Dubai -- Dubai has been ranked the number one destination in the world for Muslims to travel to for shopping purposes, according to a new report released by MasterCard and CrescentRating 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 traveler 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 the leading
destination with a weighted score of 79.5 out of 100.
Dubai tops the list of shopping
destinations for Muslims outright, being recognized as the first-placed Organization
of Islamic Cooperation (OIC) MTSI 2015 destination as well as heading the list
of non-OIC destinations. The city’s next closest competitor is Kuala Lumpur in
Malaysia, with a score of 73.3, emphasizing just how successfully Dubai has
been able to market itself as a leading shopping destination. Sharjah ranked
fifth highest MTSI destination in the Arab World, coming in 12th overall with a
competitive score of 55.3.
Other cities from within the Arab World
performed strongly on the MTSI 2015. Manama in Bahrain was the second highest
ranked destination in the Arab World according MTSI Index for destinations
within the OIC, coming in at seventh overall with a score of 59.6. Doha in Qatar
was close behind with an overall ranking of eighth, and a score of 59.5. Riyadh
in Saudi Arabia was the fourth highest ranked destination in the MTSI 2015 OIC
list for the region, with an overall ranking of ninth and a weighted score of
59.3.
Raghu Malhotra, Division President,
Middle East and North Africa, MasterCard said, "With 108 million Muslim travelers
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 organizations. We are very pleased to publish this Index on the
travel and shopping patterns of Muslim communities in order for organizations
around the world to more effectively target and capture share of this lucrative
travel sector.
Earlier this year, Dubai was ranked
amongst the top five most popular destination cities in the world in
MasterCard’s 2015 Global Destination Cities Index and has consistently advanced
its position since the annual index first launched in 2012. This further
underlines the city’s dynamism and enduring positive reputation amongst
international travelers."
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 travelers 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.
Key findings of the MTSI 2015 report
include: Total expenditure of Muslim travelers visiting the 40 cities included
in the report amounted to $36 billion in 2014. Of this total expenditure, $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 $250 – 500 on shopping whilst travelling,
while 24 per cent spend between $500 – 1,000, and 20 per cent spend over
$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 utilize
debit cards.
Singapore and London ranked among the
top five destinations for Muslim shopping travelers, 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 travelers by proactively
catering to this segment.
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