MENA Tech 2023: Mapping The Technology Landscape
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Over the last decade, MENA’s technology scene has evolved from a relatively disparate collection of markets that largely followed the lead of economies such as the US and China, to a region confidently forging its own technological identity.
And with a comparatively young, tech-savvy population of around 578 million, an e-commerce market set to surpass $57bn in value by 2026, and one of the world’s most connected populations (98% of those in GCC countries are connected to the internet), the opportunities to be found here are enormous.
As some MENA economies turbocharge their strategies to diversify from oil and gas, creating the conditions for world-leading technology industries to thrive is at the very core of how many regional governments aim to achieve these plans.
Indeed, the evidence speaks for itself. For instance, the UAE is in the process of creating five hundred national technology companies as part of its ‘Projects of the 50’ initiative. And in Egypt, entire cities are being created that are dedicated to strengthening the country’s status as a regional technological force.
This report will outline that, throughout the region, the groundwork is well and truly being laid to ensure that technology is central to the cultural and economic future of MENA’s diverse collection of countries.
From the region’s world-leading fintech ecosystem, to the home-grown innovations being used in the fight against climate change, the world’s attention is rapidly turning to what is happening here, right now.
Anybody familiar with the Arab countries of the MENA region will be aware of their unique brand of infectious enthusiasm and can-do spirit. This is a region where some of the world’s most advanced modern cities have sprung up from the desert in a matter of decades.
In short, this is a place where anything is possible. Our research shows that MENA is more than ready to face its future as one of the world’s leading technology hubs, which will soon set the rules for other regions to follow.
