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The Halal Tourism Market is projected to experience steady growth with a Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2028. The market includes key players such as Halaltours.org, Carisa Travel Group, Rooh Travel Limited, and HalalBooking Ltd.
The growth of the halal tourism industry can be attributed to factors like the increasing young, educated, and upwardly mobile population, particularly in the Islamic world. This demographic contributes to the demand for halal tourism services. Initiatives to promote tourism in countries like Uzbekistan and Saudi Arabia, along with the restoration of historical sites, have further fueled the demand for halal travel.
The rise in disposable income and the growing Muslim population have led to an increase in demand for halal tourism. Muslims in the upper middle class, as well as the interconnectedness of societies, have made travel a lifestyle choice. Halal tourism is expected to become a significant sector within the global halal tourism industry, catering to the demand for halal travel worldwide.
The market for halal tourism offers various lifestyle options, including halal travel, tourism, and hospitality services. The adoption of halal tourism is expanding with the growing number of affluent Muslims. The worldwide halal tourism market is one of the fastest-growing tourism sectors globally, influenced by ethical consumer trends and the evolving preferences of Muslim consumers.
The COVID-19 pandemic has heavily impacted the tourism industry, including halal tourism, leading to a decline in global GDP and export revenues from tourism.
The market is categorized into domestic tourism and international tourism, with the latter dominating in terms of market share due to the availability of halal food and the increasing number of travelers. Tour group travelers are expected to witness the highest growth, driven by rising disposable income and a thriving hospitality sector.
Geographically, the market is segmented into various regions and countries, including the United Arab Emirates, Saudi Arabia, Iran, Qatar, Kuwait, Malaysia, Indonesia, Singapore, the United Kingdom, and others. Malaysia, in particular, has a significant market share due to its growing tourism spending and the availability of halal-friendly tour packages.
The competitive landscape of the halal tourism market includes key players like Halaltours.org, Carisa Travel Group, Rooh Travel Limited, HalalBooking Ltd., Halal Safaris, Halal Trip India, Hello Travel Pte Ltd, Islamic Travel, Rihaala, and Tripfez Travel. These companies are analyzed based on their market share, competition, product launches, partnerships, and mergers or acquisitions.
In conclusion, the Halal Tourism Market is expected to grow steadily at a rate of 5% from 2022 to 2028. Factors such as the increasing Muslim population, disposable income, and the demand for halal travel contribute to the market’s growth. The market is segmented by type, tourist type, and geography, with key players competing in the industry. The COVID-19 pandemic has had a significant impact on the tourism sector, including halal tourism.
