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Jan 23, 2021, 10:40 IST
Qatar Retail Restaurant Industry Outlook to 2025: Ken Research
Industry Overview
60% a young population, 85% ex-pat population (led by Asian countries) and 2.1Mn tourist arrivals in 2019 position Qatar as a vibrant country among its GCC peers. Hence, Demographics skewed towards the young urban population; prefer the convenience of dining out against cooking at home frequently.
The
Restaurant Sector In Qatar was earlier dominated by franchised American concepts is witnessing the development of several home-grown concepts driven by companies such as Food Service Company and more. The sector has flourished due to the presence of a variety of outlets in the country that serve cuisines from all across the world to all customers segments. Qatar Retail Restaurant Industry has decreased at a CAGR of 0.4% on the basis of revenue and a CAGR of 1.9% on the basis of the number of retail outlets over the period 2014-2020. The negative CAGR represents the impact of COVID-19 on the industry in 2020 but the market is expected to revive in the coming 1-2 years owing to FIFA World cup 2022. Major growth drivers of the Industry are largely young and urban population, rising disposable income of people, heavy tourist traffic, Construction of Malls, Purpose Built Entertainment Facilities and ongoing sporting events in the country.