UAE e-commerce business set to gain momentum in the post-Covid era

UAE e-commerce business set to gain momentum in the post-Covid era

- High net worth individuals and millionaires flock to the emirate and show interest in Information Technology, online services, and start-ups

- Rising internet penetration, growing incomes, increasing presence of international players, and quick adoption of digital payment solutions drove significant growth in the e-commerce sector

- The UAE e-commerce market is expected to reach $27 billion this year chiefly due to exponential growth in Dubai's small and medium enterprises as the emirate hosts more than 10,000 SMEs

- E-commerce sales in the UAE are estimated to grow by an average of 23 percent per annum between 2018 and 2022

Dubai -- E-commerce in the UAE is set to gain further momentum as more businesses and shops gear up to strengthen their online services in the post-Covid-19 era, experts say.

Hatem El Safty, CEO of Business Link, said the UAE's e-commerce sector is growing at a faster pace and soon it will join global powerhouses like the United States and China as high-net-worth individuals and millionaires flock to the emirate and show interest in Information Technology, online services, and start-ups.

"Based on the recent inquiries we have received; it is evident that the UAE has become a global favourite for entrepreneurs and investors alike. Most inquiries