January 23, 2012

Ecommerce grows in the Middle East

 

The Middle East isn’t known for having a large presence in online retail, but that may soon change. Currently customers in the Middle East spend about $1.1 billion online. By 2016, it will double to $2.2 billion, according to research by Euromonitor.

That means it is growing at one of the fastest rates in the world.

Two areas in the region that are experiencing the strongest growth are the UAE and Saudi Arabia. This is due in part to the locals in these areas becoming more comfortable with using credit cards online. However, internet shopping is on the rise in other parts of the region as well. In the last two years, sales in Egypt have increased more than 150% and in Iran internet retail sales have grown 80%.

To read the full story from the BBC, click here.

 

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