MENA: e-commerce market to grow to over USD 40 bln in the next 3 years

Wednesday 29 January 2014 00:55 CET | News

The e-commerce market in the Middle East is set to grow to more than USD 40 billion in the next three years, while m-commerce in the region is set to reach USD 3 billion in 2015, according to Paypal Insights – ecommerce in the Middle East 2012-2015.

Also, findings indicate that the e-commerce sector in the MENA region has reported the end of 2013 with higher incomes and the forecast for 2014 is also highly optimistic.

Another study reveals that the total B2C e-commerce sales in the MENA region will reach USD 45.4bn in 2017, when compared with USD 14.4bn in 2011, which is a 300 % growth rate in sales. Moreover, according to EConsultancy, 66% of consumers in the MENA region use the internet to search for products and services online. That said, according the Paypal study, the biggest e-commerce markets in the region are Saudi Arabia and the UAE, which lead the region in terms of internet transactions globally.

The region has seen a rapid increase in the number of internet users over the years, which reached 90,000,455 in 2012. Today, mobile transactions in the MENA region account for ten % of e-commerce activity and, with the current growth rate, it will rise by 20 % in the next two to three years.

Based on the rise in the number of internet users and the continuous increase of the population in the MENA region, the e-commerce market has spread to many industries and, today, more start-ups in the region prefer to set up, and offer all their products and services online.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.

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Keywords: MENA, e-commerce, m-commerce, 2015, e-commerce market, 3 years
Categories: Payments & Commerce
Countries: World
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