Gulf Countries See Spike In E-Commerce Activity And Innovation

Gulf Countries See Spike In E-Commerce Activity And Innovation

Share to Linkedin With the world slowly emerging from the COVID-19 crisis, one of the most promising signs for economic recovery is emerging from the Middle East, and specifically, from the Gulf region. A recently published study by the Dubai based CommerCity, found that the Middle East, Africa and South Asia (Measa) e-commerce industry is growing by leaps and bounds, and is being propelled by several Gulf nations. Another report released in May by Go-Gulf, a web development company based in the United Arab Emirates that also advises other businesses on the subject, echoed CommerCity's findings. According to Go-Gulf, e-commerce profits went up fourfold over 2020, reaching $20 billion in the Gulf Cooperative Council (GCC) countries alone. This figure was up from $5 billion in 2015. Go-Gulf projects the e-commerce market for the entire Middle East North Africa region is expected to generate $48. 6 billion in sales by the year 2022. According to the data, e-commerce experienced a significant leap during the COVID pandemic with the Gulf region witnessing a 214 per cent year-on-year increase in cross-border online sales by mid-year 2020. According to local experts this spike in the sector's growth goes beyond similar global trends witnessed over