The Halal Tourism Market was valued at approximately USD 260 billion in 2023 and is expected to grow at a substantial CAGR of around 5% during the forecast period 2024-2032
An increasing population that is disproportionately
young, educated, and upwardly mobile is contributing to the rise of the halal
tourism industry. The Islamic world is home to a substantial share of tourism
markets and destinations, which has a favorable effect on the forecast for the
halal tourism business. Halal tourism is also important to consider. Due to
initiatives to boost tourism in Uzbekistan and Saudi Arabia as well as the
restoration of lost historical places, there is a rising demand for halal travel.
The adoption of halal tourism is also growing as more OIC locations follow suit
and discover treasures that can be of interest to Muslim tourists. Muslims in
the coming generation is expected to be key players in shaping the next stage
as they enter the workforce.
According to UnivDatos’ research report “Global Halal Tourism Market”, the market is expected to witness robust growth of 5% during the forecast
period (2022-2028). Due to the rise in Muslim consumers in the upper
middle class and the rise in interconnectedness, which has made travel a way of
life, the demand for halal tourism is projected to explode. The halal tourism
sector is anticipated to gain traction
and grow into a vital component of the thriving
global halal tourism industry, satisfying the demand for halal travel from all
over the world. Future trends in the halal tourism industry are also influenced
by Gen Alpha, who are anticipated to become another
group of tourists with a major influence on Muslim families' travel habits. The
market for halal tourism has grown to include a variety of lifestyle offers
such as halal travel, tourism, and hospitality services, and the adoption of
halal tourism is expanding along with the rise in the number of wealthy
Muslims. One of the tourism sectors with the fastest growth rates in the world
is the worldwide halal tourism market. The recent developments in the halal
tourism market are caused by ethical consumer trends and the change in the
temperament of Muslim consumers globally.
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Based on Type, the market is segmented into domestic tourism and international tourism. The international
tourism segment grabbed the major market share and dominated the market in
2020. The emerging number of travelers for several purposes coupled with the availability of halal foods for consumers
is contributing to the market growth of this segment. Furthermore, leading market players are coming up with innovative tour
packages specially designed for Muslim tourism to capitalize on the growing demand for Halal Tourism.
Based on the tourist type, the market is
categorized into individual, tour group, and package traveler. Tour group category to witness highest growth
during the forecast period. This is mainly due to the rising disposable income, emerging hospitality
sector, etc., According to the
World Bank, the number of international departures more than doubled between
1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number
of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018.
Malaysia to witness extensive growth
Regions/countries analysed in the report include The United Arab Emirates, Saudi
Arabia, Iran, Qatar, Kuwait, Malaysia, Indonesia, Singapore, The United
Kingdom, and Rest of the World. Malaysia is one of the leading country across the world
in terms of market share owing to the growing tourism spending and increasing
penetration of halal-friendly tour packages in the region. Factors such as the
growing emergence of Muslim-friendly hotels and rising travel spending in post covid era would create lucrative growth prospects for the halal
tourism market in the country. Malaysia has been chosen as the world's top
destination for Muslim travelers for three consecutive years in recent surveys
conducted by Singapore's Crescent Rating and the United States' Dinar Standard.
Furthermore, the country offers accessibility to a wide range of halal food as
well as offering a wide range of Muslim-friendly tour packages for tourists to
enjoy its history, mosque architecture, heritage, gastronomy, nature, arts and culture. This is further expected to drive the halal
tourism market in Malaysia during the forecast period.
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According to UnivDatos’, the key players with a considerable market share in the Halal Tourism market are Halaltours.org, Carisa travel group, Rooh Travel Limited, HalalBooking Ltd., Halal Safaris, Halal Trip India, Hello Travel Pte Ltd, Islamic Travel, Rihaala, Tripfez Travel.
“Global Halal Tourism Market” provides comprehensive qualitative and quantitative
insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities
available for the market players. Moreover, the report also encompasses the key
strategic imperatives for success for competitors along with strategic
factorial indexing measuring competitors’ capabilities on different parameters. This will help
companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market
Segmentation:
By Type (Domestic Tourism, International Tourism)
By Tourist Type (Individual, Tour Group, and Package Traveler)
By Country (The United Arab Emirates, Saudi Arabia, Iran, Qatar, Kuwait,
Malaysia, Indonesia, Singapore, The United Kingdom, and Rest of the World)
By Company (Halaltours.org, Carisa travel group, Rooh Travel Limited, HalalBooking Ltd., Halal Safaris, Halal Trip India, Hello Travel Pte Ltd, Islamic Travel, Rihaala, Tripfez Travel)
Key questions answered in the
study:
What are the current and future trends of the global Halal Tourism industry?
How the industry has been evolving in
terms of type, drive type, and application?
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the global Halal Tourism industry?
What is the customer orientation, purchase behavior, and
expectations from the global Halal Tourism suppliers across various region and countries?
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Email: contact@univdatos.com
Contact no: +1 978 7330253
Website: www.univdatos.com
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