Saudi brands to expand globally by 2026
The article discusses the efforts of the franchising sector in Saudi Arabia to achieve global expansion by 2026, with a focus on enabling at least five Saudi brands to enter international markets, particularly in Russia and Central Asia. The sector is experiencing significant growth, with the number of brands increasing from 692 in 2020 to 1,514 by the end of 2026. Local brands now make up 49.1% of the market, which is valued at 60 billion Riyals, with an annual growth rate of 27% and over 15,000 outlets. The sector is strengthening its presence across various industries, including food, beverages, retail, tourism, and entertainment. Additionally, Saudi Arabia's participation in international exhibitions, such as Franex in Egypt and KAZANFORUM in Russia, has enhanced opportunities for expansion and international cooperation. The focus remains on exporting Saudi identity globally through scalable and widely distributable brands, especially in the restaurant sector and heritage products like dates and coffee.
Notice: This Is an AI-Generated Summary
Comments (0)