Top 11 Business Opportunities to Explore in the Middle East

Quick Summary: If you are a startup, you should know that businesses have significant market potential in the Middle East. From rapid digitalization to a tech-enthusiast population, this region provides a chance for brands to attract a global audience. This blog will help you know all the business opportunities to explore in the Middle East.

The Middle East has captured the attention of many entrepreneurs due to its fast-growing economy that provides golden business opportunities. Countries like Egypt, Saudi Arabia, UAE, and Kuwait have seen a rapid growth of online businesses.

Food delivery apps, taxi apps, FinTech, handyman apps, and IT solutions are some of the best business ideas to explore in the Middle East. Before investing, you need to look at all the possible opportunities that can boost your brand.

Are you a startup wanting to invest in the top businesses but are confused about what is the most successful business in the Middle East? 

Keep reading this blog and discover the best startup ideas to explore in the Middle East.

3 Reasons to Start a Business in the Middle East

Are you still looking for business opportunities in the Middle East? It is a region that comes with several benefits for startups. Some of the major reasons why you should consider the Middle East as your startup destination include the following:

1. Rapidly Expanding Market

The Middle East has a growing population with increasing purchasing power. It provides excellent opportunities for startups to launch their business and acquire customers quickly. With about 600 Million people, its age structure is mostly young, making it an even better destination for entrepreneurs.

2. Digital Transformation

The digital transformation in the Middle East is expected to grow at 22.7% CAGR between 2022-2032. Everyone, from regional businesses to the government, is quickly adapting to digital transformation. It has further led to rising demand for IT services, software solutions, and digital infrastructure to facilitate the transition.

3. Tech-Savvy Population

Did you know that more than 28% of the Middle East population is aged between 15 and 29? The youth is tech-savvy and is keen to adapt to technology quickly. Hence, it creates a favorable environment for startups to launch their online businesses and get a hold of valuable customers.

Now let’s look at the best business ideas to explore in the Middle East.

11 Business Opportunities in the Middle East

What are the top business ideas? As an entrepreneur, you should be aware of all the good options to invest in. Look at the list of the top 11 business opportunities that startups can invest in the Middle East. 

1. Taxi Booking App

The taxi industry is seeing rapid growth as people depend more on these services due to their convenience and cost-effective solutions.

Major players like Uber, Lyft, and InDriver have acquired a significant market share. In Saudi Arabia, the revenue in the ride-hailing and taxi market is projected to reach US$2.17bn by 2027, with the number of users reaching 10.60m in the same year.

Hence, startups and small businesses have great opportunities to explore the online taxi industry, gaining excellent results.