Dubai MSMEs Are Digital and Resilient, Finds DET-Visa Study

Dubai MSMEs Are Digital and Resilient, Finds DET-Visa Study

The Department of Economy and Tourism (DET) in Dubai and the Visa Economic Empowerment Institute (VEEI) conducted a joint study to assess the resilience of small businesses in Dubai during COVID-19. The resulting whitepaper, “ Dubai MSMEs: Digital and resilient ,” looks at the digital journey of micro, small, and medium enterprises ( MSMEs ) in Dubai and draws on Visa data to provide insights into UAE commerce trends. The paper explores the results of a survey of more than 900 Dubai-based MSMEs which found that digital capabilities—in terms of digital payments acceptance, expanding use of social networks, messaging apps, online marketplaces, and cross-border reach— are key to MSMEs’ recovery and resilience. The pandemic also led to a surge in eCommerce as business owners moved quickly to fulfil their customers’ demands. The study surveyed businesses that are actively accepting card not present (CNP) payments as an indication of eCommerce activity. For all businesses in Dubai, this percentage increased from eight per cent in July 2019 to 13 per cent in August 2021, a growth of 60 per cent. For small businesses, the percentage increased from seven per cent to 12 per cent over the same period, a 70 per cent