Australia must act now to secure its place in the global Islamic economy
Australia has the foundations to become a significant player in the global Islamic economy, but stronger collaboration between government, industry and investors will be essential if it is to capture a greater share of one of the world's fastest-growing markets.
That was the central message from the launch of The State and Future of the Australian Islamic Economy, held in Sydney on Monday, 3 August, where government representatives, industry leaders and researchers gathered to discuss Australia's growing role across halal manufacturing, Islamic finance, tourism, technology and professional services.
The report, jointly produced by Salaam, DinarStandard and Salaam Gateway, argues that Australia's Islamic economy has reached a new stage of maturity, driven by a combination of demographic growth, export capability and changing consumer preferences that increasingly favour ethical, values-based products and services.
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