The Impact of Technology on the Economy of UAE

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Introduction There is no doubt in the fact that e-commerce has constantly been on the rise within UAE and was been able to grasp the attention of the various consumers over the past few years. Brands like Visa and MasterCard have gained the utmost prominence due to this reason and this does reveal the fact that more than 50% people across the globe shop for various products and services. UAE has always been a very important market for the consumers around the world (Kessler, 2003). Various factors have influenced the growth of UAE over the past few years. UAE is a free port and is rich with oil and gas resources. This has made the country economically strong and has enabled the country to solidify its position in each and every sector. UAE has not limited its business to trade and commerce but has diversified its economic portfolio by opening several shopping malls and outlets and has become an important source of revenue for its citizens and has become a favorite destination for shopping lovers. The Impact of Technology on the Economy of UAE The alternates available for shopping across UAE have been unlimited and one of the main factors which have helped in the growth of shopping across the Middle East giant has been E-commerce. There has been a huge growth of internet shopping across UAE and it does reflect the convenience which has been portrayed by implementing this trend across the region. Constant growth and development of science and technology has helped corporations in deliver products and services online and it helps customers in shopping with just a single click. Prominence of E-commerce in UAE E-commerce has certainly added more spice to the already thriving economy of the UAE. The use of online shopping and credit car... ... middle of paper ... ...Language but such modifications in chosen language will increase the use of E-commerce among traditional traders and consumers Conclusion The major reason behind the fact that why the technology of E-commerce has gained so much popularity in UAE is because it facilitates various businesses to effectively converse with each other for the purpose of carrying out the business transactions with each other, anytime and anywhere. No matter a person lives in UAE or anywhere else in the world, he or she can effectively and successfully carry out his business transactions with another person, easily and swiftly with the assistance of the e-commerce technology. Basically, the e-commerce technology facilitates and empowers the users to eradicate the geophysical barriers, for the purpose of making the clients, customers and businesses as prospective customers and suppliers.

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