The Muslim travel market is one of the most lucrative and one of the most rapidly growing market segments in the industry. It is also one of the world's highest spending tourist markets. Therefore it is vital that destinations, businesses and travel-related entities take the needs of this market segment into consideration when devising business models and plans.
The Muslim market is valued to be worth an estimated $126 billion, with this figure expected to increase rapidly over the next few years. By 2020, the market value is estimated to reach $190 billion and will make up a significant percentage of total global expenditure.
By engaging with this dynamic market segment, destinations and travel-related businesses can benefit greatly. The untapped Muslim travel market has great potential for industry players with a wealth of business opportunities and revenue streams in the future.
Muslim travellers travel for the same reasons as any other tourist – to explore the different destinations and experience their unique culture. However they do not wish to compromise on their beliefs and have certain requirements and needs when travelling – such as the availability of Halal food and prayer facilities at their selected destination. Destinations that are able to provide these facilities and meet the requirements of Halal-conscious travellers are generally preferred amongst Muslims.
Understanding the unique needs of Muslim travellers can benefit destinations, accommodation providers, travel agents, restaurants, airlines, government associations and any travel-related entity. By evaluating their current offerings and upgrading a few facilities, it is possible to better serve Muslim travellers and become the preferred choice amongst the entire market segment.
Many destinations across the world have identified this potential and are adapting their offerings to better appeal to the Muslim travel market. One such example is Japan. In a bid to diversify its tourism industry, the Japanese Government is implementing plans to increase the availability of Halal food, prayer facilities and other Muslim-friendly facilities . As a result, Muslim visitor arrivals are forecasted to hit 1 million by 2020 with a growth rate of over 18% over the next few years.
To help understand and connect to the Muslim traveller, CrescentRating offers a series of extensive workshops and seminars that offer an in-depth understanding of their lifestyles, behaviour and specific needs.
More information can be found on our website at http://www.crescentrating.com/academy/training.html