Saudi Arabia is working to improve its investment climate for e-commerce, aiming to attract more local and international companies to tap into this rapidly growing market, projected to reach $44 billion by 2030.
Enhancing the e-commerce sector is a key goal of the National Transformation Program, supporting Saudi Arabia’s “Vision 2030.”
This move is vital for boosting the national economy, as the Kingdom ranks among the top 10 fastest-growing countries in e-commerce.
The program plays a crucial role in empowering the private sector and improving government efficiency to drive the country's transformation and meet the vision's targets.
Experts emphasize the importance of e-commerce for large companies, both locally and globally, as they increasingly turn to online platforms to expand their businesses.
Saudi Arabia is creating a competitive environment for both local and foreign companies by adopting new technologies, which is energizing the Saudi market.
Dr. Mohammed bin Duleim Al-Qahtani, an economic analyst and academic at King Faisal University, predicts a 13.5% annual growth in Saudi Arabia's e-commerce sector, surpassing the global average of 11.2%.
Speaking to Asharq Al-Awsat, he expected the sector, currently valued at $21 billion, to exceed $30 billion by 2027 and reach around $44 billion by 2030.
Al-Qahtani highlighted Saudi Arabia’s focus on digital infrastructure and e-commerce, leveraging its strategic location.
He stressed the importance of expanding e-commerce and digital banking, suggesting internationalizing branches of major local banks.
Al-Qahtani also emphasized global efforts, led by G20 nations like Saudi Arabia, to address e-commerce challenges and ensure cyber and financial security.
