Saturday, Mar 01, 2014
Dubai: E-Commerce will be the UAE’s fastest growing business, according to Sarwant Singh, the head of Frost& Sullivan’s visionary innovation group.
Currently valued at $2.5 billion (Dh9.2 billion), e-commerce is expected to be valued at $10 billion by 2018.
Currently the total value of e-commerce in the UAE is estimated at $2.5 billion, but this is expected to accelerate and create new businesses and job opportunities, Sarwant said.
“It is the fastest growing business in the UAE,” he said. A megatrend as a trend which is global and has transformative change not just to business but to culture and society as well, Sarwant added.
“This transformation will affect the market by creating new business models,” he said, adding that the reason for the increase in in line spending is due to increased connectivity, the rapid proliferation of connected devices and services, and the governments initiatives that encourage a digital lifestyle.
By Zaher Bitar Senior Reporter
Gulf News 2014. All rights reserved.
