MDEC: $2.8tn ripe for digitalisation in global Islamic economy

The economic and business opportunities in the global Islamic Digital Economy (IDE) is undeniably immense. According to the State of the Global Islamic Economy Report 2022 by DinarStandard, Muslims worldwide spent an estimated $2tn in 2021 on food, pharmaceuticals, cosmetics, modest fashion, travel, and media – all of which having its own fair share of contribution to a borderless IDE.

This spending is forecasted to reach $2.8tn by 2025 at a cumulative annual growth rate of 7.5 per cent.

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