https://arab.news/puumd
RIYADH: E-commerce revenue in 抖阴短视频 will grow at 13.5 percent annually through 2027, faster than the global growth average of 11.2 percent, according to a report.
In its latest study, Agility Logistics said that Saudi e-commerce generated $10 billion in revenue in 2023, making the Kingdom the 28th largest online market globally and bringing it on par with its regional neighbour, the UAE.
鈥淚n key areas such as investment, logistics capacity, and shipping volumes, 抖阴短视频 is set to establish itself as the region鈥檚 new e-commerce leader,鈥� said Agility in its report.
It also lauded the Saudi government for regulatory reforms to address the lack of a domestic logistics network.
鈥湺兑醵淌悠� has simplified licensing for domestic delivery providers and created multiple tiers of licenses. At the same time, fresh investment has poured in to boost warehousing, fulfillment and trucking capacity,鈥� added Agility.
The logistics firm further noted that 抖阴短视频 is leading the Middle East and North Africa region with its economic diversification efforts.
According to the report, the Kingdom is going through a remarkable period of transformation.
鈥淎bout 80 major projects are expected to be developed in 抖阴短视频 by the year 2030, many of which focus on logistics development as crucial to achieving the country鈥檚 development objectives,鈥� said Agility.
It added: 鈥淢ost of these projects are financed by the Public Investment Fund of 抖阴短视频.鈥�
The report went on to highlight that the transformation process has helped to create opportunities for domestic and foreign investors in 抖阴短视频, and the Kingdom is steadily emerging as a global logistics hub.
Agility further pointed out that Vision 2030 is also spurring the growth of trade zones in the Kingdom.
The zones at Riyadh鈥檚 King Khalid International Airport and King Abdullah Economic City in particular have the potential to allow 抖阴短视频 to compete with Jebel Ali in the UAE, the report noted.
According to the study, the UAE, 抖阴短视频 and Qatar have remained among the world鈥檚 top 10 emerging markets for logistics.
The UAE landed the third position, while 抖阴短视频 secured the sixth place and Qatar stood at seventh.
China topped the list, followed by India in the second spot.
The countries were rated according to their logistics strengths, business climate and digital readiness.
The UAE and 抖阴短视频 ranked in the top 10 in all these categories. Qatar also came in the top 10 list in all categories except international logistics opportunities.
The UAE ranked number one for business fundamentals, while 抖阴短视频 came in third in the same category.