Muslims spent $2.2 trillion on halal and Islamic lifestyle sectors and Islamic finance assets reached $2.5 trillion in 2018, according to the State of the Global Islamic Economy 2019/20 report from DinarStandard.
Expenditure on the halal and lifestyle sectors increased 5.1% from 2017 while Islamic finance assets growth was a slower 3.5%.
The halal and lifestyle sectors are forecast to reach $3.2 trillion by 2024, a cumulative annual growth rate of 6.2% and Islamic finance assets are expected to grow a slower 5.5% CAGR to $3.472 trillion by 2024, according to the growth strategy research and advisory firm.
The State of the Global Islamic Economy report has ben published annually since 2013.
For the full report and all analyses download this year's report from this link.
DinarStandard is the parent company of Salaam Gateway.
© SalaamGateway.com 2019 All Rights Reserved