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Access
to 2 billion consumers in the
Saudi Arabia and surrounding
countries.
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Saudi Arabia
has the largest economy in the Gulf with 70 % of its population
under the age of 30, it has immense spending power and a driving
demand for new products. |
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Saudi
Arabia
has the highest economic power in the Arab world. The GDP of Saudi
Arabia is U.S. $ 173.2 billion, while the GDP of Egypt is U.S. $
95.8 billion, and the GDP of U.A.E. is U.S. $ 66.1 billion.
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High
oil prices transformed economies of the GCC from a Government
deficit of U.S. $ 20 billion in 1998 to a surplus of U.S. $ 70
billion in 2004. |
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Saudi
Arabia
is well known by its famous luxurious shopping malls. |
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Saudi
Arabia's
GDP is expected to grow by 4.3 % in 2007. |
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Saudi
Arabia
is a large consumer market, almost reliant highly on imports.
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Middle
East
is a growing franchise destination with an annual growth of 27%
valued at U.S. $ 14 billion, the fast food accounts for 40%.
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GCC's
annual food imports exceeded U.S. $ 12 billion in 2004. |
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Middle East foodservice market is estimated to be worth more than U. S. $ 31 billion
annually. |
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Middle East is projected to continue to be the world's fastest growing tourism market
reaching an annual growth rate of 6.7 % up to 2010. |
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Saudi
Arabia
has more than 1,070 hotels, with more than 108,000 rooms, and has
more than 3,050 furnished apartment buildings. |
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The
Eastern
Province of the Kingdom has more than 52
hotels, with over 4,500 rooms, and
more than 5,000
flats in over 250 furnished apartment buildings. |
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The
GCC will witness more than 130 new hotels, with over 40,000 rooms,
to open during the period up to 2009. |
