Investment Key To Internet Economy’s Regional Growth

The internet economy is key to the region’s future growth but needs financial support to achieve its potential, according to Dimitri Metaxas, head of Digital for OMG MENA.

Speaking on the opening morning of the Digital Media Forum in Dubai, Metaxas cited private enterprises and angel investors in particular as “critical” factors in driving growth.

While the region has among the highest internet penetration rates in the world, he said its internet speeds “are not where they want to be” and it’s still not in “the right stratosphere” when it comes to digital.

But he said there were plenty of encouraging signs with e-commerce spends across the Arab World growing 45 per cent to $15 billion last year – fuelled to a large degree by its tech-savvy, youth-dominated populations.

Saudi Arabian users are online longest and most frequently, and the Kingdom’s digital sphere accounts for 2.2 per cent of GDP, a figure projected to double in the next three years. “Digital is no longer niche – it’s in the mass market space,” he said.

Guy Yalif, head of Global Product Marketing at Twitter, said 1 billion tweets are sent every two-and-a-half days, providing consumers and advertisers with round-the-clock platforms for conversation and engagement.

But he said users should remember Twitter “is a bridge, not an island” and always be mindful that “interesting content travels quickly”.

Tweets with questions in them had a 17 per cent click-through rate – but ones riddled with exclamation marks were a turn off – while mobile users are 66 per cent more likely to retweet messages.