MENA’s is riding the digital revolution. The digitally evolved population of Gen Z, Millennials, and Gen X is a fertile ground for digital solutions. Riding in the wake of the pandemic, its digital economy has experienced a manifold growth. It is estimated that 100 million plus consumers will shift to online services in next 5-6 years and power approx 14% economic growth. E-tail and travel will be the most prominent sectors contributing to 60% of the digital economy.
MENA is a $ 2.8Tn economy with a young population (median age 26) that is digitally mature. The region’s rapid growth spurt with a CAGR of 18% is set to take its digital economy 3X by 2027.
A robust enabling logistics coupled with strong regulatory backing will propel sectors such as E-tail, travel, EdTech, Fintech, and HealthTech. The expected growth is comparable with economies such as the USA, China, and India. The report gives a broad perspective on how MENA will emerge as a competitive digital economy by the end of the decade.