E-commerce is booming in the UAE and will pass $11bn in sales this year
The UAE e-commerce market will pass $11bn in sales this year and will reach $25bn by 2029, according to market analysis,
The thriving market will see growth across the region and a UAE free zone is looking to support businesses and retailers in the sector.
Participants at the WORLDEF Dubai 2024 forum, held at Dubai CommerCity, emphasised the importance of e-commerce as a pivotal sector for economic growth in the region.
E-commerce in the UAE
They pointed to the great opportunities that the UAE and GCC countries offer to boost cross-border digital commerce.
Faisal Jassim, Senior Director of Sales at Dubai CommerCity, said, Dubai CommerCity is the region’s first and most prominent free zone dedicated to digital commerce.
He pointed out that the forum witnessed a great turnout and that many participants expressed their desire to connect with investors, markets, companies, suppliers, and all parties in the e-commerce value chain.
He urged anyone interested in e-commerce or looking to start a new venture to visit Dubai CommerCity and attend WorldDev Dubai, where they can interact, network, and embark on their business journey.
Krystel Abi Assi, Founder at Amazon Sellers Society, stated that small business owners make up more than 60 per cent of Amazon sellers in the UAE. They run their businesses either as individuals or as small teams of up to three people.
He said that statistics on Amazon Platform indicate that the value of the e-commerce market in the UAE this year will exceed $11bn.
It is expected to reach $25bn by 2029, with an annual growth rate of 12 per cent.
Sharanya Rao, Category Lead, Cross Border Trade at eBay, said that the company signed a Memorandum of Understanding with Dubai CommerCity in September to enhance cooperation in the field of cross-border e-commerce.
She emphasised that the UAE and the Gulf region in general represent a promising market in this field.
Source: www.arabianbusiness.com