Riyadh, Saudi Arabia to Host First Franchise Expo and Conference
May 2008 Franchising World
The Riyadh Chamber of Commerce and Industry has created an international venue to promote franchising in Saudi Arabia and the Gulf Cooperation Council region. The International Conference and Expo for Franchises, scheduled June 1 to 3, is the first franchise show in Riyadh and will provide opportunities for international, regional and local brands to pursue promising business strategies in this fast-growing and increasingly affluent part of the world.
The state of the Saudi economy and its demographics make it an inviting market for the franchising industry, according to show officials. The population is nearly 24 million people and the average individual income (US$) is nearly $15,000 capita per year. Saudi Arabia joined the World Trade Organization in 2005. The Saudi Supreme Economic Council supports privatization of important economic sectors that contribute to the private sector of the local economy. Riyadh is the capital, the headquarters for government and embassies, and it has experienced growth for the past few years in construction, infrastructure and services. The city is expanding to accommodate various inhabitants and is linked to other regions through an international airport.
The program, which is managed and organized by Marcom, a direct marketing and event management company and member of the IFA Supplier Forum, includes a conference, workshops and an expo. The conference portion will address the features and challenges of the franchising system, success stories of Saudi companies involved in franchising and marketing Saudi franchises in the region. Two workshops will provide guidance on how to become a franchisor and how to evaluate a franchise deal or contract.
The expo component of the event will include a mixture of international franchise companies and associations, regional exhibitors, local franchisors, banks and franchise consultants, as well as franchise-related companies. About 10,000 visitors are expected to attend the event.