more investment, risk-and-reward
sharing equity stakes, merger and
acquisition, venture capital plays
and micro-finance being put into
practice in the halal food sector.
Greater regulation will encourage
these moves, as will projects such
as the move to position Dubai as a
global hub for halal manufacture
and trade. While others have made
similar claims, Dubai’s geographi-
cal position, along with its ability
to have big ideas and then roll out
massive infrastructure projects and
see them come to life, make their
vision of being a centre for Islamic
economy and trade more credible.
If nothing else, it will certainly
bring increased awareness of the
value of the halal market.
A cursory glance at the global
population demographics makes it
very clear that the Muslim popula-
tions, both in the homelands and
among the re-rooted communities
in the West are younger and grow-
ing faster than any other group.
Increasingly well (and western) edu-
cated, a new generation is striving to
find a way of life that is compatible
with the Qur’an and Sunnah and at
the same time that fits with the 21st
century lifestyle. Halal food is one of
the cornerstones of this new global
urban Muslim lifestyle, and as this
group becomes more financially
secure and raise their families, they
will play an increasingly influential
role as valued customers.
Their preferences will be noted and
catered to. Their collective spend-
ing power will become a valued
statistic in the food, finance, travel,
health care, cosmetic, education
and leisure markets. A new genera-
tion wants a new Islamic lifestyle,
and they will have the spending
power to influence the producers.
The convergence of these three
forces will produce a new phase of
growth and maturity in the halal
market that will be felt over the
new couple of years in all corners of
this now global marketplace.
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