Middle East: ecommerce market to reach USD 15 billion in 2015

Monday 20 October 2014 14:28 CET | News

The ecommerce market in the Middle East is expected to hit USD 15 billion by the end of 2015, Mona Atava, the owner of the children clothing company Mumzworld stated, reports.

Moreover, she claimed that the online retail is forecasted to reach USD 9 billion by the end of 2014, with 15% of brick-and-mortar retailers in the Gulf Cooperation Countries (GCC).

She delivered the forecasts at the Entrepreneurs Organization (EO)’s recent meeting in the UAE. EO is a global network of more than 10,000 business owners with 65 members in their UAE chapter.

Among emerging economies, the UAEs ecommerce presence continues to expand every year, with internet users accounting for 85% of the population. Retail, travel and gaming are the regions top ecommerce segments. With the increased penetration of smartphone usage, the Middle East is fast evolving as a significant ecommerce global destination.

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Keywords: Middle East, GCC, USD, ecommerce, market, customer, increase, growth, forecast, Mona Atava, UAE, Entrepreneurs organisation
Categories: Payments & Commerce
Countries: World
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