Bahrain Food and Drink Report Q3 2010

3 Feb 2012

Bahrain Food and Drink Report Q3 2010

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Bahrain has moved into second position in BMIs regional Food & Drink Business Environment

Ratingstable for Q309. A decline in crude oil prices coupled tera gold with a marked decline in private wow gold investment hasforced BMI to revise down the

kingdoms GDP forecast to reflect a 0.55% contraction in 2009. AlthoughBahrain does not

provide investors with the premiumisation potential of the UAE or the large markets ofEgypt

or Saudi Arabia (Bahrain has a GDP per capita of US$25,628 and a population of 1.1mn), its

mainattraction is its excellent regulatory environment, which is among the Middle Easts most

liberal. Thekingdoms openness to foreign investment has attracted big name mass grocery

retailers (MGRs) such asCarrefour and Waitrose despite the small size of the market as

discussed in BMIs recently publishedBahrain Food & Drink Report for Q309.

In Q209, UK-based premium-end retailer Waitrose announced its intention to launch its first

supermarketin Bahrain by 2010 at the state-of-the-art US$800mn Villamar development. It will

mark Waitrosessecond foray into the Middle East following its entry into the UAE. The

retailer will target pockets ofextreme wealth across the kingdom.

Waitroses imminent entry adds to an impressive array of retailers that include Carrefour (in

a jointventurewith its Middle East partner Majid Al Futtaim), UAE-based EMKE and France-based

Casino(in partnership with Fu-Com International).

BMI has forecast MGR value sales to grow by 31.8% through to 2013. The expansion will

bespearheaded by the supermarket and hypermarket segments. Declining real estate prices could

speed upthe pace by which the countrys retailers launch stand-alone outlets. Presently, a

number of supermarketsand hypermarkets are located adjacent to wow gold to hasten the pace at which Bahrainsgrocery

retail sector formalises. By 2017, BMI forecasts that the organised MGR sector will account

for57% of total grocery sales (up from an estimated 46% in 2007). Retailers seeking entry are

likely to investsooner rather than later as the kingdoms small population means its MGR

market is likely mature overthe next five to ten years.


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