The eCommerce market in the GCC region is anticipated to witness significant growth, with projected revenues reaching a substantial amount of US$36.95 billion in the year 2024. Furthermore, experts predict that this growth trend will continue over the next five years, displaying a compound annual growth rate (CAGR) of 10.95% between 2023 and 2028. As a result, the market volume is expected to expand and reach an impressive US$54.78 billion by 2028. These estimations indicate a prosperous future for the eCommerce industry within the GCC region, with substantial revenue growth and ample opportunities for businesses operating within this sector.
Among the Gulf Cooperation Council (GCC) countries, Saudi Arabia and the United Arab Emirates (UAE) stand out as the leading markets for e-commerce. Notably, Saudi Arabia takes the lead in terms of e-commerce dominance within the GCC. Additionally, other GCC nations are also experiencing robust growth in the e-commerce sector. The UAE, in particular, has gained recognition for its ability to attract top talent within the e-commerce industry, making it an appealing location for establishing back-office operations. Moreover, GCC-based e-commerce companies often prefer outsourcing their operations to India, considering it a preferred destination for such services. This strategic move allows them to leverage the benefits offered by the Indian market for efficient and cost-effective e-commerce support. If you have an online business idea and wish to start an online store then let’s explore a few challenges and how YRC is helping ecommerce companies in Dubai, Saudi Arabia and across the globe.