When it comes to the Middle East, almost everyone’s first impression is of vast deserts, huge amounts of oil, and camels walking in the scorching sun and windy sand… In fact, this is not the case. In recent years, with the rapid development of cross-border e-commerce, this has been a problem in the past. The Middle East, which is full of “conflicts and changes. Is undergoing tremendous changes, especially its impressive economic performance, which is being regarded as a “potential stock” by more and more Chinese cross-border merchants with keen business sense.
This article will interpret this blue ocean market from three major aspects
The Middle East is famous for being rich in oil. It is located in “three continents and five seas”. Based on its unique geographical location and convenient transportation. Its oil export business is booming and Chinese Overseas Australia Number Data has given birth to astonishing wealth. Here, there are a total of 23 countries and regions, with a total population of 490 million, GDP ranking among the top in the world, and an extremely young population structure, with an average age of only 25 years old, and an Internet penetration rate of over 60%… Not only that, the future of the Middle East The development potential is huge. According to statistics, the average e-commerce volume growth rate in the region is as high as 42.8%, far exceeding the United States, Europe, Japan, and China.
Entering the Middle East interpretation of key e-commerce markets
What is the current situation of various e-commerce markets in the Middle East? The following is an analysis of five more representative countries: Saudi Arabia, the United Marketing List Arab Emirates, Qatar, Israel and Turkey. The country’s Internet coverage is very high. As of the first half of 2022, Saudi Arabia has approximately 35 million Internet users, and the Internet penetration rate has reached 98%. In recent years, Saudi e-commerce has surged rapidly. From 2019 to 2020, the compound annual growth rate was close to 60%. It is expected that its market size will reach US$20.44 billion by 2025.