Euromonitor’s new international office will, according to a press release, bring the company closer to clients in the Middle East and North African region (MENA) and expand upon its research presence there. “MENA is playing an increasingly important role in global markets, and it’s essential as a global research company to be on the ground in the region,” said Robert Senior, executive chairman Euromonitor International.
Euromonitor International’s Dubai office will complement the company’s London-based headquarters and existing regional offices in Chicago, Singapore, Shanghai and Vilnius. The new office follows the Euromonitor tradition of moving into emerging regions, most recently into Lithuania. Euromonitor’s Vilnius office opened in 2005 as a result of strong economic growth and consumer potential coming from the Eastern European region.
“Dubai, the Middle East and Africa represent the next important global region and consumer group," said Senior. "High levels of economic and demographic growth since 2003 have made it an increasingly attractive consumer market and according to our research, most countries in Africa and the Middle East can look forward to a continuation of rather strong rates of growth in 2008.”
The Middle East and African population of almost 1.2 billion is much younger than in other parts of the world. There is around one person over 65 years of age for every 20 people of working age and that ratio will not change over the next ten years. “Moving closer to these consumers and our fast-growing client base was an important priority for us,” said Senior. “Euromonitor’s new office will provide our clients with the right research tools to make effective strategic business decisions and also gives us the opportunity to respond faster to the market and our clients in the region.”