Middle East Digital Economy Set To Double By 2018

Published October 20, 2015 by Khaleej Times online (UAE)

Middle East boardrooms are urged to adopt real-time data solutions to compete in the region’s digital economy, set to double to USD 30 billion by 2018, business experts announced on Monday at Gitex Technology Week. With the growth in digital Islamic services, such as mobile apps, websites, and e-commerce platforms for Islamic finance and fashion, and halal food and travel, the Middle East’s Digital Economy is set double from USD 15 billion in 2015 to USD 30 billion in 2018, according to a report by Deloitte. The rapid uptake in mobile and Web usage, along with spending on e-commerce and digital advertising, are fueling the global digital economy, which is set to grow from USD 1.9 trillion in 2014 to USD 4.3 trillion by 2020, according to a recent report by Thomson Reuters.

“To compete and grow in the digital economy, executives in the boardrooms of the Middle East need real-time, contextualized data to make decisions for today, setting the stage for transformation and future growth,” said Jonathan Becher, Chief Digital Officer and Head of SAP Digital. “Middle East business leaders driving digital transformations cannot rely on static slideshows and outdated data,” added Becher. “They need to simplify operations through real-time analysis of data from different divisions, such as HR, logistics and marketing.

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