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The fastest growing city in the world at the moment is Dubai. Approximately 25% of all of the high rise cranes on Earth are in one city; Dubai. The Restaurant Industry in Dubai is growing at an equally impressive rate.
The Restaurant Industry in Dubai
What’s happening in Dubai is as significant as any architectural project in human history. The growth there and modern architectural wonders rival the rise of the Egyptian pyramids in the ancient world.
The story of growth in Dubai has barely made its way to the western world. It’s therefore not surprising that most in the west don’t realize that springing out of the desert in Dubai is more than just modern marvels of civil planning, architecture and construction. What’s also springing out of the desert is tremendous growth opportunity for the global foodservice industry. Further still away from the boardroom conversations at U.S. restaurant chains is the discussion of what’s beyond Dubai. Dubai is just the tip of the sword. The fastest growing hospitality market in the world is the Middle East. It is expected to grow by more than 500% in less than a decade. Know of any market in the west posting those kind of numbers?
Nothing could prepare me for visiting Dubai for the first time. It is like someone took every condominium in Miami, every skyscraper in Chicago, and then sprinkled in the dazzling excess of Las Vegas, and built it all in less than 10 years. Often this comment is met with some disbelief as if I am exaggerating what’s there and happening, but after 8+ visits there, I can confidently say it is a greatly misunderstood and under-estimated market for restaurant industry growth. I am speaking not just about Dubai or the UAE, but the entire Middle East.
Western restaurant consultants, restaurant franchises, and restaurant industry suppliers are in great demand, as you might suspect. It makes total sense that the world’s largest and most sophisticated restaurant industry (the USA’s) would be tapped to help build the world’s fastest growing restaurant industry. Restaurant growth occurs where there is population growth. Profitable restaurant growth couples growth in population with growth in economic prosperity. Both are found in the Middle East. The Middle East is MUCH more than the one city of Dubai. Stay tuned for more on this topic. If you are in the restaurant industry and looking for growth, the Middle East restaurant industry should be at the center of your radar.