International and Domestic Food Franchising in Saudi Arabia - Essay Example

The country is experiencing a tremendous population growth, along with the fact that its oil reserves are finite. These two major dynamics has and is changing the foundations of the country. The realities of globalisation as well as the understanding that its oil reserves will one day be depleted has seen the country's leadership plan changes to the economic structure of the country to meet current and future needs to bring Saudi Arabia in line with the economic make up of a post oil situation, via the development of a diversified economic structure.

The preceding background events, which shall be further elaborated upon herein, represent important facets in this study, along with the underpinnings of the country's surge of industrial projects, and revision of its laws, policies and regulations. The foregoing has been spurred by the broad reasons mentioned, population growth and finite oil reserves, and the application by Saudi Arabia to join the World Trade Organisation, a process that began in 1992. Admission to this body occurred in 2005, with the foregoing admittance requiring massive as well as comprehensive internal reorganisation of the legal, social system, and industry that included the difficult changes in consideration of the country's religion, Islam.