By 2020, the overall ecommerce in the Arab world will reach USD 13.4 billion, compared to USD 7 billion in 2014, according to a report issued by payments processor PayFort, zawya.com reports. Online spending on entertainment and events will increase to USD 10 million in Egypt, compared to the USD 6.25 million registered in 2014.
The largest growth in the relatively small market will be mainly driven by the UAE. The entertainment and events market is expected to reach USD 200 million by 2020, with the UAE accounting for USD 152 million of that figure, whereas the current market is valued at USD 125 million. In 2014, the travel and tourism ecommerce market recorded USD 3.6 billion, with Egypt accounting for USD 0.87 billion. This figure will reach USD 1.3 billion in Egypt, and USD 5.3 billion in the Arab world.
Egypts share in online airline ticket purchases will surge from USD 1.9 billion in 2014 to USD 2.8 billion by 2020 while, in terms of internet usage, 40.7 million Egyptians use the internet, making it the largest internet market in the Arab world, and is followed by Saudi Arabia. The UAE comes in third with its mature internet population and relatively high rate of Internet penetration.
Egypt ranks first in online buyers [15.2 million] in the Arab world. Males dominate online purchasing in Egypt with 77%, while the remaining 23% are females. The age-range of approximately 50% of the online purchases varies between 26 and 35 years old, while 15% are between 18 and 25 years old. About 26% are between 36 and 50 years old.
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