E-commerce in Saudi Arabia Grows 17% in Q1 2024
Riyadh, Saudi Arabia — Saudi Arabia’s e-commerce sector is experiencing rapid expansion, with a 17% surge in commercial registrations during Q1 2024. According to the Ministry of Commerce, the total number of e-commerce licenses rose to 38,850, up from 33,070 in the same period last year — signaling strong momentum in the digital economy.
Riyadh led the growth with 15,600 registrations, followed by Mecca with 9,897, and the Eastern Region with 6,129. The Kingdom recorded a total of 104,000 commercial registrations across all sectors during the first quarter.
Legislative Support and Vision 2030 Alignment
In a recent meeting at the Jeddah Chamber of Commerce, Minister of Commerce Dr. Majid Al Qasabi highlighted how legislative reforms are powering business activity. Over 70 new or updated laws have been introduced since the launch of Vision 2030, including the Companies Law, which supports family enterprises and startups.
Thanks to these reforms, Saudi Arabia ranked 17th out of 64 countries in the global competitiveness index in 2023 — its highest ever — and third among G20 nations. These improvements help position the Kingdom as a top destination for digital and entrepreneurial growth.
E-commerce Sector Reaches SAR 80 Billion
Salah Al Otaibi, director of the Saudi E-commerce and Online Marketing Expo, confirmed that the sector’s value has reached SAR 80 billion. He cited more than 36,000 verified online stores on the “Maroof” platform and noted the dominance of online retail, digital marketing, logistics, and e-payments in driving sector success.
He added that strong government backing and growing consumer demand are enabling Saudi Arabia to emerge as one of the fastest-growing e-commerce markets globally.
The momentum in e-commerce highlights Saudi Arabia’s broader strategy to diversify its economy, reduce reliance on oil, and build a competitive digital infrastructure aligned with the goals of Vision 2030.
