Islamic Tourism or Halal Tourism.. big potential in business
Shariah products and services are an integral part of global economy and are poised to grow with the rise in population. The rapid growth in Islamic population has had a radical impact on the global economy. According to PwC, the global Islamic population has expanded more than 50 per cent over the last two decades. New Islamic products and services (referred to as those compliant with Shariah principles) have become an integral part of the global economic growth engine. Islamic finance is one of the major Islamic services we are conversant with today. According to PwC, global Islamic financial assets are expected to grow to $2.6 trillion in 2017 from $1.2 trillion in 2012. The growth in these Shariah-compliant financial products, which include Islamic banking products, Islamic funds, sukuk, takaful, among others, has been supported by the expanding Muslim population and a wider acceptance of these products globally. Apart from financial services, Islamic products have forayed ...