UAE has the world’s highest e-commerce growth rate – up to 23%

According to Al bayan on May 13, Fitch Solutions, an American economic research company, said that the UAE is the most attractive market for e-commerce in the Middle East and north Africa, due to the high per capita consumption rate of shopping through e-commerce platforms in the UAE.

The development of e-commerce in the UAE is far less than in developed regions such as Europe and the United States or emerging countries such as Russia and Brazil, But as the UAE retail industry has achieved a steady shift from brick-and-mortar stores to online shopping, e-commerce has become increasingly popular among UAE consumers. Consumers in the UAE are increasingly favored for online shopping, so e-commerce has become the fastest-growing industry in the UAE.

UAE has even higher per capita gross domestic product (GDP) than Switzerland, and many UAE residents, 36% of whom are 20-34 years old, have high disposable income.

People in the UAE are keen to surf the internet and play mobile phones, with internet penetration and mobile phone holdings reaching more than 70% per cent, ranking first in the Middle East. 

More than 90 percent of users are used to receiving news online or on social media, the second highest percentage after China and India.

The company released a report predicting that e-commerce in the UAE will grow at the highest level in the world, up to 23 percent, between 2018 and 2022.

The country’s e-commerce industry is expected to perform strongly over the next few years as the number of Internet buyers in the UAE continues to rise and confidence in the purchase of various online products increases.

The report also predicts that the size of the UAE’s e-commerce market will grow significantly to $27.1 billion in 2022, compared with $16 billion this year.

The data coincides with previous VISA forecasts that the UAE’s e-commerce market has an estimated value of $27.1 billion.

PAYPAY. ME Our website has previously had similar reports on this news, see: UAE E-commerce-expected to exceed $27.1 billion in 2022