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FINANCIAL NEWS
GCC’s food sector to grow 3.1% by 2017
03 May 2013
(MENAFN) The demand for food has been growing steadily at 3.1 percent annually as food consumption per capita is expected to reach 983 kg by 2017, reported Gulf Daily News.
The increase in income and the rise in tourism are the main factors driving the food industry’s production and import volumes.
Other than the growth in the region’s population, marketing campaigns and the focus on infrastructure development has led to higher food consumption.
It is worth noting that the number of foreign direct investments will likely boost agricultural development and food processing.
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