Posted on: 06/06/2008 

The Middle East will see exponential growth in the franchise sector; that is the message to come from the fifth edition of the Franchising Middle East trade show. Over 70 companies from 25 countries attended the exhibition, all wanting to take their brands global. With such an excellent visitor turnout, Franchising Middle East looks certain to have catapulted some regional brands onto the world stage. Matthew Shay, President of the International Franchise Association, visited Dubai for the first time for this trade show and said: The Middle East market is very exciting and dynamic. Our expectations for this market are huge and already, following the Franchising Middle East exhibition, the feedback has been very positive. The economy of the UAE is growing, entrepreneurs are evolving, and the service industry is developing. This all points to a wealth of opportunities for franchising. Industry experts predict $1bn in annual growth as the Franchising Middle East show closes.

International Franchise Association (IFA) represents over 1,400 franchise companies worldwide and is involved in policies and public relations concerning the franchise sector. According to Mr Shay, the United Arab Emirates' franchise business is worth over AED1.1 billion and that figure looks set to grow in the near future. He explained: 'More international companies are showing keen interest in Dubai and, with the US economy being stagnated, the local market is grabbing the opportunities.' Exhibitors at this week's show were also confident of seeing new business opportunities.