$30bn Franchise Sector Set To Register Steady Growth In The UAE
The UAE represents $30 billion (Dh110bn) of the global $4 trillion franchise business, and the sector is expected to grow steadily in the region in 2009, said experts at the Franchise Middle East exhibition in Dubai yesterday.
“Franchises in the UAE and the region, especially in the food sector, will continue to grow but at a more steady pace for the year 2009 compared to last year due to the global financial crisis,” said Mohammed AR Falaknaz, Vice-President of International Expo-Consultants – a member of Dubai-based Falak Holding.
“In 2008, we had a growth rate of 25 per cent and we were expecting more than 100 participants this year. Last year we had 73 participants from 20 countries and this year there are 72 participants, but from 22 countries – so it is almost the same and we consider that very good under the current circumstances.”
This year’s Franchise Middle East exhibition was inaugurated by Sami Al Qamzi, Director-General of the Dubai Economic Department. The event is now in its sixth year. The UAE, with 19, had the maximum number of participants. There were eight from the US, six from Singapore and four from Kuwait. Participants also came from several other countries in Europe and Asia.
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