Report: The Economic Contribution of British Muslims to the UK’s Growth and Prosperity
Religion Media Centre
EQUI Report
September 2024
By Mohammed Sinan Siyech
and Sofiah Laila Shah
The Economic Contribution
of British Muslims to the
UK’s Growth and Prosperity,
and the Risk of Exodus
The report shows that British Muslims contribute to the United Kingdom economy in numerous ways, in areas stretching across key sectors such as healthcare, the Civil Service, education, transportation and also increasingly in politics. Businesses owned by British Muslims are thriving as well, contributing billions to our economy and employing hundreds of thousands of our fellow citizens of all faiths and none. These businesses are helping revive local communities in places that have been facing economic decline.
Beyond their domestic contributions, British Muslims are, in an era of globalisation, well placed to generate business for our country through Islamic markets worldwide. We are now the leading destination for those seeking Islamic finance, with London holding 85% of the assets of the European Islamic banking sector. Industry linked to halal products has been valued at over £8 billion. Tourism from predominantly Muslim countries brings in further revenue and helps underpin our country as a global cultural hub.
This comprehensive study not only quantifies the significant impact of the Muslim community on our nation’s economy but also offers clear light on the potential risks we face if we fail to address the concerns driving many talented British Muslims to consider emigration. The research reveals that British Muslims generate £70 billion a year for the UK economy. This impressive figure encompasses contributions from various sectors, including £42 billion from the Muslim workforce, around £25 billion from Muslim-owned businesses, and £2.4 billion in charitable donations and volunteer time. These numbers tell a story of a community that is not just integrated but is actively shaping and strengthening the fabric of our society.
TO READ THE FULL 32 PAGE REPORT PLEASE GO TO:
https://equi.org.uk/wp-content/uploads/2024/09/Equi-Economic-Contribution-Report.pdf
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