The Middle East Internet Group (MEIG), a joint venture of Rocket Internet and MTN, released this week its latest infographic, depicting another side of the Middle East's economic health.
Although this region has seen its share of turmoil over the past few years, expats hoping to build ‘the next big thing’ have been relocating to take advantage of business opportunity.
According to the MEIG, some Middle Eastern countries not directly involved in armed conflicts are amongst the fastest growing economies in the world, and are attracting an increasing number of expats. The United Arab Emirates, for instance, was ranked the 9th most attractive country for expats.
Here are a few elements mentioned in the infographic that attract expats in the Middle East:
- Internet penetration in Qatar is the second highest in the world at 96.65%. In the UAE, it’s 93.24%.
- GDP per capita is $93 USD in Qatar, $56 in Kuwait (for 2012) and $41 in the UAE.
- GDP growth was 6.2% in Kuwait, 5.6% in Qatar, and 3.8% in KSA.
- Saudi Arabia will have an estimated e-commerce growth of 43% in 2014.
Founded in 2013, MEIG's mission is to accelerate the growth of the internet economy throughout the Middle East. MEIG's network comprises five companies, operating in six countries. Among these are thriving companies such as Easy Taxi, Lamudi, and Carmudi, alongside other established Rocket Internet brands such as Namshi and Hellofood.