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The presence of a large, high-income expatriate population will drive Qatar's food and beverage (F&B) segment towards a steady growth, Hospitality Qatar said in a statement on Thursday.
Pointing to a recent BMI research, which says Qatar's food sales will witness a compound annual growth rate (CAGR) of 14.4 percent in the next three years, Hospitality Qatar said this positive outlook has encouraged food suppliers, consultants and global investors to explore key opportunities in the country's thriving F&B sector.
The BMI report reveals that Qatar's F&B segment benefits from the presence of a resilient business environment and a wealthy consumer base.
Complementing earlier reports that said Qatar would remain one of the best performing economies in the GCC region, the BMI report says the country's food and non-alcoholic segment is expected to reach QR25 billion by 2020. In addition, the demand for organic food is also expected to experience continuous growth.
The report said,"The country's move to host the FIFA World Cup in 2022 will not only promote Qatar as a highly-preferred tourist destination but also drive an increased demand for food and drinks when the games take place."
Hospitality Qatar 2017, the country's premier International Hospitality and Hotel/Restaurant/Caf` (HORECA) trade show, is set to showcase this projected growth while also throwing the spotlight on Qatar's booming F&B segment.
The event, which has been dubbed as the F&B industry's ultimate meeting point, will be held from November 7 to November 9, 2017 at the Doha Exhibition and Convention Centre (DECC).
Karim Raffoul, Project Manager, Hospitality Qatar 2017, said,"We are confident that Qatar's F&B segment will continue to experience significant growth, backed by key drivers including precense of a a high-income expat with high purchasing power.
"These drivers and more will be our chief focus at this year's edition as we highlight the importance of this segment in the country's economy."
He said this year's participants and visitors will find the event highly beneficial and advantageous as it continues to live up to its role as a strategic platform for hospitality investors, hoteliers, restaurateurs, cafes operators and suppliers.