The French public investment bank has partnered with Business France, the national agency in charge of the international development of the French economy, to develop a mission to explore market opportunities, financial associations and operational leadership in the hotel and restaurant services sectors in the UAE.
The mission, which took place at Arabian Travel Market in April 2018, included a series of meetings with local partners, promoters, investors and franchisees to discuss French hospitality innovative offering and how it can be applied to the industry at large.
The UAE’s economic diversification and its hub position in the Middle East made it a favourable country for the mission, a statement said. French businesses in the hotel, restaurant and catering services brought their expertise to the discussion tables with their Emirati counterparts, to strengthen the partnership.
By Expo 2020, the numbers of hotel rooms is set to increase by an estimated 40,000 and despite a competitive market and pre-empted by large operators, the French delegation foresees opportunities for new concept, the statement added.
Bpifrance head of Export Finance Pedro Novo said: "This mission is perfectly in line with the DNA of Bpifrance, identify the leading companies in their sector and facilitate their international acceleration by providing specific funding and support services. The United Arab Emirates (UAE), real hub of the Middle East, Asia and Africa, which has made tourism a priority in terms of investment, constitutes an ideal destination for French hospitality and catering companies, who were able to highlight the French Touch".