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“Driving OIC member countries’ opportunity in halal trade and investments is its halal lifestyle consumer demand ($1.7 trillion in 2021) representing 79% of the global spending ($2.1 trillion).” It added that the Muslim bloc is expected to spend $1.5 trillion on food consumption by 2026. “This presents a strong window of opportunity for (the) OIC countries to ramp up production, leverage growing consumer demand for healthy and organic food products and adopt digitalization across the industry,” the report suggested. Muslim bloc spent $141 billion on media and recreation. While the Islamic finance assets amounted to $3.32 trillion in 2020, the report said the OIC members made up six of the top 10 global markets for Muslim consumers spending on media and recreation last year. Muslim consumers from the OIC countries spent an estimated $141 billion on media and recreation, which is expected to reach $211 billion by 2026, it said. Despite the COVID-19 pandemic having a big impact on travel, the report said Muslim travelers from the OIC nations spent a total of $86 billion last year. Barcelona manchester city.
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