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Four countries in the Arab World ranked within top 10 Muslim shopping destinations globally
- MasterCard and CrescentRating release new report highlighting shopping habits of Muslim travellers
- Dubai tops the MTSI 2015 ranking with overall score of 79.5 out of 100; Other cities in the Arab world perform strongly with Manama, Doha, Riyadh, and Sharjah ranking highly in index
- Total expenditure of Muslim travellers visiting 40 cities amounted to US$36 billion in 2014, of which 26 per cent was spent on shopping
Cairo, Egypt - September 30, 2015
Four cities from across the Arab world are among the top 10 destinations to travel to globally for Muslims for shopping purposes, according to a new report released today by MasterCard and CrescentRating just ahead of the upcoming Global Islamic Summit to be held in Dubai.
The Muslim Travel Shopping Index 2015 (MTSI 2015) was released during MasterCard's Innovation Forum in Kuala Lumpur. It analyses the trends and preferences of the Muslim traveller shopping market based on the performance of 40 main international shopping destinations against a number of set criteria. Compiled by MasterCard and CrescentRating, the publication of the inaugural MTSI2015 Index ranked Dubai in the UAE as the leading shopping destination for Muslim tourists globally, with a weighted score of 79.5 out of 100.
Manama in Bahrain was the second highest ranked destination in the Arab world according to the MTSI 2015 for destinations within the Organisation of Islamic Cooperation (OIC), coming in at seventh overall with a score of 59.6, while Doha in Qatar followed closely as the third-ranked shopping destination in the Arab world, with an overall ranking of eighth, and a score of 59.5. Riyadh in the Kingdom of Saudi Arabia was the fourth highest ranked destination in the region in the MTSI 2015 OIC list, with an overall ranking of ninth and a weighted score of 59.3.
While it fell outside of the top 10 global Muslim travel shopping destinations, Sharjah in the UAE ranked fifth highest amongst the MTSI 2015 destinations in the Arab world, coming in 12th overall with a competitive score of 55.3.
Commenting on the release of MTSI 2015, Raghu Malhotra, Division President, Middle East and North Africa, MasterCard said, "With 108 million Muslim travellers representing 10 per cent of the entire travel economy in 2014, and forecasted to grow even further to 150 million visitors by 2020, it is evident this segment of the travel market represents a huge opportunity for both public and private sector organisations. We are very pleased to publish this Index on the travel and shopping patterns of Muslim communities in order for organisations around the world to more effectively target and capture share of this lucrative travel sector."
Fazal Bahardeen, CEO of CrescentRating & HalalTrip said: "The MTSI is a fascinating insight into the shopping habits of Muslim consumers and will prove to be an invaluable tool to the entire sector. The research looks at two of the most important expenditure components of Muslim travellers which is shopping and dining. It is a perfect complement to the GMTI2015 which we launched earlier this year and allows us to provide a complete picture of how Muslims spend their money when travelling."
MTSI uses a comprehensive set of metrics to rank destinations including a city's suitability as a shopping destination, its Muslim-friendly services and facilities, and its ease of travel and family friendliness. Collectively, these factors contribute to the overall score and ranking of each destination.
The report also provides valuable insight into the behaviour and preference of Muslim travel shoppers and diners.
Key findings of the MTSI 2015 report include:
· Total expenditure of Muslim travellers visiting the 40 cities included in the report amounted to US$36 billion in 2014. Of this total expenditure, US$9.3 billion (26 per cent) was spent on shopping.
· 56 per cent of respondents shop for souvenirs as typical purchases, while 45 per cent shop for local clothing brands. 40 per cent of respondents also purchase Islamic clothing and accessories, while 38 per cent chose traditional handicrafts to buy.
· Results of the study highlight that 27 per cent of respondents spend between US$250 - 500 on shopping whilst travelling, while 24 per cent spend between US$500 - 1,000, and 20 per cent spend over US$1,000.
· When travelling, 55 per cent of the survey pool still prefers to use cash for purchases. 35 per cent on the other hand, prefer using credit cards for their purchases, while 6 per cent utilise debit cards.
· Singapore and London ranked among the top five destinations for Muslim shopping travellers, revealing that Muslims are becoming more adventurous and welcoming of new shopping and dining experiences.
· Although OIC destinations have an advantage due to possessing Muslim-friendly environments as a default, non-OIC destinations can successfully compete for Muslim travellers by proactively catering to this segment.
The full report is available here mtsi.crescentrating.com.
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About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardMEA and @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
About Crescentrating Pte Ltd
CrescentRating is the world's leading authority on halal-friendly travel. The company's vision is to lead, innovate and drive this segment through practical and deliverable solutions in what is regarded today as one of the fastest growing segment in the tourism sector. The company uses insight, industry
intelligence, lifestyle, behaviour and research on the needs of the Muslim traveller to deliver guidance on all aspects of halal-friendly travel to organisations across the globe.
CrescentRating's services now include rating & accreditation, research & consultancy, workshops & training, ranking & indices, event support/partnerships and content provisioning.
Website: http://www.crescentrating.com
Twitter: http://twitter.com/crescentrating
LinkedIn: https://www.linkedin.com/company/crescentrating
© Press Release 2015
