Industry experts predict US$1bn in annual growth as Franchising Middle East show closes.
The Middle East will see exponential growth in the franchise sector; that is the message to come from the fifth edition of the Franchising Middle East trade show, which came to a close this week.
Over 70 brands from 25 countries attended the exhibition, all with one aim in mind: to take their brands global. With an excellent visitor turnout, Franchising Middle East looks certain to have catapulted some regional brands onto the world stage.
‘The Middle East market is very exciting and dynamic. Our expectations for this market are huge and already, following the Franchising Middle East exhibition, the feedback has been very positive.
‘The economy of the UAE is growing, entrepreneurs are evolving, and the service industry is developing. This all points to a wealth of opportunities for franchising,’ said Mathew Shay, President of the IFA (International Franchise Association) visiting Dubai for the first time.
IFA represents over 1,400 franchise companies worldwide and is heavily involved in policies and public relations concerning the franchise sector.
According to Shay, the UAE’s franchise business is worth over AED 1.1 billion, and that figure looks set to grow in the near future.
‘More international companies are showing keen interest in Dubai and, with the US economy being stagnated, the local market is grabbing the opportunities,’ he said. More here.
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