3 6 Ke·2025-08-07 05:35Core Insights - Meituan has successfully established its presence in Saudi Arabia within a year of launching its international expansion, and is now accelerating its growth in other Middle Eastern markets [2] Group 1: Meituan's Expansion in Saudi Arabia - Meituan's service in Saudi Arabia has expanded to cover 20 cities, including 11 new cities, and has partnered with nearly 7,500 merchants [3] - The company has deployed over 18,000 additional riders, creating flexible employment opportunities and new economic prospects [3] - Meituan's entry into the Saudi market has led to a market share of approximately 10% for its platform Keeta within five months, ranking it third in the market [3][5] Group 2: Market Dynamics and Competition - The entry of Keeta has stimulated growth in the overall food delivery market in Saudi Arabia, with an expected GMV growth of about 23% in 2024 [3] - Major competitors in the region include Hungerstation and Jahez, which have seen minimal impact on their market shares so far, but are expected to face increased competition as Keeta expands [5][10] - The GCC region, while having a population of under 60 million, boasts high GDP per capita and strong consumer spending power, making it an attractive market for instant delivery services [9] Group 3: Broader Middle Eastern Strategy - Beyond Saudi Arabia, Meituan is planning to enter additional Middle Eastern markets, including the UAE, Qatar, and Kuwait, with a three-year plan to cover all six Gulf Cooperation Council (GCC) countries [7] - Keeta has initiated a "Founding Vendor Program" in the UAE and Qatar, offering incentives for early merchant partnerships [7] - The GCC market presents opportunities for growth due to its digital infrastructure and high acceptance of instant delivery services, despite existing local competition [9][10] Group 4: Global Expansion Efforts - Meituan has also entered the Hong Kong market, achieving a market share of 44% within a year, and is planning to invest $1 billion in Brazil over the next five years [11] - The company is focusing on enhancing its supply chain capabilities through its retail business, Keemart, which has launched in Riyadh [6]