According to a new study, experts are saying that Muslim tourists are a big niche market. In fact, this market alone is worth more than $126.1 million a year. This is a figure that is expected to continue growing. The report suggested that the figure was going to grow by 4.8 percent per year until 2020. This is of course being compared to the global average of just 3.8 percent.
The report was called the Global Muslim Lifestyle Travel Market: Landscape and Consumer Needs. The report highlighted many important factors, including how airlines, tourism destinations, and resorts can benefit from engaging this market. There is a lot of money to be made in this market if people cater to it.
DinarStandard, which is a New York-based marketing research group, was the group that released the report. Overall, they advised and encouraged companies to cater to this market. They believe that the first companies to start doing this can actually pioneer the development to their liking.
The study went on to focus on a number of destinations, airlines, and hotels that already engage with this niche market.