The Middle East: The Land of Restaurant Opportunity

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With the discovery of oil in the Gulf Coast and surrounding areas, the Middle East has become a prosperous region. It boasts some of the highest concentrations of millionaires in the world. There is plenty of wealth to go around, and with that wealth, a penchant to indulge in luxurious hotels and restaurants.

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The Middle East: The Land of Restaurant Opportunity

  1. 1. THE LAND OF   RESTAURANT OPPORTUNITY   MIDDLE EAST:  THE  
  2. 2. The MIDDLE EAST: The Land of Restaurant Opportunity TABLE OF CONTENTS Middle East Overview 3 Bahrain 5 Egypt 7 Israel 9 Jordan 11 Kuwait 13 Lebanon 15 Oman 17 Qatar 19 Saudi Arabia 21 United Arab Emirates 23 About the Author 25 About AARON ALLEN & associates 26 2
  3. 3. The MIDDLE EAST: The Land of Restaurant Opportunity With the discovery of oil in the Gulf Coast and surrounding areas, the Middle East has become a prosperous region. It boasts some of the highest concentrations of millionaires in the world.There is plenty of wealth to go around, and with that wealth, a penchant to indulge in luxurious hotels and restaurants. 3 MIDDLE EAST OVERVIEW •  BAHRAIN •  EGYPT •  ISRAEL •  JORDAN •  KUWAIT •  LEBANON •  OMAN •  QATAR •  SAUDI ARABIA •  UNITED ARAB EMIRATES  
  4. 4. The MIDDLE EAST: The Land of Restaurant Opportunity RELIGION’S IMPACT ON BUSINESS The predominant religion of the Middle East is Islam. Restaurateurs interested in expanding into this region should note that many countries there adhere to Shari’a law – the law of Islam, which forbids men and women from interacting except in familial circumstances. Unmarried men and women cannot dine together, and women cannot work side-by-side with a man. Such laws and cultural norms make many restaurant and employment policies a challenge for restaurateurs with little experience in the region. Islam also demands a Halal diet, which restricts alcohol and meat consumption. Bacon and pork products are banned.There are stipulations regarding how an animal should be killed to be deemed suitable for consumption as well. KEY FACTS & FIGURES •  Due to the restrictions in Shari’a Law, Middle Easterners dine out as a primary source of entertainment – data shows they dine out three to four times a week in some countries. •  Western brands have seen abundant success in the Middle East, even when they are still relatively unknown in their own countries – like Miami Subs. •  Cafés are popular among youths in the Middle East. Hot drinks are slated to grow124.9 percent from 2009 to 2014 in Saudi Arabia alone. MIDDLE EAST OVERVIEW 4 •  BAHRAIN •  EGYPT •  ISRAEL •  JORDAN •  KUWAIT •  LEBANON •  OMAN •  QATAR •  SAUDI ARABIA •  UNITED ARAB EMIRATES  
  5. 5. The MIDDLE EAST: The Land of Restaurant Opportunity BAHRAIN MARKET OVERVIEW GDP: $28.1 BILLION POPULATION: 1.2 MILLION GROWTH in 2012: 4.2 PERCENT MARKET SIZE (Number of Restaurants): NOT REPORTED RESTAURANTS PER 10,000 RESIDENTS: NOT REPORTED EASE OF DOING BUSINESS RANK*: 42 BIGGEST PLAYERS From 2005 to 2010, Bahrain saw a 75 percent increase in the chained consumer foodservice segment. Well-known brands were met with success, as was the case with restaurants like The Meat Co and Ken Lo’s Memories of China. Jumeirah’s Urbano is slated to open in 2014. The Four Seasons Hotel Bahrain Bay (271 rooms, 2014), Ibis Manama Seef (304 rooms, 2014), and Staybridge Suites Bahrain Al Seef (130 rooms, 2014) are set to join the Bahrain hospitality market where The Holiday Inn, Swiss-Belhotel, Kempinski, and Wyndham now sit. Mövenpick received the TripAdvisor Award for Excellence in 2013, recognizing outstanding hospitality practices. KEY FACTS & FIGURES •  Bahrain has the best free market economy in the Middle East. •  The GDP is expected to grow 6.2 percent in 2013. •  Bahrain’s foodservice industry was valued at $267.7 million in 2010. 5 •  BAHRAIN •  EGYPT •  ISRAEL •  JORDAN •  KUWAIT •  LEBANON •  OMAN •  QATAR •  SAUDI ARABIA •  UNITED ARAB EMIRATES   *On a scale of 1 to 185, 1 as the easiest
  6. 6. The MIDDLE EAST: The Land of Restaurant Opportunity EGYPT MARKET OVERVIEW GDP: $264.7 BILLION POPULATION: 84.2 MILLION GROWTH in 2012: 2 PERCENT MARKET SIZE (Number of Restaurants): 50,603 RESTAURANTS PER 10,000 RESIDENTS: 6.0 EASE OF DOING BUSINESS RANK*: 109 (subnational)

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