Hong Kong’s recognition as the “Most Promising Muslim-Friendly Destination” by the Global Muslim Travel Index reflects the city’s growing appeal to Muslim travellers.

The HKGCC x FHKI forum on “Understanding Halal Market: Strategies for Unlocking Opportunities” in October turned the spotlight on Hong Kong’s multi-pronged approach to promote the halal economy and enhance its Islamic finance infrastructure. In his opening keynote address, Financial Secretary Paul Chan noted the surging global demand for halal products and Islamic financial services, underscoring the importance of tapping into this expanding market.

The global halal economy is powered by a Muslim population exceeding two billion – more than a quarter of the world’s total. By 2028, Islamic finance assets are expected to reach US$7.5 trillion, while the halal market is projected to grow to nearly US$4 trillion, driven in part by the spending power of 250 million Muslim travellers around the globe.

These developments are unfolding in parallel with China’s broader commitment to opening up and wider collaboration with Belt & Road partners and the Global South. Over the past decade, exports from the Chinese Mainland to Organisation of Islamic Cooperation (OIC) countries have surged by upwards of 80%, reaching nearly US$600 billion. Imports from these countries have also climbed significantly.

Muslims make up roughly 4% of Hong Kong’s population, enriching the city’s multicultural tapestry and underscoring the need for inclusive practices that reflect the diverse needs of both residents and visitors. For businesses, cultivating a deeper understanding of the cultural and religious nuances across Islamic regions –  from the Middle East to Southeast Asia – can be a powerful asset. Such cultural literacy is essential for building trust and fostering enduring relationships.

One of the most visible shifts is happening in the city’s food & beverage and hospitality sectors. The recent launch of the Hong Kong Q-Mark Halal Scheme by FHKI marks a major step forward in certifying local restaurants that meet halal standards. The first batch of certified establishments is expected by late 2025 or early 2026, making halal dining more accessible.

Beyond tourism, Hong Kong is positioning itself as a regional hub for Islamic finance. The city is well-equipped to support sharia-compliant financial instruments such as Sukuk bonds. Furthermore, the Government’s updated Talent List now includes Islamic banking professionals to strengthen the financial sector.

Hong Kong’s rise as a Muslim-friendly destination will boost economic diversification, cultural exchange and strategic connectivity, positioning the city as a leading hub for halal tourism and Islamic financial services.

Agnes Chan
chairman@chamber.org.hk