Business | Economy
Middle East franchise market set to explode
The Middle East is expected to see soaring growth in the franchise sector, according to industry experts.
- Staff Report
- Published: 00:19 May 23, 2008
Dubai: The Middle East is expected to see soaring growth in the franchise sector, according to industry experts.
The fifth Franchise Middle East trade show saw 70 brands from 25 countries, with a target to taking their brands global.
According to Mathew Shay, president of the International Franchise Association (IFA), the UAE's franchise business is worth more than Dh1.1 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.
Success
Abdul Rehman Falaknaz, president of International Expo Consults, organisers of the Franchising Middle East exhibition, said that the show had proved a phenomenal success.
"Franchising is the single most productive system of distribution for a brand," Falaknaz said.
"It connects the operation with different parts of the world and enables companies to go global in a cost effective manner. The success of this week's trade show is testament to the success of the franchise system and we look forward to seeing more regional brands become global names as a result of this week's business," he said.
Franchising Middle East is the largest international franchise exhibition in the Middle East and is supported by the IFA.
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