Muslim travel mkt to reach 150mn tourists by 2020

ALKESH SHARMA / Emirates Business

Enthused with many positive stimuli, the Muslim Travel market is estimated to grow to 150 million visitors by 2020 with an expenditure projected to surge to $200 million. Travel industry pundits predict that the whopping growth of Muslim travel market is significantly contributing to the enhanced demand from this segment in other sectors including accommodation, dining, shopping and other related areas.
According to the MasterCard-CrescentRating Global Muslim Travel Index 2015 (GMTI 2015), the Muslim travel market was worth $145 billion in 2014, with 108 million Muslim travellers representing nearly 10 percent of entire travel economy. However, it is forecasted to undergo a substantial pace and reach 150 million visitors by 2020.
“Increased number of youngsters, high incomes and easy access to technology are driving Muslim travel market on the fastest lane. Besides travel industry, it is also supporting various other enterprises including retail, hospitality and entertainment. We are expecting an increased footfall of Muslim travellers all across the MENA and Europe region in the coming months,” said Anuj Behl, who works with a Turkey-based travel company and is heading its operations in the UAE, in an exclusive conversation with Emirates Business during the recently-held ATM in Dubai. According to the GMTI 2015 Index, the total expenditure of Muslim travellers amounted to $145 billion in 2014 and out of this; the shopping expenditure amounted to $36.3 billion, while $26.1 billion was spent on dining.
Notably, among the top 40 cities covered in the Muslim Travel Shopping Index 2015 (MTSI 2015), the total expenditure of Muslim travellers visiting these cities amounted to $36 billion in 2014. Out of this total
expenditure, $9.3 billion (25.8 percent) of the expenditure was accountable for shopping.
“Dubai topped the ranking among the most-sought-after cities for shopping and it was followed by Malaysia. World-class infrastructure, safety of tourists and easy connectivity with the rest of the world are some of the factors adding to the reputation of Dubai as the top shopping destination,” Shaun Morkel, Marketing Manager of Dubai-based Dream Travels, told Emirates Business.
“Currently Muslim population is the second-largest in the world and is projected to become more than 25 percent of the world’s population by 2030. Therefore, immense potential lies ahead. Muslim consumers form an important segment for industries and they are anticipated to be one of the largest consumer sections in the coming days,’” pointed out Morkel.
GMTI 2015 Index says that the majority of Muslim population comes from some of the fastest growing economies such as Indonesia, Malaysia, Turkey and the Gulf countries. Their preference for products and services are influenced by their faith based requirements and therefore this particular segment has a set of unique needs. This is clearly illustrated by the accelerated growth witnessed in the Halal food, Islamic banking and Muslim-friendly lifestyle sectors during the last decade, stated the Index.