Electronic commerce is growing by 40% in Saudi, and rise by 23% in the Arab world

Electronic commerce is growing by 40% in Saudi, and rise by 23% in the Arab world

    

     

    In edition of the magazine "Economy" for the month of Sept.

    


    The economy," the magazine of  Asharqia Chamber has predicted that the Kingdom is witnessing in the next few years a growth in the e-commerce movement according to what the local markets are witnessing of increase the number of sites that support  this type of activity, in light of a strong infrastructure to deal with all the country institutions, the most prominent increase the number of dealers with the Internet, which exceeded more than half the people of Saudi Arabia, as the vision of the Kingdom to develop this type of business activity.

    The magazine pointed in its edition for the month of September to the growth of payment transactions electronically in Arab markets by 23 percent during 2015, due to a growth in the Saudi market that has achieved a 40%, the market of the United Arab Emirates by 24% .. unexpected increase in these operations in the region to reach the 2020 to $ 69 billion, or about three times the current levels almost, according to some international reports.

    The magazine quoted the of the chief executive officer Amri  Soududi saying that the Saudi market in the top of the Arab region markets on the level of commercial sectors, in terms of the number of electronic payments, and the annual growth rate by 58% and this was due to the intense competition among e-commerce companies, and the increasing expertise of Saudi shoppers electronically and preference for online purchases rather than endure the hardships of travel and move from one place to another in search of what they want, as 17% of shoppers will complete the purchase entirely electronically, while 67% use the Internet only to find the products and services they want to purchase.

    For his part, the former director said in the (strategic & Booz & Company) the network (PWC) / Sivak Papazian The Kingdom has succeeded in providing more than 500 government services through electronic sites and mobile phone, which helps in the digital transformation and forming new social and economic models such as participatory economy .. He explained that the next digital phase in the Kingdom (and the Gulf region as well), needs to strengthen its digital business transactions through the organization of digital certificates that allow the investigation of identities in the digital space from institutions and companies reliable, which will increase the opportunities for growth in this vital sector.

    The magazine pointed that the Saudi Payments Network data (Mada) show that 2015 has witnessed the registration of more than 1.1 billion financial transactions, with a total value exceeding 626.3 billion riyals, with monthly operations more than 52 billion riyals, and through more than 17 thousand ATM, etc. more than 225 thousand points of sale device spread across the Kingdom, the past year has seen a steady growth in the number of terminals at the ports of payment by 62% from the year earlier,

    "As a result of this situation of raising attractiveness investment of electronic commerce and payment services, and the emergence of new entities began to provide a package of supportive services that will contribute to the development of the market and rapid the maturity of the major financial industry, as the the Saudi market will witness new investments, by those Electronic sites expand their operations in Saudi Arabia and the Gulf region in the recent period by introducing more products and provoke the purchases of the client programs, which resulted in higher sales in the amount of the electronic market in general. "

    Therefor, the magazine referred to the effort of many Saudi companies and banks to reach the global average to cover financial services, compared with the population, which is the rate at up to 50% on average at the level of countries of the world, since these companies are based in the achievement of this ambition to an improved infrastructure in the field of information technology in the Kingdom where the number of Internet users in the Kingdom currently to 21.6 million users, the end of last year, make up 66% of the population.

    He reviewed the magazine list of the most prominent companies and electronic sites, which starts in the Digital space of the Kingdom and manufactures leading brands locally and regionally in the sector .. pointing that the future will be better for investments emerging in this sector in the light of what the Government of king of the country, of tireless effort to achieve Vision 2030

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