[ad_1]
The UAE’s e-commerce market is expected to generate $17.2 billion in revenue by 2027, with an annual growth rate of 8.4% over the next four years, according to Tradeling, the Middle East’s leading B2B e-marketplace.
E-commerce sales in the UAE are estimated to grow by an average of 23% annually between 2018 and 2022. The Covid-19 pandemic was the driver of this growth as it accelerated the country’s digital transformation and positioned it as a business leader among e-commerce Gulf Cooperation Council (GCC) countries; $2.6 billion in sales.
Its market grew 53%, with sales of $3.9 billion in its second year and then $4.8 billion in 2021, an 84.6% increase over the previous two years.
internet connection
Almost 100% of the population has an internet connection and mobile phone access, which drives 70% of e-commerce transactions. As a result, the Dubai Chamber of Commerce and Industry predicts that e-commerce sales in the UAE will reach $8 billion by 2025.
The benefits of this strong trajectory extend beyond the borders of the UAE and provide support across the region. Despite signs of a post-pandemic slowdown in global online sales, e-commerce sales in the MENA region rose 21% last year to an eye-popping $25 billion in revenue.
With the UAE becoming the fastest-growing e-commerce market in the world by 2022, with an estimated online population of around 1.5 trillion, all signs point to continued momentum.
customs incentives
Additionally, a change recently announced by Dubai Customs may spur further growth in e-commerce as residents and citizens of the country will pay less when shopping online.
Marius Ciavola, CEO of Tradeling, commented: “While traditional brick-and-mortar stores remain strong, they are gradually being phased out and become a thing of the past. Reflect. Since the UAE began digitizing its economy in 2013, all sectors have made huge strides in leaps and bounds. This is especially evidenced by e-commerce, where more and more people are embracing the benefits of a cashless society due to the proliferation of digital wallets. ideas, and the enormous purchasing power of the UAE’s roughly 10 million population is being realized. Having said that, the industry is poised to continue growing through investments and partnerships to emphasize a simple fact: the future is here.” — trade arab news agency
[ad_2]
Source link
