UAE, Saudi ecommerce markets will keep growing at 40%, says Dubai CommerCity
Middle East, Africa and South Asia B2C online sales will be faster than global average
Dubai: Online buying and selling in the UAE and Saudi Arabia will hit growth rates of 40 per cent plus, helping drive overall ecommerce volumes in the Middle East, Africa and South Asia to $148.5 billion by end next year.
In fact, the Gulf markets as a whole will have the fastest growth within this territory, while in terms of size, it will be South Asia at the top, according to a new report Dubai CommerCity.
The MEASA territory’s e-commerce market is growing annually at 18.4 per cent, higher than the 16.6 per cent globally over the 2019-22 period.
The Dubai CommerCity, which is a free zone located next to Dubai International Airport, covers 2.1 million square feet and will entail an investment of around Dh3.2 billion. It provides business setup solutions, as well as e-commerce strategy consulting, guidance on e-commerce regulations, and end-to-end logistics solutions.
African markets represent at least 19 per cent of sales within the MEASA universe. Nigeria is the second largest e-commerce market in the region at $7.7 billion sales, with South Africa and Morocco also making it to the Top 10.
Online marketplaces represent the highest number of companies on the list, with 32, followed by those in electronics and fashion with 19 each. Next on the list is food delivery with 10 companies. Other categories with less than five companies include bookstore, home and furniture shop, sports and clothing, and others.
Some of the leading companies from the UAE include Sharaf DG, noon, Namshi and Centrepoint, part of the Landmark Group.