UAE ecommerce to reach USD 10 billion by 2018

Monday 10 March 2014 09:10 CET | News

Ecommerce is expected to be valued at USD 10 billion (AED 36.7 billion) by 2018, according to Sarwant Singh, Senior partner and head of visionary innovation group at Frost& Sullivan, a provider of growth partnership services and growth consulting.

Sarwant Singh, during an interview with Gulf News, stated that the present total value of ecommerce in the UAE is estimated at USD 2.5 billion (AED 9.2 billion), but it is expected to evolve and, hence, create businesses and job opportunities.

Moreover, he said that there are a number of impediments for the ecommerce business, like the existence of big shopping malls in the UAE, as well as connectivity just starting to happen. These two factors have slowed down the performance of the ecommerce business.

The ecommerce transactions in the UAE need specific laws and regulations, given the volumes being shipped into this country from online vendors abroad. As stated by online media outlet Gulf News, the issue has already been raised with the Dubai Department of Economic Development.

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Keywords: UAE, Frost&Sullivan, ecommerce, impediments, transactions , regulations
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce