Amwal Al Ghad English - 2016-04-02 08:52:28
Egypt is 12th in the world in investing in e-commerce, and by 2020 its e-commerce market will have almost doubled its 2014 figure to reach $2.7 billion, according to the State of Payments report produced by the payments agency Payfort.
“There is a lot of e-commerce potential in Egypt,” said Nahd Azab, an assistant professor of business at the American University in Cairo, adding that a “wave of entrepreneurship” is sweeping the Internet.
Over 50 per cent of Egypt’s population now has access to the Internet, ranking the country 14th in Internet use globally. Its young people are heavy users of the Web in the Middle East and North Africa region. According to eMarketer, a market research agency, 70 per cent of Egyptians aged 15 to 35 spend more than three hours every day online.
When it comes to Egyptian online shoppers, 50 per cent are aged between 26 and 35. “The percentage of Internet users who have shopped online has increased from 1.4 per cent to 8.7 per cent since the 2011 Revolution,” Azab said.
Young people are not only buying on the Web. They are also profiting by creating innovative online opportunities, something that is more necessary than ever since, according to the US magazine Forbes, Egypt has the fifth-highest unemployment rate in the world. More»