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Of the 11 countries expected to join the world’s largest economies this century, six have overwhelmingly Muslim populations and two have big Muslim minorities. By 2050, India will have the largest Muslim population in the world, at an estimated 311 million, although they will still be a minority among the country’s vast numbers. Muslim minorities in Britain, Europe and North America are young, affluent and growing. One-third of all Muslims are under the age of 15, and two-thirds under 30.
The Muslim middle class is expected to triple to 900 million by 2030, driving consumption as well as social and political change. Their spending power is enormous: the most recent State of the Global Islamic Economy Report forecasts the halal food and lifestyle industry to be worth $2.6tn by the end of this decade, and Islamic finance is on a similar trajectory. Muslim travel could be worth $233bn. In 2014, Muslim fashion was estimated to be worth $230bn, and $54bn was spent on Muslim cosmetics.
“Through their sheer numbers, their growing middle-class stature, the shift of economic and political power towards the Middle East and Asia, home to most of the world’s Muslims, through the Muslim minorities that act as influential and well-connected leaders, by the inspirational force of their faith and their refusal to accept the status quo, Generation M are determined to make change. And what a change it’s going to be,” writes Janmohamed.
She charts the beginnings of this change. The demand for halal (permitted) products has been the impetus for growth in a range of businesses, such as food, fashion, cosmetics and travel. Among dozens of entrepreneurs cited in the book are the Radwan family, who started an organic halal farm in Oxfordshire; the producers of non-alcoholic beer – a sector that grew 80% in the five years to 2012, according to the Economist; Shazia Saleem, who launched ieat, a range of halal ready-meals including shepherd’s pie and lasagne, which are now sold at Asda, Sainsbury’s and Tesco; and “a whole new Muslim fashion industry”, incorporating online retailers, video bloggers, catwalk shows and haute couture.
But Generation M, according to the book, wants to go beyond halal to tayyab, which roughly translates as “ethical and wholesome”. They want the entire supply chain of production and consumption to have integrity. “Resources must be properly respected, workers in primary industries must not be exploited. Sustainability and renewability are part of the Islamic idea of ‘stewardship of the Earth’, which Generation M eco-Muslims … are championing.”
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https://www.theguardian.com/world/2016/sep/03/meet-generation-m-the-young-affluent-muslims-changing-the-worldI thought it would be nice to post something optimistic about the state of the Muslim world. Guys, I promise this will be the last news article I'll link this month. I'm sure some of you are annoyed by now.
Topic: Meet Generation M: the young, affluent Muslims changing the world