@Halal January/February 2024 | Page 33

13
January-February . 2024

Outlook 2024

13
DinarStandard™
�EALT� AND �ELLNESS AND BLEISURE TOURISM

DINARSTANDARD Partner Reem El Shafaki ,, highlighted several critical signals of opportunity identified in the State of the Global Islamic Economy Report 2023-24 , focusing on tourism . One of the opportunities identified is in health and wellness tourism .

“ Health and wellness tourism is a thriving sub-sector , poised for continued growth . Remarkably , it ’ s not just hospitals and medical spas in the limelight ; hotels are now stepping into the healthcare arena , offering services like IV drips and stem-cell therapies .
“ Alongside this , emotional and mental health retreats are experiencing a surge , reflecting an evolving consciousness around mental well-being . Industry players should seize this opportunity by customising offerings for Muslim travellers . They may consider , for example , wellness rooted in Prophetic traditions and infusing spirituality into emotional health retreats .”
According to the report , another critical opportunity in the tourism industry is bleisure tourism , seamlessly blending work and leisure for a fulfilling travel experience . Reem said the post-Covid-19 era has normalised remote work , catalysing this bleisure tourism surge . This trend involves employees and business owners combining business trips with leisure activities . Travellers are increasingly extending their stays to enjoy tourist attractions or working remotely from picturesque locations while balancing work and leisure . This shift reflects the growing importance of work-life
balance in modern travel preferences .
“ Accommodating the needs of business travellers who blend work and leisure is pivotal . Hotels and travel agencies must adapt to this evolving trend .”
TOURISM REVOLUTION DRIVEN B� AI
The State of the Global Islamic Economy Report 2023-24 also highlights a promising trend in Artificial Intelligence ( AI ) in tourism .
“ AI is revolutionising travel across multiple fronts , from virtual assistants providing personalised recommendations to executing data-driven target marketing campaigns . AI-driven pricing strategies , predictive analytics , and data-driven insights transform travel businesses ’ operations .
“ AI ’ s data-driven approach also allows for sentiment analysis on customer reviews to identify improvement areas and expedite visa processing for smoother travel experiences . Travel businesses should prioritise AI integration across the travel value chain , encompassing areas such as customer service , product development , marketing campaigns , and operations ,” said Reem .
OPPORTUNITIES FOR COUNTRIES �IT� RIC� ISLAMIC TRADITIONS
Reem stated that spiritual retreats were on the rise . More and more companies have started to organise spiritually-focused
Reem El Shafaki
retreats for Muslims keen to experience a tourism destination while increasing their spirituality . Travel companies have an opportunity to concentrate on and scale this product offering to meet the growing demand .
“ For example , The Productive Muslim and HalalTrip organise annual spiritual retreats that combine spirituality with the cultivation of productive habits . Another growing trend in the Islamic economy space involves businesses choosing to host their corporate retreats in countries with rich Islamic traditions like Turkiye , Morocco , and Jordan . These retreats often integrate spiritual elements and visits to heritage sites .”
She highlighted that Saudi Arabia strategically channels investments into its tourism sector , emphasising luxury , adventure , and heritage tourism . The government ’ s proactive initiatives are drawing increased involvement from the private sector , thereby reshaping the global tourism landscape .
“ Notably , the Public Investment Fund ( PIF ) has established Asfar , a tourism investment company , to encourage private sector participation in the country ’ s tourism endeavours . This move creates co-investment opportunities and invites private sector collaboration , making Saudi Arabia an attractive destination for both travellers and investors in the coming years .”
DinarStandard™ is a growth strategy research and execution management firm dedicated to empowering organisations for profitable and responsible global impact .
Malaysia Aviation Group
O��ORTUNITIES IN T�E MUSLIM TRAVEL MARKET

MALAYSIA Aviation Group ( MAG ) CEO of Airlines , Ahmad Luqman Mohd Azmi , noted a significant trend in the travel industry — the increasing acknowledgement of the economic potential within the halal tourism market and the demand for Muslim-friendly destinations . He said Malaysia ’ s recognition as the ‘ Best Muslim-friendly destination ’ underscored the opportunities for countries and businesses to tap into this growing market . This involves providing a diverse range of halal-certified services , culinary options , and prayer facilities to cater to the expanding market .

“ As the national carrier , Malaysia Airlines takes pride in contributing to inbound and outbound tourism , facilitating connectivity from our main gateway in KL International Airport to the world . This aligns with our broader goal of promoting Malaysia as a premier destination , showcasing the rich cultural heritage , stunning landscapes , and vibrant cities .”
SUSTAINABILITY AND DIGITALISATION
“ Another notable trend in the tourism industry is the increasing emphasis on sustainable travel . In response to consumers making more environmentally conscious
choices , airlines , hotels , and tourism operators have introduced eco-friendly initiatives .
“ For instance , Malaysia Airlines launched a voluntary carbon offset programme earlier this year , allowing customers to calculate , understand , and offset the emissions associated with their flights . This trend is expected to gain momentum in 2024 , as travellers prioritise destinations and experiences that align with their values ,” shared Luqman .
He highlighted that the third key trend centres on the need for timely and personalised digital solutions , emphasising the overarching role of digitisation and technology in shaping both the industry and consumer decisions . In the context of Muslim-friendly destinations , this may entail offering digital tools for halal dining recommendations , locating prayer spaces , and providing cultural insights .
“ By leveraging technology to enhance the overall travel experience , destinations can cater to the preferences of tech-savvy Muslim
Ahmad Luqman Mohd Azmi
“ By leveraging technology to enhance the overall travel experience , destinations can cater to the preferences of tech-savvy Muslim travellers , creating a more engaging and immersive journey .”
travellers , creating a more engaging and immersive journey .
“ To stay competitive , tourism industry players will likely need to adopt a similar personalised approach , offering bespoke tour packages , accommodation options , and exclusive experiences that resonate with the individual preferences of travellers . Flexibility and agility will be key in adapting to evolving consumer preferences .” – RnR
Malaysia Aviation Group ( MAG ) is a global aviation organisation comprising three focused business portfolios : Airlines , Loyalty and Travel Services ( LTS ) and Aviation Services .