Saudi Arabia: Food Service - Hotel Restaurant Institutional
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The institutional food service sector in Saudi Arabia is expected to have a strong growth in the next five years. The new Saudi government strategy Vision 2030 aimed at diversifying the country’s economy away from dependence on oil revenues from current 70 percent to 31 percent in 15 years period. The plan envisages increasing the number of annual foreign Umrah pilgrims from the current 8 million to 15 million by the end of 2020 and to 30 million by 2030. The Saudi government has already planned to significantly increase the number of Hajj pilgrims to Makkah as well as foreign visitors to the country’s historic landmarks in the next few years. The huge increase in the number of foreign pilgrims and tourists is expected to drastically increase demand by hotels, restaurants and institutional services for imported food products in the coming years.
