Between 2015 and 2060, the Muslim demographic is expected to grow more than twice as fast as the overall world population1. While the world’s population is projected to grow at 32% in the coming decades, the number of Muslims is expected to increase by 70% – from 1.8 billion in 2015 to nearly 3 billion in 2060. In terms of consumer spending, in 2015 the global Islamic economy generated approximately US$ 1.9 trillion in food and lifestyle sector expenditure. Further, this market is expected to grow to US$ 3 trillion by 20212.
The Muslim travel market segment is a highly lucrative segment in contemporary tourism. According to the Mastercard-CrescentRating Global Muslim Travel Index 2017 (GMTI 2017)3, global tourism tracked an estimated 121 million Muslim international travellers in 2016, a figure projected to grow to 156 million by 2020. This segment’s travel expenditure is estimated to reach US$ 300 billion by 2026.The Muslim travel market segment is a highly lucrative segment in contemporary tourism. According to the Mastercard-CrescentRating Global Muslim Travel Index 2017 (GMTI 2017)3, global tourism tracked an estimated 121 million Muslim international travelers in 2016, a gure projected to grow to 156 million by 2020. This segment’s travel expenditure is estimated to reach US$ 300 billion by 2026.