Dubai – Mubasher: The UAE’s e-commerce retail sector is likely to see a compound annual growth rate (CAGR) of 24% to reach AED 14.1 billion by 2021, Al Etihad newspaper reported citing the chairman of Dubai Chamber of Commerce as saying.
Growth in the coming period will be backed by well-known e-commerce entities, said Abdul Rahman Saif Al Ghurair.
An older report released by the chamber expected the retail e-commerce business in the UAE to reach AED 200 billion in 2017 with an average growth of 5% annually.
It also expected consumer spending in the UAE to exceed AED 750 billion in the same year.
In March, the UAE’s e-commerce segment witnessed Amazon.com Inc.’s acquisition of Dubai-based Souq.com, the largest e-commerce platform in the Middle East.
