- UAE e-commerce market is estimated to grow from $7 Billion to $67 billion
- Dubai is Singapore’s largest Middle East trading partner, with trade reaching S$ 18.3 (about USD 13.5) billion in 2015
- Dubai is the international hub for startup
- Serves as Hub for Southeast Asian Digital Companies Expanding to Emerging Markets
A recent report by consultancy AT Kearney says with a significant increase in purchasing power, Internet penetration, and online offerings, Dubai e-commerce market is estimated to grow from $7 Billion recorded in 2013 to over $67 billion by 2017
United Arab Emirate Capital, Dubai has recorded a massive technology transformation in recent years and is increasingly becoming the hub for Southeast Asian innovators expanding to emerging markets in the Middle East and Africa, experts at the just concluded GITEX Technology Week agreed.
According to a recent ranking by the Compass Startup Ecosystem, the market growth presents a high opportunity for digital marketing firms and startups to expand their innovations from Southeast Asia and localize them to emerging markets. Many of these companies are based in Singapore, a major business hub and the top Southeast Asian city for startup support.
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“Singapore’s digital-first companies and startups need to expand quickly, and emerging markets such as the Middle East, Africa, and Asia present the biggest growth opportunities,” says Aseem Puri, Marketing Head at Unilever International, Singapore.
“Now, Southeast Asia’s multinationals and startups are turning to Dubai for expansion. For example, the UAE is Singapore’s largest Middle East trading partner, with trade reaching S$ 18.3 (about USD 13.5) billion in 2015, according to International Enterprise Singapore.
“Digital marketing innovations that work in Singapore hold high potential in Dubai and the Arabian Gulf, with similar fast-growth markets, digitally-savvy English-speaking affluent customers, and a supportive startup ecosystem,” Aseem said.
