Industry Background:
Halal Tourism is the fastest-growing tourism category in the tourism industry. It is Muslim-friendly tourism. This market is growing with Muslim tourists seeking destinations to meet their needs, in terms of diet, dress. The halal terms define the permissible according to the Islamic Rules such as alcohol, pork, nudity, and gambling are off-limits. These travelers are majorly attracted by leading Muslim countries such as the United Arab Emirates, Indonesia, and Turkey. As in today’s scenario, the adapting needs of Muslim travelers such as hotels and restaurants are having halal foods, Muslim friendly washrooms, Ramadan related offerings. Booklhalalhomes.com is one of the leading portals for halal accommodation rentals.
According to AMA Research, the market for Halal Tourism is expected to register a CAGR of 2.33% during the forecast period to 2030. This growth is primarily driven by Increasing Spending By Muslim Travellers across the Globe
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Tourism sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Halal Trip India (India), Global Halal Travels (Australia), Crescent Rating (Singapore), HalalDays.com (India), Halaltrip.com (Singapore), Halal Tourism (South Africa), Suaytour.com (Germany), Hunkar International Halal Travel (Turkey) and Musafireen (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Apr 2019, the Ministry of Finance – Ministry of Tourism revealed that Indonesia won the first rank as the world’s halal tourist destination.The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies.
Influencing Trend:
Increase Number of Solo Female Muslim Travellers and Rapidly Growing Demand for Halal Travel Education and Accreditation
Market Growth Drivers:
Increasing Spending By Muslim Travellers across the Globe, Growing Disposable Income and High Availability of Muslim-Friendly Travel Services and Facilities
Challenges:
High Cost of Travelling Effects on Travel Purchasing Decisions
Restraints:
High Safety Concern of Having Basic Halal Requirements from Muslims
Opportunities:
Advancement of Technologies Such As Smartphones Application Are Creating Growth in This Industry and As Islam Is a Fastest Growing Religion across the Globe, By This Market Is Having Strong Growth Potential
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Halal Tourism Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Halal Tourism Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Halal Tourism players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Halal Tourism Study Sheds Light on
The Halal Tourism Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Halal Tourism industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Halal Tourism industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.