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August 14, 2014

Why MIDDLE EAST is the Next New BRIC Powerhouse

Latest reports indicate that " Middle east markets  along with North Africa ( MENA )   set to emerge as the Next  BRIC Powerhouse is likely to see increasing technology adoption  both across B2c markets and B2b 

Smartphones and Internet " ate among the two drivers which is set   to grow to double digits are among key drivers that would " provide more jobs for the local people, as more start ups incubate which in turn will lead to more " local outsourcing opportunities to small and medium back offices
There are three interesting things about MENA Countries  in this context which explains why this market is possibly undeserved  and potential is enormous
  1.  Only two countries [Saudi Arabia and Kuwait]  usage  account for more than 11 percent of all web page views."  (  wearesocial data )
  2.  Africa has the youngest population in the world, with 200 million people aged between 15 and 24, according to the United Nations (UN). -
  3. World Bank says Africa’s middle class is forecast to grow from 355 million  (34% of the continent’s population) in 2010 to 1.1 billion (42%of the population) in 2060
  4.  Frost & Sullivan has predicted that smartphone usage in sub-Saharan Africa is expected to grow 40% each year until 2017.