Dubai: Saudi Arabia’s e-commerce revenue is expected to grow annually at 13.5 per cent through 2027, exceeding the global average of 11 per cent, a recent industry report revealed.
In its report, Agility Logistics, global supply chain services company, stated that $10 billion was generated through Saudi e-commerce in 2023, making the Kingdom the 28th largest online market globally.
The report claimed that in areas such as investments, logistics capacity, and shipping volumes, Saudi Arabia has established itself as the region’s new e-commerce leader.
“Saudi Arabia has simplified licensing for domestic delivery providers and created multiple tiers of licenses. At the same time, fresh investment has poured in to boost warehousing, fulfillment and trucking capacity,” added Agility.
Saudi Arabia is going through a period of transformation and is leading the MENA region with its economic diversification efforts.
A main objective of Vision 2030 is the country’s development objectives; around 80 projects, mainly focusing on logistics development are expected to be established. Most of these projects are financed by the Public Investment Fund of Saudi Arabia.
The transformation of Saudi Arabia has made it an attractive destination for domestic and foreign investors. Space for growth and opportunities is now available helping the Kingdom emerge as a global logistics hub.