The Middle East, with a convenient geographic location, cross cultural mix of populations, vibrant commercial environment and a proactive business-friendly outlook has traditionally been a home to a uniquely diverse international consumer base. Over the past many years, the Middle East has clearly established itself as a lucrative destination for franchisors and franchise brands from across the globe, who aim to benefit from the region’s distinct business dynamics and take advantage of it as a key engine to stimulate growth and expansion opportunities in the region.
While the GCC region in the Middle East is ranked as the world’s 11th largest economy with a combined population of 51 million people, its gross GDP is valued at 1.6 trillion dollars. With such promising figures in sight, it is not surprising that the list of franchisors across the globe seeking to explore the rich markets in the region and expand their footprint in the region is steadily rising.
Franchising in the GCC and the wider Middle East:
In the world of franchise business, the GCC and the wider Middle East region has become a leading hub especially in food, hospitality, beverage and retail operations, with a number of premium international brands making inroads into the region. According to a latest report by MENA research partners, the F & B market in the GCC is expected to grow around 7.1% annually, reaching 196 billion dollars by 2021, from the current 130 billion dollars. Saudi Arabia will account for over half of this spending followed by the UAE at 31%.
For franchise brands within in the ASEAN countries, such as Philippines, Singapore and Malaysia, the UAE’s close geographical proximity, presents huge franchise business opportunities.
As the second largest emirate in the UAE, Dubai is a global metropolitan city offering a perfect platform for businesses to thrive. With a leading reputation for tourism, entertainment, shopping and a world-class infrastructure, Dubai has become a business hub for millions of residents, who revel in its luxury lifestyle appeal.
Additionally, Dubai’s attractiveness and competitiveness among top financial centers worldwide is offering it a special status as a leading franchise destination, where Dubai ranks 15th ahead of Abu Dhabi, Bahrain and Riyadh. Furthermore, Dubai is witnessing a huge spike in foreign direct investment FDI, making it the 10th best global destination for capital investment.
As a testimony to its growing popularity as a franchise destination, a recent report by the UAE Ministry of Foreign Affairs, suggests that more and more franchise brands from the Philippines have successfully gained a foothold in Dubai.
With a rising expat Filipino population of 700,000 in the UAE, the Filipino community is a thriving populace, who are creating strong people to people bridges of friendship and strengthening partnerships in various key sectors such as business, education, health and culture.
According to Euromonitor International’s figures, while there were 16,720 Filipino F & B outlets in the UAE at the end of last year, it is suggested that by 2020 this figure is expected to reach an impressive 19,000.
Come visit The Global Franchise Market Exhibition (TGFM) in Dubai – The Largest Franchise Event in the Region
The Global Franchise Market Exhibition – (TGFM), which is annually held in Dubai is a dedicated platform for local and international ‘franchisors’ and ‘franchisees’ to explore new business partnerships and investment opportunities in the region.
It is worth mentioning that this year, TGFM will be taking place on the 5th and 6th of November, at the iconic Dubai International Convention and Exhibition Centre.
In its 4th edition, TGFM brings together leading investors, master franchisees, licensees, entrepreneurs, mall operators and leading brands in various sectors and is expected to attract over 1,600 visitors and participants and witness the participation of over 100 leading brands from 40 countries.
For the first time, TGFM 2019 presents a ‘Franchise Business Hub’, which is an exclusive networking platform designed to provide the decision-makers from the leading master franchisees, franchisees and investors a chance to recognize the new trends in F&B, retail, health & beauty, education, services, hospitality, and other service providers. Attending visitors are expected to benefit from a time-efficient program which will offer an opportunity to preschedule one-to-one meeting with TGFM exhibitors.
The Global Franchise Market Exhibition is annually organized by INDEX Conferences and Exhibitions – a member of INDEX Holding and is sponsored by FrancorpME and Franchise Souq.