The UAE has been making significant strides on the global stage. Since inaugurating our first wagamama branch in the UAE in 2004, expansion has been nothing short of remarkable, with our 10th just launched in Mirdif.

The journey stands as a testament to the immense potential the UAE food and beverage industry holds. Projections indicate that the foodservice market in the UAE alone is poised to surge to an impressive US$19.98 billion by 2024, with further estimates forecasting a staggering US$43.98 billion by 2029, reflecting an impressive CAGR of 17.09 percent. This appeal is rooted in a variety of substantial economic and demographic factors that make the region a hotbed for consumer activity.

The new wagamama in Mirdif

UAE Population demographics are attractive

The GDP of UAE recorded a growth of three percent in 2023 and is projected to grow by four percent and five percent in 2024 and 2025, respectively. The average disposable income in the UAE is considerably higher than in many other parts of the world. This financial stability allows residents to spend more freely, creating a lucrative market for luxury and everyday brands alike. Such economic prosperity places the UAE as a prime location for businesses looking to tap into an affluent customer base ready to indulge in new products and services.

Adding to its charm is the UAE’s relatively young population. Younger demographics are known for their openness to try new products, their engagement with trends, and their significant spending power, especially in categories such as fashion, technology, and entertainment/dining. This vibrancy and dynamism of the country’s youthful populace act as a magnet for global brands looking for eager consumers.

The UAE is also home to a vibrant population comprising expatriates from more than 200 nationalities. This rich diversity brings with it a wide array of cultural backgrounds, tastes, and dietary preferences. In a city like Dubai, where over 90 percent of the population falls under the expatriate category, the need for a wide range of F&B offerings becomes paramount.

The country is continuously growing, and tourism is on the rise

The UAE, with its stunning landscapes and rich cultural heritage, has been a perennial favourite for tourists from around the globe. It welcomed a record-breaking 17.15 million tourists in 2023, surpassing the previous record of 16.73 million visitors in 2019 and increasing by over 19 percent from 2022 figures. The year-round influx of tourists adds to the already high demand for goods and services. These visitors not only contribute to the direct retail economy but also help in spreading the brand’s popularity internationally through word-of-mouth and social media, creating a virtuous cycle of awareness and demand.

The surge in demand is further fueled by the country’s continuous growth. Particularly, Dubai stands out as a city that has seen exponential growth in both size and population. This expansion is not showing any signs of slowing down, signaling that the demand for goods and services will only continue to rise. Such momentum presents an unprecedented opportunity for brands to grow and solidify their presence in the market.

Food at Oche

Opportunity to tap into communities

Accompanying this population growth is a shift in consumer habits. Today, there’s a pronounced trend towards convenience and proximity; people are increasingly seeking to fulfill their needs within their immediate neighbourhood or living radius. This preference towards localised shopping and services has opened new avenues for businesses to penetrate the market more deeply. It has encouraged brands to adopt a more community-focused approach, facilitating the creation of a more personalized and accessible shopping experience.

Responding to this trend, we are strategically placing outlets in communities that are not just densely populated but are also in the midst of development, like wagamama in Motor City, Oche in Fountain Views and wagamama in Mirdiff. By situating ourselves in these emerging neighbourhoods, we not only cater to the immediate needs of the community but also embed our brand into the fabric of their daily lives, creating lasting relationships.

Favorable regulations

Moreover, the UAE’s government policies aimed at fostering a business-friendly environment add an extra layer of appeal for global brands. The ease of setting up businesses, coupled with initiatives to promote foreign investment, provides a supportive groundwork for brands seeking to expand in the region. RMAL Hospitality will continue to expand its existing brands across the UAE along with adding new global entities to its portfolio. The UAE has one of the most robust and stable economies in the region.