Does Islamic Financing Matter for Halal Tourism?

Sevgi Osman – Varna Free University, Department of Economics, Yanko Slavchev 84, Chaika Resort, 9007 Varna, Bulgaria

Abstract: The halal travel industry is growing thanks to solvent Muslims, who want to travel and explore the world without violating Islamic principles. Given the wealth of the Arabic world, this demand could prove to be a profitable market if they are actually compliant with Sharia principles. On the other hand, as also Islamic finance continues to grow and new players enter the market, the oppor­tunities for innovation and collaboration in the Muslim-friendly travel space are limitless. With a shared commitment to inclusivity and ethical practices, these industries are well-positioned to drive growth and create lasting economic impact in the years to come. Businesses in the tourism sector have to explore the syner­gies between these industries and consider how Islamic finance can help them grow and innovate. The intersection of Islamic finance and Muslim-friendly travel presents a unique opportunity for growth, innovation, and inclusivity and can create an ecosystem that benefits travelers, businesses, and communities alike.

8th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2024 – Conference Proceedings, Hybrid (Zayed University, Dubai, UAE), October 24, 2024

ITEMA Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2024 Conference Proceedings: ISBN 978-86-80194-89-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2024

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