Although COVID-19 sent shockwaves through brick-and-mortar retail businesses and decimated the travel industry, the world’s digital economy actually reaped enormous benefits from lockdowns and reduced movement.
According to newly released data, the digital economies of the Middle East and North Africa (MENA) countries are now estimated to be worth an incredible $400 billion by 2030.
To reach the enormous milestone in under ten years, the entire region’s economy will need to undergo rapid transformation. Sectors including food, travel and bill payment have declined in recent years. However, health and education technology appear to be booming — though predictably, online retail is driving much of the growth, increasing at a rate of 20% per year alone.
According to the report, Generation Z will fuel a great deal of the decade’s growth, and the expansion of EdTech services will require significant skill development, with schools and higher education institutions adding new technology-focused courses to their curriculums.
Saudi Arabia and the United Arab Emirates have already significantly contributed to the region’s global digital expansion. Future growth is anticipated to be more evenly spread among the MENA countries, as the two leading nations currently account for half of the area’s total digital economy.
According to the new survey, the rest of the MENA region is improving in its rate of digital adoption, with the time spent on digital channels now nearing 8 hours per day, which is a figure similar to the United Arab Emirates and Saudi Arabia.
Are You Ready For This Year’s GITEX Shopper Event?
We’re excited to be media partners of this year’s GITEX Shopper event, an extravaganza bringing together all the big names and retailers in electronics.
GITEX Shopper, the giant 5-day electronics extravaganza, is getting ready to open its doors to the public between December 14 and 18 at the Dubai World Trade Center.
The expo brings together all of the top electronic brands and retailers and features huge discounts on all the best tech, plus prize draws, new product launches, interactive displays and much more.
Visitors to GITEX Shopper will be able to grab all of the latest products at the best prices, from gaming consoles and speakers to drones, TV sets, and even e-scooters. This 5-day shopping extravaganza offers exclusive discounts on selected items that can’t be found elsewhere, and there are plenty of shows and demonstrations at the expo to keep the whole family entertained.
To join over 100,000 people at this year’s GITEX Shopper and grab some of 2022’s biggest bargains, head over to the official website to register your interest.