Saudi Arabiaâ€™s efforts to diversify its economy are paying off as the countryâ€™s franchising industry, estimated to be worth SR3.75 billion, is expected to grow at an annual rate of 12 percent.
The robust growth forecast underlines the increasing economic contributions of the franchising industry in Saudi Arabia and its strong potential to become the most popular non-oil business sector in the region, said Diya Abdo, Project Manager, Saudi International Franchise Exhibition and Conference (IFEC 2010), Riyadh Exhibition Company (REC).
The IFEC 2010, the third international exhibition and conference for the franchise industry in Saudi Arabia, sought to complement the surge in franchising activity by providing a platform for international franchisers, entrepreneurs, agents, business owners and investors from the Middle East and other regions to discuss the most promising franchising opportunities and to address important issues.
IFEC 2010 will be held at the Riyadh International Convention and Exhibition Center from Oct. 26 to 28.
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