Port & Freezone
efforts to develop a
strong Islamic economy.
DAFZA
has
always
been a key supporter to
the national initiatives
contributing to Dubai’s
vision of becoming an
international investment
hub. Our outlook for the
UAE’s Halal sector is
very positive, as the UAE
ranked first among Arab
countries and second in
the World Islamic Index
for 2016.”
“Dubai’s free zones have
played proactive roles in
developing the Emirate’s
vital sectors, including
the Halal industry that
has achieved an annual
growth of 8 per cent
according to official
statistics. Due to its
steady
growth
and
consistent contributions
to the national economy,
the sector has been
receiving unprecedented
government support as
well as posting strong
trade flows due to the
investment opportunities
it
facilitates,
which
advance the market
22
August 2017
among the ranks of global
players. The knowledge
DAFZA
contributes
through
this
guide
complements its leading
role in the economy that
has spanned more than
two decades. We look
forward to presenting
this guide to the whole
world through seminars
and our participation in
international economic
events, promote the Halal
and attract foreign direct
investment to Dubai, the
Capital of the Islamic
Economy,” H.E. added.
According to the Global
Islamic Economy Report
2015 - 2016, the Islamic
economy is estimated to
be worth USD 1.9 trillion
and is forecasted to exceed
USD 3 trillion by 2021
at an 8 per cent annual
growth. The food and
beverage industry ranks
first among Muslims, with
a total estimated value of
around USD 1.17 trillion
which is expected to grow
to near USD 1.9 trillion
by 2021. The next most
popular sector among
the Islamic community
is clothing which is
worth
an
estimated
USD 243 billion. Islamic
entertainment follows at
an estimated USD 189
billion, then travel at
about USD 151 billion,
and halal medicines and
cosmetics at USD 78
billion. As industry leaders
continue to promote their
ingredients used in Halal
products, Halal industries
are expected to be
collectively worth around
USD 213 billion by 2021.
ESMA recently reported
that the Halal markets
and related products are
estimated to be worth
over USD 2.3 trillion, with
the food and beverage
sector accounting for
around 67 per cent of the
total volume of trade at
approximately USD 1.4
trillion. With the growth
rate expected to reach
5.6 per cent annually by
2020, the annual Halal
spend is expected to
reach USD 1.6 trillion.
Other statistics report
that around 75 to 80