CITC: E-Commerce Transactions in Saudi Arabia Valued at About SAR 30 Billion

The Communications and Information Technology Commission estimated e-commerce transactions between consumers and businesses in Saudi Arabia at about SAR 30 billion in 2016, making it one of the largest e-commerce markets in the Middle East and North Africa region. The e-commerce report in the Kingdom of Saudi Arabia, issued by the Commission, stated that the average online spending of the traditional Saudi shopper was SAR 4,000, and that 42% of online shoppers over the past year made purchases through social media websites and apps. Services accounted for two-thirds of total e-commerce spending in the Kingdom, with travel-related services capturing the largest share of the services category.

The report noted that the Saudi e-commerce market is undergoing significant growth, and linked the development of the Saudi e-commerce sector to the implementation of a number of initiatives and strategies that will contribute to economic diversification and support GDP, create job opportunities, attract investments, as well as support entrepreneurship and innovation, in addition to strengthening local industry. The report affirmed that achieving maximum benefit from the emerging e-commerce ecosystem in Saudi Arabia is linked to supporting consumer awareness and trust in e-commerce, the logistics and payments ecosystem, and telecom infrastructure.

It is noted that the Communications and Information Technology Commission will hold its annual forum 2017 titled "E-Commerce in the Kingdom of Saudi Arabia" tomorrow at the Commission's main headquarters in Al-Nakheel district in Riyadh at nine in the morning, with the participation of the Ministry of Commerce and Investment, the Saudi Arabian Monetary Agency, the Saudi Post Corporation, the General Authority for Small and Medium Enterprises, e-commerce experts, investors in this field, logistics and payment service providers, and a number of those interested in telecom and information technology services. The forum aims to provide a comprehensive overview of the local, regional, and global e-commerce landscape through discussion sessions with specialists, raising awareness of its benefits in the Kingdom, and reviewing its economic and social impact.