Franchises Growing At 27% In Region

Gulf News:

Industry analysts estimate the Middle East region generates franchise-driven revenues of $30 billion and that the franchising sector is experiencing a 27% annual growth rate.

Franchised and licensed businesses have penetrated many sectors, including education, transportation and tourism, but its most significant and evident impact has been in the region’s retail sector.

Second only to real estate, retail is driving the non-oil economy and leading the charge is retail franchising, with fast food outlets now accounting for up to 40% of the retail franchising sector.

Fashion, lifestyle and high-tech accessory brands are also attracting an increasing number of image and fashion-conscious regional consumers, say analysts.