Reasons the Middle East is the Fastest-Growing E-Commerce Market

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Reasons the Middle East is the Fastest-Growing
E-Commerce Market
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Introduction
According to the Mordor Intelligence industry
report, The Middle East E-commerce market is
expected to grow at a CAGR above 11.5 in
2022-2027. With a young population and high
levels of internet penetration, particularly in
the Gulf Cooperation Council, the region offers
huge potential. The power of e-commerce has made
the shopping experience flexible, convenient, and
seamless.
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Higher Internet Usage
The number of mobile internet users in the MENA
region is expected to increase, with the GCC
countries having the highest mobile internet
penetration rate. Around 92 percent of the
population in GCC countries were using the
internet.
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Predominant Cashless Economy
According to a McKinsey consumer survey, 58
percent of Middle Eastern consumers expressed a
strong preference for digital payment methods,
while only 10 percent strongly preferred cash. It
is also a means of promoting financial inclusion,
and the rapid growth of the mobile payments
industry presents business opportunities to
capitalize on.
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Higher Purchasing Capacity
Spanning across two continents and with a young,
ever-growing population, consumer behavior in the
Middle East and North Africa region has been
continuously evolving.
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The Industry is Expanding
The Middle East's online consumers are ready to
shop, and their selection is expanding. According
to Straits Research, The Middle East and Africa
B2B eCommerce market size was valued at USD 472
billion in 2021 and is projected to reach USD
2,293 billion by 2030, registering a CAGR of 19
during the forecast period (2022-2030).
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THANKS
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