Reports and Insights issued a report recently titled “Halal Tourism Market: Opportunity Analysis and Future Assessment 2023-2031” which examines and assesses the market’s status over the forecast period. It is a thorough investigation that focuses on elementary and secondary drivers, leading segments, market size and share, and geographical assessment. The study also provides a comprehensive evaluation at of the leading players, major partnerships and alliances, mergers, and acquisitions, along with the trending innovation and corporate strategies.
Halal Tourism Market Overview:
By the end of 2030, it is anticipated that the global market for Halal Tourism Market will be worth US$ 341.4 Bn, as per the latest industry analysis by Reports and Insights.
The Muslim population is growing at a faster rate than the global population, which means there is a growing pool of potential Muslim travelers. According to the Global Muslim Travel Index 2021, International Muslim traveler arrivals has increased from an estimated 108 million in 2013 to 160 million in 2019. Meanwhile, in Western Europe and North America, more second and third generation Muslims are entering the work force, resulting in an increasing disposable income. Many countries, Islamic or otherwise, are attempting to attract these visitors. As a result, new destinations are emerging that cater specifically to Muslim travelers. These destinations offer a wide range of halal-friendly products and services, from food to accommodations to activities.
Further, countries with large Muslim populations, such as Malaysia, Indonesia, UAE, and Turkey, have implemented policies to promote halal tourism, such as building halal-friendly infrastructure, promoting halal-certified products, and providing incentives to businesses that cater to Muslim travelers.
This market study on the global halal tourism market aims to cover market dynamics such as market drivers, challenges/restraints, and opportunities for the market players. It will also cover market segmentation outlook, halal tourism market trend, regional outlook, halal tourism market size, and market share, as well as industry and product insights, SWOT analysis, Porter's five force analysis, PESTEL analysis, heat map analysis, market forecast, and the major players operating in the halal tourism market.
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Halal Tourism Market Drivers:
“Social Media and Online Booking Platforms Have Made It Easier for Muslim Travelers”
Social media and online booking platforms have made it easier for Muslim travelers to find and book halal-friendly travel options, which has helped to drive the growth of the halal tourism market. Further, Social media platforms like Instagram and Facebook have allowed halal tourism destinations and businesses to showcase their services and products to a wider audience. This increased visibility has helped to raise awareness of halal tourism and attract more Muslim travelers.
In addition, Muslim-friendly platforms are springing up alongside more traditional online travel agencies (OTAs) such as booking.com and TripAdvisor. For instance, Halalbooking.com, a London-based market place for halal tourist accommodation that generated approximately one billion pounds in revenue in 2021.
Peer-to-peer platforms are also gaining popularity. Bookhalalhomes.com has grown to become the world's leading halal accommodation rental portal. It distinguishes itself from Airbnb by providing halal-certified services like halal food and designated prayer rooms.
Halal Tourism Market Restraints:
“Muslim Travelers Are Still Unaware of The Availability of Halal-Friendly Products and Services”
While the halal tourism market is growing, many potential Muslim travelers are still unaware of the availability of halal-friendly products and services. Further, many businesses have not yet obtained halal certification. The limited availability of halal-certified products and services could limit the growth of the halal tourism market. On the other hand, some Muslim travelers perceive halal-friendly products and services to be more expensive than non-halal options, which could discourage them from traveling. Businesses that can provide affordable halal-friendly options will be well-positioned to capture a share of the halal tourism market.
Halal Tourism Market Opportunities:
“Luxury Halal Tourism”
There is a growing demand for luxury halal tourism, including high-end accommodations, private tours, and exclusive experiences. Businesses that can provide luxury halal tourism experiences will be able to capture a share of the high-end halal tourism market. Further, technology and innovation can be used to enhance the halal tourism experience, including mobile apps for prayer times, virtual tours, and augmented reality experiences. Businesses that can leverage technology to provide unique and innovative halal tourism experiences will be well-positioned to capture a share of the market.
Some of the key questions answered in this report:
- Which are the five top players of the Halal Tourism Market?
- How will the Halal Tourism Market change in the upcoming years?
- Which product and application will take a share of the Halal Tourism Market?
- What are the drivers and restraints of the Halal Tourism Market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Halal Tourism Market throughout the forecast period?
- What is the current market size, what will the market size be in 2031 and what will the growth rate be?
- What are the challenges to grow in the market?
- What are the market opportunities and challenges faced by the key vendors?
- Who are the major competitors and what is their strategy?
- What are the barriers to entry for new players in the market?
- What is Halal Tourism Market?
- Halal Tourism Market size in USA
To know the Global Halal Tourism Market size by pinpointing its sub-segments.
• To study the important players and analyze their growth plans.
• To analyze the amount and value of the Market, depending on key regions
• To analyze the Global Market concerning growth trends, prospects, and also their participation in the entire sector.
• To examine the Global Halal Tourism Market size (volume & value) from the company, essential regions/countries, products and applications, and background information.
• Primary worldwide Global Halal Tourism Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans for the future.
• To examine competitive progress such as expansions, arrangements, new product launches, and acquisitions on the market.
Halal Tourism Market: Segmentation: Outlook
By Traveler Type, By Tour Type, By Age, By Destination Type, By Booking Channels and By Region
Halal Tourism Market, by Traveler Type:
Based on the Traveler Type, the global halal tourism market is segmented into; Muslim Travelers, Muslim Travel, Muslim Tourism and Halal-Conscious Travelers.
Halal Tourism Market, by Tour Type:
Based on the Tour type, the global Halal Tourism market is segmented into; Independent and Group Traveler
Halal Tourism Market, by Age:
Based on the age, the global halal tourism market is segmented into; Ages 18-24, Ages 25-34, Ages 35-49, Ages 50-60 and Ages 60+.
Halal Tourism Market, by Destination Type:
Based on the destination type, the global halal tourism market is segmented into International and Domestic.
Halal Tourism Market, by Booking Channels:
Based on the booking channels, the global halal tourism market is segmented into Online Bookings and Offline Bookings
Halal Tourism Market, by region:
Middle East region and South Asia region garnered the major share in the halal tourism market in 2021 owing to its rich Islamic heritage and a range of halal-friendly products and services, these region offers a unique and attractive destination for Muslim travelers.
Further, UAE is home to several cities that are popular with Muslim travelers, including Dubai and Abu Dhabi. These cities offer a range of halal-friendly products and services, including halal food options, prayer facilities, and accommodations that are segregated by gender. Qatar is a growing destination for Muslim travelers, with a range of halal-friendly products and services, including halal food options and prayer facilities.
South Asia in Asia Pacific region is an important and growing market for halal tourism. South Asia is home to a large and growing Muslim population, which means there is a large pool of potential Muslim travelers. Further, several destinations in South Asia are emerging as popular destinations for halal tourism, including Malaysia, Indonesia, and Turkey. Moreover, many governments in South Asia are recognizing the potential of the halal tourism market and are providing support to businesses in the form of funding and infrastructure development.
Halal Tourism Market: Key Players
halaltours.org, Carisa Travel Group, Rooh Travel Limited, HalalBooking Ltd., Dintravel, Best Halal Trip, Muslim Travelers, Islamic Trave, HalalTrip, Serendipity Tailormade, Halal safaris, Globerry Ltd., Dreamcation Cruises and Tours, and CrescentRating amongst others are the top leading players in the halal tourism market.
Recent Developments by Key Players:
Travel companies are focused on introducing new and improved services and packages to meet the growing demand for Muslim travelers. Some of the recent initiatives in the halal tourism market include:
The United Arab Emirates (UAE) has been actively promoting halal tourism, with Dubai launching its own Halal Tourism Certification in 2017. The certification is awarded to hotels and restaurants that meet certain criteria, such as providing halal food and prayer facilities. The UAE has also been promoting its Islamic heritage and culture as part of its halal tourism initiatives.
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