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Al-Infaq : Jurnal Ekonomi Islam
ISSN : 20872178     EISSN : 25796453     DOI : https://doi.org/10.32832/alinfaq
Core Subject : Economy, Education,
Al-Infaq : Jurnal Ekonomi Islam published twice a year since 2010 (June and December), is a multilingual (Bahasa and English), peer-reviewed journal, and specializes in Islamic Economic. This journal is published by the Islamic Economic Department, Faculty of Islamic Studies, and Doctoral Program of Islamic Economic, Graduate School, Ibn Khaldun University of Bogor, in partnership with Ibn Khaldun University of Bogor, Indonesia, in partnership with Masyarakat Ekonomi Syariah (MES) Wilayah Bogor. Editors welcome scholars, researchers and practitioners of Islamic Economic around the world to submit scholarly articles to be published through this journal. All articles will be reviewed by experts before accepted for publication. Each author is solely responsible for the content of published articles.
Articles 192 Documents
EXCHANGE RATE AND INFLATION INTERACTIONS AND THEIR IMPACT ON HAJJ COSTS: A VECM APPROACH Dewi Fazira; Khairina Tambunan; Nuri Aslami
Al-Infaq Jurnal Ekonomi Islam Vol. 17 No. 1 (2026): June2026
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/alinfaq.v17i1.2936

Abstract

This study aims to analyze the effects of exchange rates and inflation on the cost of the Hajj in Indonesia during the period 1996–2025. The data used consists of annual time-series secondary data sourced from the Central Statistics Agency (BPS), Bank Indonesia, and the Ministry of Religious Affairs of the Republic of Indonesia. The analysis method used is the Vector Error Correction Model (VECM). The results of the Johansen cointegration test indicate a stable long-term relationship between the variables. The research findings through VECM estimation show that in the long run, the Exchange Rate (t-stat 2.51) and Inflation (t-stat 7.03) have a positive and significant effect on Hajj Costs. The results of the Variance Decomposition for the 10th period show that the Exchange Rate contributes a larger shock of 4.86% compared to Inflation at 2.82% to the variation in Hajj Costs. This indicates that the stability of the Rupiah exchange rate is a crucial factor in determining Hajj costs in Indonesia
Integrating Eco-Friendly Practices and Sharia Principles in Halal Tourism: A Multi-Factor Analysis of Visitor Satisfaction and Loyalty Abdul Wahab; Zakiyah; Iman Setya Budi; Ilma Mahdiya
Al-Infaq Jurnal Ekonomi Islam Vol. 17 No. 1 (2026): June2026
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/alinfaq.v17i1.3057

Abstract

The rapid growth of the global Muslim travel market has positioned halal tourism as a strategic segment of the international tourism industry. Despite this development, empirical studies integrating Muslim-friendly service quality, eco-friendly destination practices, and Sharia-based price fairness in explaining visitor satisfaction and destination loyalty remain limited. This study aims to examine the effects of Muslim-Friendly Service Quality, Eco-Friendly Destination Practices, and Sharia Price Fairness on Visitor Satisfaction and their subsequent influence on Revisit Intention and Destination Loyalty at halal tourism destinations in Banjarmasin, Indonesia. A quantitative research approach was employed using a survey of 250 tourists who had previously visited Muslim-friendly tourism destinations. Data were collected through a structured questionnaire using a five-point Likert scale and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings reveal that Muslim-friendly service quality, eco-friendly destination practices, and Sharia price fairness exert positive and significant effects on visitor satisfaction. Furthermore, Muslim-friendly service quality, Sharia price fairness, and visitor satisfaction significantly enhance revisit intention and destination loyalty. Although eco-friendly destination practices do not have a significant direct effect on destination loyalty, they exert a significant indirect effect through visitor satisfaction, confirming its mediating role. These findings underscore the importance of integrating Sharia-compliant service quality, environmental sustainability, and fair pricing strategies to strengthen the competitiveness and long-term sustainability of halal tourism destinations.