Middle East tech story commenced late than Silicon Valley, China, India, and Brazil, but as founder of a first-of-its-kind managed marketplace based in the region, it will certainly take the region far less time to reach maturity. And among the main reasons behind this is that it has reached a tipping point in its growth trajectory. That’s possible thanks to a mix of organic developments and strategic planning.
You might be wondering about why you should invest in the Middle East. Well, the region has a lot of potential and is at a sweet junction of development in many aspects. The demographics are young with an increased digital adoption. Not to mention the fact that the income levels are moderate in some regions and very high in countries like Qatar, UAE, Bahrain, Kuwait, etc.
It doesn’t end at that since the smartphone penetration gives you a reason to invest in the Middle East. In 2021, the mobile internet user count reached over 300 million, and it is predicted to reach 50% of the population by the end of the year. Furthermore, mobile services and technologies generated 5.4% of the region’s GDP. That explains why Small and Medium-sized enterprises with digital solutions are among the fastest-growing segments in the region.
There is also a spike in tech demand and need gaps in offline offerings. The tech-savvy and youthful populations in the Middle East boast high spending power and are more than ready to use technology for all aspects of their lives. No wonder there is high demand for digital products and services in many industries.
Keep in mind offline shopping tends to inconvenient due to climatic factors. The region is known for its scorching heat and sandstorms in several places. For this reason, online e-commerce os not only a convenience but also a necessity in such regions.
There is more to investing in the Middle East than merely what is included in this simple guide. Be sure to do your homework before you can finally make this investment decision.
