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