Digital commerce transaction value to reach QR30bn in 2024, says expert

Doha: The digital commerce market is currently witnessing a sturdy boom in Qatar as several reports indicate the upward trajectory growth in 2024....

Doha: The digital commerce market is currently witnessing a sturdy boom in Qatar as several reports indicate the upward trajectory growth in 2024.

According to Statista, the transaction value of the sector is estimated to amount to $8.25bn (QR30.01bn) this year with a compound annual growth rate of 8.30 percent within the next four years. The total amount of digital commerce sector is expected to total $11.35bn by 2028.

Speaking to The Peninsula on the resilient industry, Anas Noufal, a digital commerce market expert reflected upon the key trends that bolster the sector in Qatar.

He said: “The industry has been always robust, given the influx of new products that enter Qatar’s market, especially after the World Cup 2022. Numerous investors and tourists understood the market value in Qatar during the FIFA tournament and apparently shifted their business interests to this part of the region.”

Noufal stressed the importance of the staggering market value, which reflects Qatar’s commitment to its national strategy vision 2030.