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Business, 11.10.2020 07:01 ewalker1917

The Middle East and North Africa (MENA) is a distinct region, covering a large region extending from Morocco to Oman, including all Middle Eastern and Maghreb countries, a region
synonymous with the Greater Middle East. The population of the MENA region is about 381
million people; the vast majority living in middle-income countries represents about 6% of the
total world population. MENA is usually grouped by international, economic, and academic
organizations; influenced by economic and political transformations, but with an inheritance for
better growth. Therefore, it benefits from a privileged geographic location - access to large
markets, such as a young and frequently educated population, and comparative advantages in
different sectors such as tourism, manufacturing, and renewable energies. Also, MENA
economies are implementing reforms to improve employment, economic growth, diversification,
governance structures, private sector development, and integrity.
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Entrepreneurship is an essential driver for economic growth and innovation. A report on the
Middle East’s economic recovery (2016), highlighted the impact of entrepreneurship’s “multiplier
effect” on an economy. The report also claimed that for every ten successful new enterprises,
nearly $1.5 billion in current valuations and more than 2,500 jobs are created. Furthermore, if
we talk about the digital spaces, a generation of local MENA start-ups have emerged and gained
a base throughout the value chains of various sectors, such as — e-commerce, logistics, digital
music, last-mile delivery, and travel. All these illustrate the growth of local digital
entrepreneurship.

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