Muscat: E-commerce is predicted to play a key role in reshaping Oman's employment and business environment. Moawiya Al Rawas, CEO and Co-Founder of iON LLC, shared his vision of unlocking employment potential through e-commerce at the Oman Job Fair held at the Oman Convention and Exhibition Centre. Al Rawas outlined the huge opportunities for job creation and economic growth in Oman's e-commerce sector by highlighting key statistics and forecasts.
Al Rawas began by outlining Oman's current employment situation. He noted that the private sector employs 69.5 percent of Oman's total workforce, compared to 16.2 percent in the public sector and 14.3 percent in other sectors. He also noted that 84 percent of the public sector workforce are Omani employees, numbering 346,460, while 14 percent of Omanis are employed in the private sector, numbering 218,000. This distribution highlights the need for more Omanis to engage with private sector opportunities, especially in emerging areas such as e-commerce.
He said that based on regional growth trends and local government reports, Oman's e-commerce market is expected to reach $2.64 billion by 2025 and $6.57 billion by 2025. This dramatic growth not only represents a huge opportunity for economic development, but will also lead to job creation, with 200,000 jobs predicted to be created in the sector by 2028.
Moawiya Al Rawas, CEO and Co-Founder of iON LLC;
Al Rawas emphasised the importance of mastering e-commerce skills to succeed in this rapidly evolving market. He outlined 10 job roles essential for an e-commerce business, including e-commerce manager, digital marketing specialist and customer service representative. These skills are vital for small businesses to succeed in the competitive e-commerce space and maximise their employability.
To illustrate the financial viability of e-commerce, Al Rawas discussed optimal annual financials for e-commerce SMEs. He provided insights into average transaction value, annual revenue, and expected profit margins based on different levels of transactions. For example, an e-commerce business with 25,000 transactions per year, an average of 2,083 transactions per month, and an average value of 30 rials per transaction could generate a profit of 300,000 rials per year. This example illustrates the huge revenue potential of this sector.
Al Rawas also highlighted job opportunities across the market in the e-commerce sector. By the end of 2023, 135,064 SMEs will be registered, of which 31 percent will be classified as retail, with around 42,000 businesses likely to move online. Al Rawas predicted that 50 percent of these retail SMEs could thrive online within the next five years, estimating a total of 200,000 job opportunities in the e-commerce sector.
By leveraging e-commerce technologies, platforms and social commerce solutions, Omani businesses have the potential to drive job growth and economic prosperity. Al Rawas' vision for a thriving e-commerce ecosystem in Oman is aligned with the country's goal of diversifying its economy and creating sustainable employment opportunities for its people.
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