The global Islamic economy is growing at staggering numbers, key sectors such as halal food, travel and media are taking off. The infographic below captures some compelling statistics which we wanted to share.
Before we get into the infographic, let’s address an essential question:
What does Islam say about Economics?
Islam is a comprehensive school that offers both social and spiritual teachings in life. Islamic economy is not a separate study but rather a part of the general Islamic system of organizing different aspects of life in the society. The economic structure of Islam preserves the rights of the individual and instructs social behavior. As other economic systems boast about social equality, the feature of social justice in Islam differs from all other systems in the core of its concepts.
5 Facts About the Global Islamic Economy:
- Islamic Sector Finance Assets total $1.4 trillion
- Muslims spend about $137 billion a year
- Total Muslim population is over 1.5 billion!
- Expenditure in halal food sector is expected to grow 50% by 2018
- 4 of the 5 fastest growing airports in the world are in the middle east