Muslim Friendly Tourism:
Developing and Marketing MFT Products and Services
In the OIC Member Countries
52
3 MFT Products/Services and Marketing Strategies in OIC Countries
3.1 MFT Market Size and Profile in OIC Countries
Market Size: While global travel expenditure is expected to reach $1.85 trillion in 2020 based
on 6.75 percent compound annual growth, Muslim travel expenditure is expected to grow
from $142.3 billion in 2014 to $233.3 billion at a faster rate of 8.6 percent compound annual
growth. OIC Travel expenditure is expected to grow the fastest among the three, as shown in
the table below, from $107.2 billion in 2014 to $187 billion in 2020 at a 9.72 percent
compound annual growth.
Table 2: Global and MFT Tourism Market Size
2014 2015 2016 2017 2018 2019 2020 CAGR
Global Travel
Expenditure ($ Bil)
1253.7 1303.5 1375.7 1476.4 1589.4 1714.1 1854.9 6.75%
Muslim Travel
Expenditure ($ Bil)
142.3 144.4 158.7 174.4 191.9 211.4 233.3 8.59%
OIC Travel Expenditure
($ Bil)
107.2 111.6 123.6 136.9 151.8 168.3 187.0 9.72%
OIC Muslim Visitor
Arrivals (Mil.)
45.6 49.5 53.8 58.4 63.4 68.9 74.8 8.59%
Source: DinarStandard and UNWTO
Young population : Worldwide Muslim population is expected to rise from 1.7 billion in 2014
to 2.2 billion by 2030 (26.4%), according to Pew Research Center’s Forum on Religion and
Public Life117. More significantly, the Muslim population is estimated to be growing at about
twice the rate of the non-Muslim population over the next twenty years. This translates to an
average annual growth rate of 1.5% for global Muslim population, compared with 0.7% for
non-Muslims world-wide.
Another key attribute is that the median age in Muslim-majority countries is expected to be
30 by 2030. Comparatively, the median age in North America, Europe and the other more-
developed regions is projected to be 44 in 2030.
Other ‘Muslim-lifestyle’ market context : The Muslim-friendly travel market is part of a
wider global market trend of Muslim or Islamic lifestyle economy sectors being also affected
by growing unique Muslim consumption needs 118 . These significant sectors include: ‘Halal’
influenced Food and Agriculture market (estimated $1.12 trillion Muslim consumer
expenditure), Islamic finance market ($1.34 trillion Assets under management), Modest
clothing Muslim market ($230 billion consumer expenditure), Media and recreation services
Muslim market ($179 billion consumer expenditure) among select others (all 2014 estimates
by DinarStandard). This broader context is important as it relates to the same Muslim travel
117 “The Future of the Global Muslim Population, Pew Research Forum, 2011
118 “State of the Global Islamic Economy,” Thomson Reuters/ DinarStandard 2015/16