- January 17, 2021
- Posted by: Waqas Siddiqui
- Category: Others
UAE Ranked 13th in Ease of Launching Online Business
A study conducted by a leading company that reviews and rates financial software ranked UAE 13th among 99 countries for Ease of Starting Business Online. Major criteria considered were mobile internet speed, internet coverage & penetration, wealth of the country, ease of starting a business and corporate taxes. The overall score obtained by UAE was 68.4 out of 100, just below the UK and ahead of Belgium. UAE was ranked the best in the Gulf region with Saudi Arabia (53.67) and Kuwait (51.39) following the list.
UAE Based Startups – 2020
The startup data platform MAGNiTT confirmed that the estimated startups in the MENA (Middle East & North Africa) region was around AED 3.75 billion (USD 1 billion). This was an increase by 13% when compared to the previous year. UAE, Saudi Arabia and Egypt which are considered to be the innovation hotspots in MENA, accounted for more than 68% of the total deal disclosed in the year 2020. UAE was leading the region with 56% of all capital deployed, estimated to be around AED 2 billion (USD 579 million). Approximately 26% of the deals and 129 transactions took place in UAE.
UAE e-Commerce Industry
The Gulf e-Commerce market reached a value of AED 88 billion (USD 24 billion) in the year 2020, which was an increase by AED 7.3 billion (USD 2 billion) when compared to the year 2019. The average annual spend in UAE rose by 30%, with the per capita spend estimated to be around AED 2,200 (USD 600) to AED 4,775 (USD 1,300) on an annual basis.
Similarly, the e-Commerce sector was leading all the other sectors in terms of investments, with total investment estimated to be AED 595 million (USD 162 million). This was followed by F&B (Food & Beverage) sector AED 450 million (USD 122 million) and Healthcare sector AED 264 million (USD 72 million). Moreover, the COVID-19 pandemic rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities for investments in the sector.
Likewise, the governments, investors and private companies were all actively investing in the technology to adapt to the existing trends and improve their services. The trends are expected to continue with new technologies and innovations actively being adopted by both government and private companies across UAE. Contact a Market Research Company in UAE if you would like to know more about the emerging trends in the e-Commerce sector.
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