A new report by Visa, using data from Visa and the United Arab Emirates Telecommunications Authority, shows that online transactions in the region are growing rapidly – at an annual rate of 30 percent. With over 48 percent of all e-commerce spending crossing borders, the report estimates that for every $100 spent on a card, $10 are spent online.
The travel sector has been a huge beneficiary of this growth,with airline and travel agency bookings in Lebanon, Qatar and Saudi Arabia jumping by more than 50 percent in 2014.
Coming off the heels of various e-commerce investments in the region, as well as proposed legislation in Saudi Arabia working to regulate the e-commerce industry, it is clear to see this trend is catching on. Check out the full infographic below.
