Hong Kong and the UAE are making significant strides in the halal industry, catering to the growing global demand for halal products and services. Hong Kong is set to introduce a ‘Q Mark’ for halal-certified offerings to attract Muslim tourists, whose market is projected to reach $300 billion by 2026. This initiative has already seen the number of halal-certified restaurants in Hong Kong double to 200 since June 2024.
Meanwhile, the UAE has approved a comprehensive strategy to bolster its Islamic financial sector and increase local halal production, aiming to capture a larger share of the global Islamic market. The strategy includes increasing the assets of Islamic banks in the UAE from 986 billion Emirati dirhams to 2.56 trillion Emirati dirhams within six years and raising the value of listed Islamic sukuk to over 660 billion Emirati dirhams by 2031.
Pakistan Halal Authority (PHA) also held a webinar on Halal Food Authentication on March 13, 2025, and a seminar on Halal Assurance and Halal Trade on March 5, 2025. These moves reflect the increasing importance of the halal market, driven by a rising Muslim population, higher disposable incomes, and greater awareness of halal principles, which are also gaining traction among non-Muslim consumers due to their perceived ethical and quality standards.