary sources of the halal tourism industry. The fast growing resident Muslim population in some of the non-Muslim majority regions including North America, Europe, India and China is expected to offer substantial growth opportunities for the global halal tourism industry during the forecast period.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
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Key Players of Halal Tourism Industry:
- halaltours.org
- Carisa travel group
- Rooh Travel Limted
- HalalBooking Ltd.
- Halal Safaris
Key Segmentations of Halal Tourism Industry:
By Tour Type:
- Domestic
- International
By Consumer Orientation:
- Men
- Women
By Tourist Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Age Group:
- 26-35 Years
- 36-45 Years
- 46-55 Years
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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