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MENA market is the last blue ocean and it is worth preoccupying.
* MENA: Middle East North Africa
The world now pays attention to the MENA
Marketability in MENA | New Opportunity
MENA market Status
Cash on delivery
A major obstacle that refrains investor from entering the MENA market is Cash on delivery. As a cultural factor, the national sentiment of mena that prefers cash rather than card or virtual payment is a key consideration for establishing the market in the MENA region.
MENA is considered to be the youngest region in this planet. According to the world median age chart in 2020, while Repulbic of Korea marked 43.2 years old, Kingdom of Saudi Arabia marked 30.8, UAE, a MENA nation with the oldest median age, is only 68th marking 38.4.
A society which Millenials shall lead
E-COMMERCE trend is becoming trendy and generalized in MENA. For sure, MENA’s mass of E-COMMERCE in 2020 reached 20billion USD, which rose from 5billion USD in 2015
Generalization of E-COMMERCE
A market with 500 million potential customers
500 MILLION
MENA Population
Explosive Potential
The population of Greater MENA area(traditional MENA area including Iran and Turkey, Sub-Saharan Islamic nations) is considered to be 578million people(2018). Egyptians are 17% of them, following Algeria and Iraq, Morocco. All of MENA nations’ population is growing.
The population composition of the pyramid structure represents the potential of the MENA region.
The marketability of the MENA region
is demonstrated by the numbers
MENA total fertility rate
Total Fertility Rate, a ratio indicating the growth of the population, of MENA area marks a higher level than world’s average(2.5person).
MENA population growth forecast
According to UN, Total population of MENA is considered to reach 700million in 2050. The population composition of the pyramid structure represents the potential of the MENA region.
Economic Status and Prospect of MENA(%)
According to IMF, it is estimated that MENA’s economic growth rate is expected to be 3.2% in 2021, which has risen stunningly which has risen stunningly compare to 2020’s -5.0%. IMF proposed incremental recovery of local industry, adoption of the vaccine, national economical aid as the reasons for such growth.
MENA E-COMMERCE market growth ($ Billion)
The MENA market is also in the digital era, and the E-COMMERCE scale has been growing rapidly until now . It is analyzed that the novel coronavirus infection (COVID-19) pandemic has acted as a growth factor for E-COMMERCE in the MENA region.
MENA median age statistics
MENA is considered to be the youngest region in this planet. According to the world median age chart in 2020, while Repulbic of Korea marked 43.2 years old, Kingdom of Saudi Arabia marked 30.8, UAE, a MENA nation with the oldest median age, is only 68th marking 38.4.
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