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UAE E-Commerce Set to Expand
The online retail industry in the United Arab Emirates is one of the slowest online markets in the world. However, new data suggests that UAE e-commerce will expand by 2018, propelling one of the richest nations on Earth into the global e-commerce ring. UAE would be the first $10 billion e-commerce market in the region.
Reasons for the Increase in UAE E-Commerce
As of 2013, the online industry in UAE is valued at just $2 billion. While this may seem like a high amount for a tiny country, it doesn't come close to matching up with the e-commerce capabilities of the United States or China. However, experts predict that UAE e-commerce will take off over the next four years, increasing its value by $8 billion.
The predictions come with assumptions that technological innovations in UAE will increase through 2018. Internet devices such as smartphones and tablets will enter the mainstream in that country, and will connect to aspects of life such as logistics, media, healthcare, and online retail.
How Will This Affect the Global Market?
If UAE e-commerce increases as experts say it will, it will be the one of the only major e-commerce nation in the region. UAE is already a major business center for the Middle East and Asia, with the cities of Dubai and Abu Dhabi growing into major metropolitan areas. E-Commerce giants such as Amazon, eBay, and Chinese companies Alibaba and JD.com will likely increase their presence in the region if the e-commerce market does expand. This bigger market in UAE will also likely allow for more local businesses to sell their products online.
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