UAE's food and drink sector should see 2011 real GDP growth of 3.3%, up from 3.0% as country will benefit from widespread social unrest unfolding in Middle East, North Africa, according to industry outlook

Nevin Barich

Nevin Barich

Dec 14, 2011 – Business Wire

DUBLIN , December 14, 2011 (press release) – Research and Markets(http://www.researchandmarkets.com/research/fd6b4a/united_arab_emirat) has announced the addition of the "United Arab Emirates Food & Drink Report Q1 2012" report to their offering.

BMI's outlook on the UAE's food and drink sector remains very positive in light of recent developments. It recently revised up its forecast for 2011 real GDP growth to 3.3% from the previous 3.0%, which was a result of its view that the country would be among the few to actually benefit from the widespread social unrest unfolding throughout the Middle East and North Africa (MENA) region at this juncture. As one of only a few states that have so far avoided large-scale demonstrations, the UAE has actually seen its risk profile improve since the start of the year. The outlook for Dubai in particular has been given a boost as a result of the 'Arab Spring', as violent unrest on the streets in Bahrain solidifies the former's reputation as a relative safe haven in a volatile region. With investors increasingly on the lookout for such safe havens, BMI is optimistic with its outlook for the UAE's food and drink sector.

Headline Industry Data

* 2011 per capita food consumption growth in local currency = 4.2%; forecast to 2016 = 30.1%
* 2011 mass grocery retail sales = 6.8%; forecast compound annual growth to 2015 = 38.2%

Companies Mentioned:

* Unilever Middle East
* Abu Dhabi National Foodstuff Company (Foodco)
* Al Ain Dairy
* Drink
* Masafi
* Al Ain Mineral Water Company
* EMKE Group (LuLu)
* Carrefour MAF
* Spinneys Dubai

For more information visit http://www.researchandmarkets.com/research/fd6b4a/united_arab_emirat

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

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