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Article: Middle East franchise market to grow by 25%
- Article from:
- Al Bawaba
- Article date:
- May 14, 2008
CopyrightCopyright 2008 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Middle East franchise market to grow by 25%
The franchise industry in the Middle East is seeing prolific
growth as international and local brands look for greater market
penetration.
Seen as an ideal business model for small to medium enterprises
(SMEs), the Middle East's franchise industry is estimated to be
worth US$30 billion, with an average annual growth rate of 25%.
Fuelling this growth is the mammoth retail explosion currently
being witnessed across the region, as more and more shopping malls
and entertainment centres open up. High-class malls such as Dubai's
Mall of the Emirates have provided the perfect platform for a number
of international and regional brands.
"The Middle East ...