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Fitch: Egypt's Demographics Aid E-Commerce Growth
Fitch predicts that the e-commerce sector in the Middle East and North Africa will experience strong growth, with household spending on electronic goods reaching approximately $63.5 billion by 2026, reflecting an annual increase of 8%. The forecasts indicate that this growth will continue to rise, reaching $82.6 billion by 2030, with an average annual growth rate of 7%. Saudi Arabia is expected to lead the market, followed by Egypt and the United Arab Emirates. The growth depends on increased consumer adoption of digital technologies, a young demographic profile, rising urbanization rates, and the widespread use of smartphones and digital payment methods. Additionally, social media platforms are evolving into direct sales channels. The pandemic has also played a role in accelerating the adoption of online shopping and contactless payments, along with ongoing developments in digital infrastructure and corporate investments in enhancing shopping and commerce experiences via smartphones.
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