The Halal Economy As A Solution For Global Post-Covid Economic Recovery And Sustainable Environmental And Social Impact
The Halal Economy Conference hosted by Halal Expo London
The Halal Economy Conference in partnership with Halal Expo Manchester, will present insights into the Halal Economy as a solution for post-Covid economic recovery and discuss its environmental & social impact. It will consider consumer trends, the economic landscape following the pandemic, post-Brexit trade conditions and their various impacts upon sectors such as food, travel and ethical finance. The Conference will dive deeper into the journey of the Halal Economy and how it can help us overcome some of the challenges we face today.
At the start of the new millennium, multinational companies (MNCs) and small to medium enterprises (SMEs) in many countries started to look at ways to use Halal food to diversify and grow their businesses. New businesses and start-ups are now offering innovative & ethical halal products and services that span several lifestyle sectors. This will drive the next phase of the global Halal Economy’s growth into the United Kingdom.
A new generation of entrepreneurs has actively promoted diversity and driven growing demand for ethical commerce. This has produced unprecedented growth in the Halal industry – expanding it at nearly double the global rate. This success has been felt not just in the food and travel supply chains but in industries including fashion, personal care, supplements, pharmaceuticals, packaging and ethical finance.
The growth & journey of the Halal Economy has been divergent when entering different markets, facing separate & unique challenges and uncovering varied learnings & perspectives in each context. Indeed the pandemic also caused many nations to explore the idea of nearshoring thereby burgeoning local economies. The Halal Economy links to the wider global sustainable development goals and addresses the connectivity of trade and business with environmental and social impact. Especially in areas such as food provenance, health, global supply chain disruption and the changing demands of modern consumers.
Demand for halal and ethical products has been driven, in part, by a global Muslim population which has grown significantly to make up one quarter of the world’s population. Muslim consumer spending is also increasing year on year and the role of halal certification bodies in enabling global halal trade is an important one to consider. The rapid growth of the Halal Economy represents an immense economic opportunity, and it has the potential to realise some vitally important ethical and social development goals (SDGs). This includes actioning environmental & social impact in the areas of Climate Action, Women and Youth Empowerment, Health, Wellness & Tayyab and Halal Tourism.