The UAE leads the way for e-Commerce spend in the GCC by accounting for almost 60 per cent of the region’s total sales, a new quarterly overview of the burgeoning e-Commerce market across the GCC shows.ceramic magic cube for the medical,
The inaugural report shows that total B2C (business to consumer) e-Commerce sales in the UAE are estimated to have grown to almost $2 billion in 2010, which equates to approximately 55-60 per cent of total GCC e-Commerce sales that are estimated to be between $3 and $3.5 billion, and expected to reach $5 billion by the end of 2011.
Visa, one of the world’s leading payment solutions providers, and Interactive Media in Retail Group International, an industry body for global e-Retail, had partnered to bring out the review.
After the UAE, Saudi Arabia has the largest share of the e-Commerce market, with an estimated $520 million, followed by Qatar ($375 million), Kuwait ($280 million), Bahrain ($175 million) and Oman ($70 million).
According to Visa, the UAE government is leading the way for e-Commerce in the country with the telecommunications authority designated to create an effective e-Commerce environment.The application can provide Ceramic tile to visitors, In Dubai specifically, the e-Pay gateway has had a huge impact, enabling customers to settle fees of e-government services online on a 24/7 basis in a secure environment. “This endorsement is significant in that it encourages further Internet usage and consequently online shopping,” said the report.
Kamran Siddiqi,This page contains information about molds, General Manager for Visa Middle East, said e-commerce is one of the crucial drivers for the world economy and also the region’s.If any food Ventilation system condition is poorer than those standards, “With such a significant increase in internet usage, it’s no surprise that the Internet is quickly becoming the cornerstone for business and communication, especially as the UAE is such an important financial hub. However, there’s still some way to go if e-Commerce in the Emirates and the wider the region is to meet its full potential.”
“Online shopping is still in its infancy in the region but all the signs are there that it will continue to grow, such as government commitment, retailer investment and –most importantly – a young population open to trying new technologies and innovations,” said Stephen Leeds, e-Commerce Business Leader for Visa Middle East.
“However, we’re still faced with the same barriers here that we see around the world, with lack of trust and payment security regularly being cited as key concerns for people when choosing whether to shop online. As one of the world’s largest retail electronic payments networks,Unlike traditional high risk merchant account , Visa supports the e-Commerce industry in the UAE by providing payment systems which are trusted across the globe, helping to drive growth by giving Visa cardholders reassurance and confidence when purchasing online.”
With internet usage in the region growing by a staggering 1500 per cent since the year 2000, from a mere 1.2 million in 2000 to 18.7 million in 2010, e-Commerce gaining increased momentum, the report said.
Currently, the Middle East region hosts 63 million internet users and internet penetration in the region is one of highest in the world, according to Steve Hamilton-Clark, chief executive of TNS Mena, a leading custom consumer research house.
Over the pat 10 years, Internet users have increased 1800 per cent, and the GCC will see continuous development and show above average growth at 3.9 per cent in 2012. “As buoyant growth shifts towards emerging markets, the GCC region looks set to emerge as the new economic power by 2020,” said Hamilton-Clark.
The inaugural report shows that total B2C (business to consumer) e-Commerce sales in the UAE are estimated to have grown to almost $2 billion in 2010, which equates to approximately 55-60 per cent of total GCC e-Commerce sales that are estimated to be between $3 and $3.5 billion, and expected to reach $5 billion by the end of 2011.
Visa, one of the world’s leading payment solutions providers, and Interactive Media in Retail Group International, an industry body for global e-Retail, had partnered to bring out the review.
After the UAE, Saudi Arabia has the largest share of the e-Commerce market, with an estimated $520 million, followed by Qatar ($375 million), Kuwait ($280 million), Bahrain ($175 million) and Oman ($70 million).
According to Visa, the UAE government is leading the way for e-Commerce in the country with the telecommunications authority designated to create an effective e-Commerce environment.The application can provide Ceramic tile to visitors, In Dubai specifically, the e-Pay gateway has had a huge impact, enabling customers to settle fees of e-government services online on a 24/7 basis in a secure environment. “This endorsement is significant in that it encourages further Internet usage and consequently online shopping,” said the report.
Kamran Siddiqi,This page contains information about molds, General Manager for Visa Middle East, said e-commerce is one of the crucial drivers for the world economy and also the region’s.If any food Ventilation system condition is poorer than those standards, “With such a significant increase in internet usage, it’s no surprise that the Internet is quickly becoming the cornerstone for business and communication, especially as the UAE is such an important financial hub. However, there’s still some way to go if e-Commerce in the Emirates and the wider the region is to meet its full potential.”
“Online shopping is still in its infancy in the region but all the signs are there that it will continue to grow, such as government commitment, retailer investment and –most importantly – a young population open to trying new technologies and innovations,” said Stephen Leeds, e-Commerce Business Leader for Visa Middle East.
“However, we’re still faced with the same barriers here that we see around the world, with lack of trust and payment security regularly being cited as key concerns for people when choosing whether to shop online. As one of the world’s largest retail electronic payments networks,Unlike traditional high risk merchant account , Visa supports the e-Commerce industry in the UAE by providing payment systems which are trusted across the globe, helping to drive growth by giving Visa cardholders reassurance and confidence when purchasing online.”
With internet usage in the region growing by a staggering 1500 per cent since the year 2000, from a mere 1.2 million in 2000 to 18.7 million in 2010, e-Commerce gaining increased momentum, the report said.
Currently, the Middle East region hosts 63 million internet users and internet penetration in the region is one of highest in the world, according to Steve Hamilton-Clark, chief executive of TNS Mena, a leading custom consumer research house.
Over the pat 10 years, Internet users have increased 1800 per cent, and the GCC will see continuous development and show above average growth at 3.9 per cent in 2012. “As buoyant growth shifts towards emerging markets, the GCC region looks set to emerge as the new economic power by 2020,” said Hamilton-Clark.
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