The UAE is one of the global leaders for e-commerce, according to a new report.
Only the Republic of Korea, Hong Kong and Singapore ranked higher in the index, which saw the UAE rise 41 spots since the last report in 2014.
A total of 151 economies were ranked in the index, which measures an economy’s preparedness to support online shopping based on four indicators, including the number of individuals using the internet, the reliability of postage and the security of internet servers.
The UAE ranked highly for the number of accounts and internet usage but lower for postal reliability – despite the report noting that the country has made significant improvements in postage.
One of the reasons for the UAE’s growth, as listed in the report, is the purchase of UAE-based souq.com by Amazon, which bought the company in May 2017 for approximately AED 158m.