🇲🇾 Malaysia’s tourism sector surges

It’s Muslim news round-up time! And in a week where Saudi Arabia hosted the best tennis players in the world and made them wear funny-looking crowns (okay, it was photoshopped, but still…) and Emirates extended its partnership with AC Milan (no strange attire there, unless you count airline logos in 84-point font across your chest), we get nostalgic for a time when Kareem invented the skyhook and his only crown was metaphorical. But first…

…here’s what’s in store today:

Let’s jump right in!

The race to be the #1 Muslim holiday destination

No, we’re not talking about where you’re spending next summer (What? Turkey again?), we’re talking business opportunities. And something of a competition is hotting up in the Muslim vacation/pilgrim stop-off market.

All signs point to Southeast Asia

As it stands, Muslim tourists make up around 20% of Malaysia’s visitors. But because the country faces such stiff competition from neighbors near and far – notably Indonesia, Singapore, and Thailand – it’s redoubling its efforts and coming out swinging.

Part of this push is the country’s Islamic Tourism Centre starting the (take a deep breath) Muslim-Friendly Tourism and Hospitality Assurance and Recognition programme. It’s a very long way of saying that the country can now certify businesses that meet key standards expected by Muslim travelers. It’s a stamp of approval.

Malaysia has also introduced a Muslim-Friendly Tourist Guide scheme, which means guides who cater to Muslim travelers can get accredited. Peace of mind for all concerned.

Okay, fine, it is big business

It’s projected that global Muslim travelers will number 230 million (spending $225 billion) by 2028. That’s quite the market. And whether it’s established organizations in air travel and hospitality, or small businesses finding a niche service that appeals to Muslim travelers, it’s an exciting time. And Malaysia wants a piece. Or maybe several pieces. 

All of which syncs up nicely as the country prepares for Visit Malaysia 2026. With the government aiming for 36 million arrivals – as well as positioning the country as a pre-Umrah stop-off for regional pilgrims – these developments indicate major opportunities for Muslim entrepreneurs and investors.

Q3 2025 sets record with $1.2 billion

MENA startups raised a record $1.2 billion in the third quarter of 2025, marking a 60% jump from Q2 and a 4x increase year-on-year. That’s quite the boost, driven by mega deals of $100+ million, with the UAE and Saudi Arabia leading the charge. 

In fact, across the first nine months of 2025, MENA startups secured $3 billion. But don’t tell Southeast Asia, as this was the first time MENA actually overtook its rival. Meanwhile, MENA’s M&A market more than doubled year-on-year. 

Fintech (no surprise there) remained the leading sector, achieving its strongest nine-month performance on record. 

With increased investor interest and changing regulations to make foreign business ownership easier than ever, budding entrepreneurs should check out the Dubai Startup Guide 2025 or one of the many KSA guides like Setup in Saudi.

Fintech, foodtech, and edutech gain Muslim investment

Consumers increasingly want transparency from the companies they buy from and want to see that the products or services they buy are grounded in values they share. 

Investor interest is being drawn to fintech (yeah, I know we already talked about it, but it did attract over 50% of all venture capital allocations in 2024), as well as foodtech (of the halal variety) plus Muslim-friendly edutech startups. Whether it’s a platform that verifies halal products or enables a company to source ethical ingredients, these niches are not so niche anymore. I mean, two billion people is a pretty big niche. More of a canyon, really.

What has really powered fintech is the rising demand for Sharia-compliant digital banking, payment gateways, and ethical alternatives for millions who are currently unbanked or simply underserved by legacy companies. If other sectors like education and food can use this as a model for what customers want and what investors are looking for, the opportunities are there.

This surge in funding indicates a maturing global Islamic digital economy, with innovations finding a home in both Muslim-majority and non-Muslim markets alike, and where ethics are playing a role in consumer choice as well as investor decision-making.

Okay, no more fintech in this issue. Promise!

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Gulf Sovereign Wealth Fund assets to reach $18 trillion by 2030

Talking of fintech. No, just kidding. Let’s talk about a new report from Deloitte Middle East, which highlights the dominant role of Gulf Sovereign Wealth Funds (SWFs) in global investment growth, with total assets under management projected to reach $18 trillion by 2030. 

You could buy a lot of soccer teams with that kind of cash.

But the report actually shows that the funds are pivoting more towards Asian markets, with Gulf SWFs investing $9.5 billion into China during the year ending September 2024.

There are 170 SWFs globally, and while Norway and China top the list in terms of size, the Gulf wins when it comes to control. In fact, around 40% of worldwide SWF assets are owned by GCC countries, and they account for six of the ten largest sovereign investors globally. Their combined investments reached $82 billion in 2023 and a further $55 billion in the first nine months of 2024. This is almost two-thirds of all new SWF activity worldwide.

New London exhibition

In case you’re not fully read-up on your Indonesian textile dyeing techniques (and if not, why not?), then a new exhibition in London will set you straight.

The art of decorating cloth using wax and dye is practised in many countries around the world, but one Singaporean artist, Fathiah A’bdussamad, is using it to explore her Indonesian heritage. 

And she is bringing the traditional art to London, showcasing her work at The Garrison Chapel. 

Her exhibition features pieces inspired by her childhood memories, spiritual journey, and Indonesian heritage.

Okay, I’m off to watch some Kareem highlights from the 80s. No photoshopped crowns, no airline advertising. Just six championships. Yes, six. Same as Jordan. 

Till next time…

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