The eagerly awaited 8th edition of the Mastercard CrescentRating Global Muslim Travel Index (GMTI) 2023 was unveiled on the 1st of June 2023 at the Village Katong Hotel in Singapore. The launch event witnessed the presence of esteemed guests and industry professionals from around the world, with opening remarks delivered by Mr. Safdar Khan, Division President for Southeast Asia at Mastercard.
In his address, Mr. Khan expressed his delight at the continued success of the GMTI, which has become an invaluable resource for travel professionals seeking the latest trends and developments in the dynamic realm of halal travel. He recalled the journey that began almost a decade ago when he met Fazal Bahardeen, the founder of CrescentRating, and expressed his pride in how far they have come.
Several distinguished guests, including the honorable Minister of Tourism and Creative Economy of the Republic of Indonesia, the Deputy Minister of Tourism, Arts, and Culture Malaysia, and the Undersecretary of the Department of Tourism Philippines, graced the launch event. Their participation underscored the significance of the GMTI in shaping the future of the Muslim travel segment.
Amidst the uncertainties brought about by the global economy, Mr. Khan shared that optimism regarding travel recovery in 2022 has proven well-founded, with travelers eager to embark on overseas experiences after years of restrictions. With the mainland China travel market reopening, demand for overseas experiences is expected to continue throughout 2023 and beyond. The interdependence between China and Southeast Asia, in terms of trade and tourism, positions ASEAN economies and other regional players to reap the benefits of China's reopening.
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Mr. Khan emphasized the vital role played by the Muslim travel segment in this recovery. According to the GMTI, the total number of Muslim travelers worldwide is projected to reach nearly 140 million in 2023, approaching pre-pandemic levels. This resurgence highlights the speed of the recovery and emphasizes the importance of catering to the specific needs of Muslim travelers.
Asia, with its significant Muslim population and well-established cultural and religious infrastructure, has emerged as a top choice for inbound Muslim travelers. The GMTI reveals that Indonesia and Malaysia jointly hold the coveted number one position among Organization of Islamic Cooperation (OIC) destinations, while Singapore leads among non-OIC destinations. Thailand and the Philippines have also secured spots within the top 10.
As the travel industry adapts to the evolving needs of consumers, the GMTI highlights the shift in priorities among travelers, including Muslims. Experiential spending, such as unique travel offerings that connect with local cultures and communities, is increasingly favored over retail expenditure. Moreover, eco-tourism efforts are on the rise, particularly among younger Muslim travelers.
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Notably, alongside the recovery of leisure travel, business travel is also making a strong comeback. Corporate flight bookings are catching up with leisure bookings, indicating a resurgence in business travel. These positive trends reflect the travel sector's resilience and ability to surpass pre-pandemic levels of growth. It is crucial for the travel sector to adapt to changing demands, embrace digital advancements, and cater to the unique needs of Muslim travelers.
Acknowledging the significance of the GMTI, Mr. Khan expressed Mastercard's pride in its partnership with CrescentRating and its immense value to the travel industry. The comprehensive insights the index provides contribute to the ongoing recovery and establish a foundation for future growth in the Muslim travel sector.
In conclusion, Mr. Khan congratulated the finalists and winners of the Halal Trip 40 and Halal in Travel Awards. These accolades recognize and celebrate the contributions of individuals and organizations to enhance the seamless halal travel experience for millions of Muslim travelers worldwide.
The launch of the Mastercard CrescentRating Global Muslim Travel Index 2023 has unveiled a promising future for the Muslim travel sector. As the industry embraces the changing preferences of travelers and adapts to new consumer demands, the GMTI serves as an indispensable guide, shaping the recovery and growth of halal travel worldwide.
