(MENAFN- The Peninsula) The Peninsula
The presence of a large customer base composed mostly of a high-income expatriate population that has high purchasing power, is expected to drive Qatar's Food and Beverage (F & B) segment towards a continuously steady growth.
According to a report from BMI research, the country's food sales will witness a compound annual growth rate (CAGR) of 14.4 percent in the next three years, said a press release.
The positive outlook has also prompted food suppliers, consultants, and international investors to explore potential opportunities being offered by the thriving F & B segment.
Hospitality Qatar 2017, the country's premier International Hospitality and Hotel/Restaurant/Café (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 at the Doha Exhibition and Convention Center (DECC). The exciting three-day show will be featuring a vibrant exhibition zone, a highly-targeted B2B programme, educational workshops and simultaneous events and activities, allowing visitors and participants to experience a 360-degree coverage of all aspects of the HORECA, F & B and hospitality investment markets. 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 that include a high-income expat presence and equally high purchasing power. These drivers and more will be our chief focus at this year's edition of Hospitality Qatar 2017 as we highlight the importance of this segment in the country's economy.
This year's participants and visitors will surely 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, cafés operators and suppliers.
The BMI report reveals that Qatar's F & B segment benefits from the presence of a resilient business environment, well-developed premiumization channels and a wealthy consumer base. Complementing earlier reports showing that Qatar will remain one of the best performing economies in the GCC region, the country's food and non-alcoholic segment has also been forecasted to reach QR25bn by 2020.
In addition, the demand for organic food is also expected to experience continuous growth. Lastly, 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 in an increased demand for food and drinks when the games take place. This year, Hospitality Qatar is introducing a new addition for the first time called HQ Food Qatar. The platform is particularly designed to serve Qatar's food and catering industry.
Aside from exciting product demonstrations and workshops, Hospitality Qatar will also feature interactive concurrent events; the Salon Culinaire which features more than 18 different categories, the Live Cooking Competition, the Barista Competition, and the Mocktail Competition.
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