Qatar is a flourishing halal economy hub: IPA Qatar

Qatar is a flourishing halal economy hub: IPA Qatar

Doha: The Investment Promotion Agency of Qatar (IPA Qatar) conducted a study that shows that the State of Qatar serves as a flourishing halal economy hub, as Qatar focuses on core sectors with high growth potential has set the stage for an impressive halal market size across industries.

The study further shows that the global halal economy is taking centre stage, showcasing its significant growth and potential to reach a staggering USD 7.7 trillion in market value by 2025, up from USD 3.2 trillion in 2015.

This thriving sector, which adheres to Islamic principles and values, encompasses a wide range of industries from finance and food to pharmaceuticals, travel, cosmetics and fashion. In recent years, the halal economy has gained increasing attention and investment, with a compound annual growth rate of 9.2 percent forecast between 2015 and 2025.

As the halal economy continues to expand and diversify, it presents a unique opportunity for businesses and investors to tap into a growing market of consumers, who seek ethical halal products and services.

The study pointed to the fact that the GCC region is well-positioned to benefit from this market growth, with Qatar serving as the hub of this booming sector.

The country has already established itself