The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMar 2014
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Relatively small in terms of population, the six states of the Gulf Cooperation Council nevertheless can be counted among the most promising markets for foodservice operators anywhere in the world. Combining high incomes, a young population and uniquely strong demand for dining out options, the Gulf States belong on any operator’s radar. As this new report from Euromonitor International reveals, the region offers potential growth for literally anyone with the right concept.
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The states of the Gulf Cooperation Council (GCC) have become, in aggregate, significant regional economic players, with a combined 2012 GDP of over US$1.5 trillion, more than Australia, Spain or Turkey.
The presence of chained restaurant operators as a percentage of overall sales is already very high, on a par with Japan and surpassing the UK, and far ahead of emerging markets such as Mexico or Brazil.
While cities such as Abu Dhabi or Dubai may lag megacities such as Tokyo or New York City in absolute numbers of high net worth households, in percentage terms they rank very high indeed.
Though differences exist across the region, on the whole the GCC is a region with a significant population of young people and families, with a significant impact on the development of the foodservice industry.
Effective localisation is important in every region, yet it is essential in the GCC, where local norms place clear barriers on what can and cannot be served, above all in conservative Saudi Arabia.
Largest franchise operators in the GCC combine interests in retail, food processing, logistics, real estate, chemicals and other industries. Offers the potential for powerful synergies in terms of sourcing, distribution and expansion.
Foodservice spending growth in constant terms in the GCC is nevertheless expected to remain strong over 2012-2017.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.