This article is built on the World Bank 2019 report findings and the social and economic factors that take place in this region.
So if you are a business owner in any field. Take into consideration what we will mention below as success metrics in the MENA region. who knows maybe your career starts there. Keep reading 🙂
P.S: MENA stands for the Middle East and North Africa countries
The young population booming in MENA
The population in MENA is characterized by a high demographic growth rate. Young people between 18 – 49 represent a great portion of the social pyramid.
This metric helps in creating an energetic population, that could support companies to shift up.
We can say that Human Resources are the main engine of the future economy in this region.
People in MENA have versatile levels of college degrees. Each year millions of learners get their college degrees in different fields.
Students also enjoy foreign learning systems in their home countries. Due to the international universities landing there. Such as the American University, British Council…
The exchange programs have also brought considerable skills for the local learners. This helps them to get skillful programs that fit the future job requirement.
Great digital awareness
IT and digital services invade major business sectors. that’s why people in the region reach a high level of smart services and AI invention.
The freelancing business model and the expertise exchange between these countries help in moving the business quality to the next level.
Among the business sectors that have a significant audience in the region are Design, Development & programming, Community management, marketing consultancy, translations, content production, online assistance…
Within the great Internet accessibility, people now are more capable to offer various services and create new business opportunities.
Political motivation and democratic climate
Although there are many countries that suffer from political transition’s outcomes. But many other ones are a promising destination for business investment.
This is pretty obvious through political reforms, legislation, facilities, infrastructure… that many policies are applying to boost their economy.
Even though there are many challenges. But by proof, many startups have witnessed a high performance referring to this climate.
The unemployment rate is no longer an obstacle
MENA region is not an exception as the whole world is experiencing an economic recession. But countries in this area are trying to integrate people into new business models.
That’s by providing them with financial support to start their own projects and supervising their workflow to secure consistent success.
These policies are adopted under organized mechanisms and social associations to enhance the economic status.
Natural resources are not the only investing sector
This is more obvious for petroleum countries, especially in the Gulf. They become more focused on services and digital sectors.
They realize that natural resources such as oil and gas are not renewal ones. added to that, oil prices are not fixed due to the international conditions and political instability.
Thus we find that countries like KSA, UAE, Bahrain, Oman, Kuwait… have shifted to the e-commerce industry. To secure a sustainable economy for the coming generations.
E-commerce is skyrocketing in MENA
Well, there is a difference between these countries in terms of e-commerce maturity.
So you may notice that the e-commerce industry is growing in countries like UAE, Saudi Arabia, Kuwait, Egypt, Qatar, Jordan
However, in countries like Tunisia, Lybia Mauritania, Palestine, Algeria e-commerce is still less performant.
Of course, this is justified by the differences in economic status, purchase power, and the purchase culture as well
But globally, the sector is dramatically growing Through economic & political reforms and internet penetration in the whole region.
Also, the consumption rate reaches a peak. And online purchase has become a common habit there. these are other indicators that explain why e-commerce is rising fast.
Therefore many startups, SMEs, and even holding companies, digitize their products and customize the way to reach the ultimate customers in the MENA region.
In other words, the brick and mortar business models are no longer sufficient in this area.
Social platforms are a key entry method to MENA markets
The MENA community is made up of a great percentage of young people. They are totally familiar with social platforms especially Snapchat, Twitter, and Instagram.
They are very active users and consider social platforms as the first medium to shape brand impression.
Influential people are ruling the social media, and we are not talking about traditional influentials as signers, actors, or Show presenters.
Actually, we mean the YouTubers who rock the media by the content they launch. They are more social and treat routine tasks but people are enjoying this content that deals with lifestyle and others’ life.
Make-up companies such as Sephora, Bioderma, Anastasia… use these influential YouTubers to promote their products in this region.
Recently Youtube offers the Diamond Shield for an Arabic YouTuber called Noor Stars from Iraq. This shows us how young people are creating job and fame opportunities from social media.
So to succeed in this region, focus on your social presence. To reach the community and branding goals.
Best examples of successful business in the region
Careem a transportation network company based in Dubai,. Operating in over 100 cities in 14 countries in the Middle East, Africa, and South Asia. ( UAE)
Jamalon is the largest online bookstore in the Middle East. It offers more than 9.5 million titles of Arabic and English books with home delivery. ( Jordan)
Expensya a SaaS expense management makes it easy for companies to manage their expense reports through its website and mobile apps. (Tunisia)
NOON is an online retailer that provides all ranges of products within same-day delivery. (UAE)
Instasalla E-groceries platform ( Kuwait)
GetMuv: Fitness startup (Saudi Arabia)
Waystocap B2B trade platform ( Morocco)
Vetcode is a shop for veterinary care and social care services for pets. (Egypt)
Yallabety, a home cooking sharing network (Bahrain)
Eblink, a company offering web solutions and training for Algerian entrepreneurs. ( Algeria)
Safra, a Ramallah-based online travel platform for travel agents in the Middle East and North Africa ( Palestine)
Modanisa online retailer for modest fashion ( Turkey)
Tirhal ride-hailing application ( Sudan)
and the list is on […]
Now if you tend to start your business in this region or you belong to one of these countries, Try it now and get benefits from these opportunities. See you; 😉