SAN JOSE, Calif.--(EON: Enhanced Online News)--CDNetworks has extended its global network to both Kuwait and Cairo, Egypt for greater coverage in fast growing Middle East and North Africa (MENA) markets, joining points of presence in Israel, Iraq, Qatar, United Arab Emirates, Saudi Arabia, and Oman.
“The Middle East is fast growing and more established than Northern Africa where internet penetration is still under 50% of the population, but internet penetration in Egypt for instance grew by 137% from 2009-2012”
“With the growth in online shopping in the Middle East, competition is increasing,” said Jeff Kim, President and COO, CDNetworks Americas and EMEA. “CDNetworks customers have the advantage of faster website downloads and ecommerce transactions, keeping shoppers on their site instead of the competition's.”
A September 2013 PayPal report (PayPal Insights, e-commerce in the Middle East) estimates that “30 million people are now shopping online in the Middle East, up 65% from 2011, and that the ecommerce market is set to grow from $11.2 billion today to $15 billion by 2015.” According to a 2011 study by Visa, online retail in the Middle East is booming because of high disposable income and mass credit card penetration.
“The Middle East is fast growing and more established than Northern Africa where internet penetration is still under 50% of the population, but internet penetration in Egypt for instance grew by 137% from 2009-2012,” said Jeff Kim. “In the Middle East, United Arab Emirates has the highest percentage of internet users who shop online, then Saudi Arabia, Qatar, and Kuwait. We are excited to now have points of presence in the top four.”
The PayPal report goes on to say, “Along with the dramatic growth in spending and the online commerce population, cross-border ecommerce is booming in the MENA region, with more than 70% YoY growth. The growth is driven by the limited choice currently available in the MENA region.”
When asked in a recent Daily News Egypt interview if there is a difference in Egypt from the rest of MENA, PayPal MENA CEO Elias Ghanem said, “No, nothing specific, but what is very exciting is that Egyptians are very eager to shop online, and we love that. But the behavior is quite similar in all places where it is roughly 50:50 between physical goods and digital goods. By physical goods I mean fashion and electronics; by digital, there are [several] categories: gaming, ringtones, downloadable books and news, Facebook credit, and Skype credit. But across all verticals, I’m seeing an extremely good business building up.”
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