MarketingThe segment is growing at 70%, a faster rate than the global average of 32%.

Newly-released Salam Standard Report highlights Muslim tourism’s untapped opportunities

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Newly-released Salam Standard Report highlights Muslim tourism’s untapped opportunities
Photo Credit: Justocker/Getty Images

With the rate of growth of the Muslim population at 70% compared to the global average of 32%, the Muslim travel market presents many untapped opportunities for countries and organisations that successfully address its needs and “an enormous threat for those who ignore it”.

The global Muslim travel sector is growing at a fast pace. Last year this segment had a significant impact on overall tourism, generating a total GDP (Gross Domestic Product) of US$148 billion and employing 4.7 million people, both directly and indirectly.

The impact is set to be even greater by 2020 with US$183 billion and 5.6 million people employed worldwide.

With the rate of growth of the Muslim population at 70% compared to the global average of 32%, the Muslim travel market presents many untapped opportunities for countries and organisations that successfully address its needs and “an enormous threat for those who ignore it”.

These are some of the findings in the just released report, Global Economic Impact of Muslim Tourism and Future Growth Projection: 2017–2020 by Salam Standard, an online hospitality tool for Muslim travellers that displays Muslim-friendly amenities and services in hotels according to categories.

The report looks at where the Muslim tourism segment grew to in 2017, as well the trends in a snapshot from 2017 to 2020 across 19 individual economies covering 80% of the world’s Muslim travel market. They include the Americas, Asia, Europe, the Middle East and Oceania.

Faeez Fadhlillah, CEO and co-founder of Salam Standard and Tripfez, a Muslim-friendly hotel booking portal, said this is “the only report” that looks at the economic impact of Muslim tourism towards the GDP, the tax contribution, as well as jobs creation both direct and indirect.

“With the sector forecast to continue its strong growth trajectory, driven by Asia and the Middle East where young and aspirational populations and an increasingly-affluent middle class are hungry to travel the world in a faith-compatible way, savvy destinations and travel companies around the world can capitalise on this market’s untapped potential,” he added.

The full report is free to download here (https://www.salamstandard.org/insights-report.html).

Source:Web In Travel

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