According to a study by Visa, the Middle East and North Africa represent the fastest growing eCommerce markets in the world. In 2012, the MENA region concluded a year-on-year rise of roughly 45 percent.
Interestingly, the study reveals that Egypt ranked first for online sales in the MENA market as online sales hit $3.2 billion in 2011. The U.A.E. came in second, with $2.8 billion in online sales.
At present, Egypt’s Internet penetration rate is just over 35 percent, and is estimated to increase by 40 percent each year. The study also reports that there is growing opportunity for B2B businesses in eCommerce.
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