(MENAFN) The e-commerce market in the GCC States is predicted to grow to USD20bn by 2020 from USD5.3bn in 2015, as online shopping grows in the area.
Additionally, the e-commerce contributes almost 0.4 percent to the region GDP, whereas 34 percent of main GCC retailers have an e-commerce presence.
Moreover, e-commerce payments using Visa cards in the GCC reached to USD2.5bn in 2015, up 24 percent over 2014.
On the other hand, the markets in the UAE and Saudi Arabia increased by 28 percent and 37 percent respectively in 2015.
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