The franchise economy has an estimated market value of $30 billion and an annual growth rate of 27% making it the fastest-growing non-oil sector in the Middle East region. In the recent years, the Middle East region has witnessed a significant growth in the franchise economy with a number of substantial deals signed across different sectors such as food and beverage; hospitality; and retail.
For instance, fashion retailer, Fawaz Abdulaziz Alhokair & Co signed a deal worth $90m to acquire Saudi franchise rights for 10 international food and beverage brands. Earlier this year, InterContinental Hotels Group (IHG) signed franchise agreements to operate two Staybridge Suites hotels in Dubai with real estate development firm SRG Holding. IHG also announced franchise agreements with Loulouat Al Madinah Hospitality and Al Hokair Group for two new Holiday Inn properties in Saudi Arabia. Crown Concepts Group also signed its first franchise agreement with Al Medrar for Logma Khaleej Treats to expand into a new market, Saudi Arabia.
Addressing this and more, the seventh edition of the International Franchise Exhibition (IFE) will take place between 22-23 October, 2019 at the Abu Dhabi National Exhibition Centre (ADNEC). Organised by the Abu Dhabi Chamber of Commerce and Industry (ADCCI) in strategic partnership with Emirates Association for Franchise Development and supported by the International Franchise Association (IFA) and Institute of Certified Franchise Executives (CFE), IFE is one of the most successful franchise exhibitions in the world.
The exhibition is expected to host over 100 international and local exhibitors from over 15 different sectors including tourism & leisure, real estate, fashion, hospitality, IT, financial institutions, trade, transport, healthcare & pharmaceuticals, education, food & beverage, retail, education & training, safety & security, manufacturing & maintenance, joined by franchise societies, associations and experts.
Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber, said “The franchise model is increasingly growing within the region and events such as International Franchise Exhibition provide a significant platform to meet international and local brands, interact with business investors and showcase innovative and unique business concepts to prospective franchisees, SMEs, and entrepreneurs.”