By Tomás Guerrero, IE Business School
Nearly all muslim-majority countries currently import much of the food they consume, with imports, as in the case of the Gulf Cooperation Council (GCC) countries, above 70 per cent.
Thus they are net importers of food, and the vast majority of it is halal. In 2013, Muslims spent $1.2tn on food and drink, the equivalent of 17.7 per cent of total world expenditure on food in that year. Of this, $1tn was spent on halal food by the muslim communities in the 57 member countries of the Organisation of Islamic Cooperation.
There are three main factors explaining this dependency: adverse climate, the lack of the knowhow and technology needed in order to boost food productivity and the rapid growth of populations with increased disposable income who are starting to adopt Western patterns of consumption. Read more
By Shelina Janmohamed of Ogilvy Noor
The horsemeat scandal has raised significant consumer questions: what is in the food we eat, how can we be sure it’s properly labelled, and most importantly, who can we trust?
For Muslim consumers who wish to observe halal in their food and beverage consumption – an industry worth an estimated $661bn a year – these are questions they ask daily. For them, halal certification from a trusted authority is vital, otherwise they simply won’t buy. No trusted halal logo, no sale. Read more
With Dubai’s economy recovering, the emirate is rediscovering its mojo. That brimming confidence has already seen the return of large-scale development projects. Now the government is moving on to big concepts.
The ruler, Sheikh Mohammed bin Rashid Al Maktoum, on Wednesday oversaw the launch of an attempt to place Dubai at the centre of the ‘global Islamic economy.’ Read more
Forget the bikini-clad Europeans. For a growing number of Turkey’s hoteliers, halal holidays is where the money is at.
With their no-alcohol policy and separate beaches, pools and discotheques for men and women, “family style” holidays are on the rise as hoteliers look to cash in on the new middle class from Turkey’s more religiously conservative Anatolian heartland. Read more