Millennial and Gen Z Muslim travellers drive $180 billion online travel market
With an estimated 131 million Muslim visitor arrivals globally in 2017, the market is projected to continue its fast-paced growth to reach USD 300 billion in travel expenditure by 2026. More than 60% of the Muslim travel market are either millennials or Generation Z.
Muslim travellers are projected to spend USD 180 billion in online travel purchases by 2026, driven by millennials and Generation Z who are increasingly using digital technologies for place discovery and travel bookings.
This was one of the insights revealed in the Mastercard-Crescent Rating Digital Muslim Travel Report 2018 (DMTR2018), released yesterday (18 October) at the Halal in Travel Asia Summit at the ITB Asia 2018 travel trade show in Singapore.
The report is the first comprehensive evaluation of the online travel patterns, purchasing behaviour and attitudes of Muslim travellers across different demographic groups. It extends the insights uncovered in the Muslim Millennial Travel Report 2017 by looking at the larger context of the digital Muslim traveller market in which millennials are a sub-segment. It also offers insights for retailers seeking to market to Muslim travellers.
CrescentRating & HalalTrip CEO Fazal Bahardeen said: “With the rapid proliferation of enabling online technologies and payment methods, and the rise of Muslim digital natives as a major segment within the Muslim travel market, the outlook for the digital space is very positive.
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