Media ININ Economy We Trust
Media In / WAM / Dubai October 28, 2018
The World Economic Report for 2018-2019 shows that the UAE is ranked first in 5 sectors: halal food, halal travel, conservative fashion, media and entertainment, pharmaceuticals and halal cosmetics, compared to 3 sectors in 2017-2018. Islamic Economy Index 2018 – 2019.
Muslims spent $ 2.1 trillion on the food, beverage and lifestyle sectors in 2017 and spending is projected to reach 3 trillion by 2023, spending on food and beverages was $ 1.3 trillion first, followed by fashion spending of $ 270 billion $ 209 billion, travel worth $ 177 billion, medicines worth $ 87 billion and cosmetics worth $ 61 billion.
In 2017, Muslim spending on medicines reached 87 billion US dollars and is expected to reach 131 billion US dollars by 2023, while halal cosmetics spending is estimated at 61 billion US dollars and is expected to reach 90 billion US dollars by 2023.
There is considerable room for growth in the Islamic economy, with only $ 745 million invested in private equity over the past three years, well below the $ 595 billion in global private equity and venture capital investment in 2017.
