The next 100 million
A massive 100 mn new users of digital services are set to be added over the next 5-6 years in MENA
1. MENA is digitally ready with a young population that spends significant amount of time online
MENA region boasts of a young population with a median age of 26 which is much lower than other markets globally. This results in a strong demographic dividend which could drive sustained growth over the medium to long term. The population is extremely tech savvy with more than 8 hrs spent daily on digital channels for leisure, making it fertile ground for digitally enabled solutions.
2. Despite this high adoption and usage, 100m new digital service users will be added over the next 6 years…
A massive 100 mn new users of digital services are set to be added over the next 5-6 years in MENA. This does not factor in cross adoption from the users who currently use at least one service and will get introduced to additional services, accounting for which the figures would be even more compelling. On top of this increase in user adoption, the spend of existing users is expected to rise materially with >60% of consumers we surveyed in the region expressing their intention to increase spending on e-commerce by >15% in the next 12 months.
3. …and the digital economy is set to power 15% of economic growth for the region
Continued customer acquisition coupled with cross adoption of digital services and increase in customer spend, enabled by improved supply side product quality and service experience will drive sustained growth for the digital economy over the next 5-6 years. To put things in context, we expect the segment to power 15% of economic growth in the region over the said period.