Muslim travel in the Middle East to hit US$36bn by 2020
The report was compiled by Salam Standard
Muslim travel in the Middle East will positively impact the GDP by 21% and hit US$36bn by 2020, a report from Salam Standard revealed.
Region’s outbound spend to rocket to $72 billion, or 59% of the world’s total, while inbound spend will reach $36.8 billion, with KSA and UAE dominating, according to ‘Global Economic Impact of Muslim Tourism and Future Growth Projection: 2017-2020’ report.
The top three countries that stand to benefit from the Muslim inbound travel spend is Saudi Arabia, UAE and Turkey. Saudi Arabia in particular relies heavily on Muslim travel due to religious travel to Makkah and Madinah and the inbound travel GDP is forecasted to reach 78% for the country by 2020.
By the end of the decade, Muslim travel industry is expected to create 1.2 million jobs in the region with the revenue from outbound travel expected to rise to about $72 billion by 2020
Travellers from Saudi Arabia and the UAE are the biggest spenders and will represent 41% of all outbound Muslim travel spend by 2020, the report said.