The world today is markedly different from 20 years ago when only 1% of the global population had an internet connection. Internet has revolutionized the way the world does business on both a local and global level. From recruiting employees to gathering data on the competition, the ways businesses take advantage of the Internet are varied.
Internet connection provides a window into the world, allowing anyone with a computer to act globally, opening a door to lowering costs and increasing sales to even the smallest businesses. Today, communication is easier and cheaper than ever. Anyone can communicate with another person anywhere in the world through text messages, emails, and even live video. For business, this means higher efficiency and quicker processing of sales. Obviously information at faster speeds saves time, which either saves or makes money.
Latest statistics show that around the world 40% of people had access to internet in 2015. However in the Middle- East internet penetration is 52.2% on average, which is higher.
In fact, there are three Middle East countries where internet penetration is above 90%: Bahrain (96,4%), United Arab Emirates (93,2%) and Qatar (91,9%). On the other side of the spectrum we have Yemen, Syria, and Iraq, which are all below the 40% world average.
Iran has an internet penetration rate of 57,2%, well above the world average. However, most importantly, being the country with the most numerous population of the area (currently 81,824,270 inhabitants) this means a market of over 46 million consumers.
The data for the remaining countries in the region are as follows: Saudi Arabia, 65.9%; Israel 74.7%; Oman 78.6%; Kuwait, 78.7%; Lebanon, 80.4%; Jordan 86.1%.
Behind this information is an important opportunity if you are thinking of opening an international business where internet has a central role, because it means you should be taking into account the Arab market very seriously.