Facts and Figures
THE HOSPITALITY EQUIPMENT & FOOD SERVICE OPPORTUNITY
With Expo 2020 delivering 20 million visitors, the UAE’s hospitality industry is expected to catapult the Emirates to the ranks of the world’s most sought-after destinations
GCC countries’ foodservice market is predicted to have a CAGR of 6.8 per cent to reach US$24.5 billion (Dh89.9 billion) in 2018, up from US$18.8 billion in 2014*
The region’s hospitality foodservice and catering industry is continually innovating and investing in all aspects of the preparation and serving of food – US$103bn contracts awarded in 2015 across the GCC alone*
In the Middle East, there are 500 hotels under construction totaling 153,000 rooms and in Africa, 300 hotels with over 59,000 rooms
The UAE has the highest number of ongoing projects in MEA with 170 hotels comprising 63,970 rooms
The UAE alone has over 6,000 F&B outlets with another 19,000 expected to open by 2019.
Predicted for the end of 2016
The hospitality industry is predicted to reach $550 billion dollars globally by the end of 2016, an increase of almost $100 billion dollars in the past 5 years*
an increase of almost
in the past 5 years*
Within the GCC, food, hospitality and HORECA is driving the diversification of the economy, with these markets expecting to register double digit growth over the next decade - reaching
*STR's September 2016 Pipeline Report has revealed that there are 153,000 rooms in 500 projects under contract in the Middle East and 59,000 rooms in
300 projects under contract in Africa.