With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.
Sharjah has one of the most diversified economies in the UAE, with a strong foundation in industry and manufacturing. Approximately 95.8% of its economic activity was derived from non-oil sectors in 2019, positioning the emirate to absorb much of the impact of the Covid-19 pandemic.
In Qatar, retailers that have successfully weathered the Covid-19 pandemic are now committed to a blended, omnichannel distribution strategy, which involves boosting and expanding their digital offerings while at the same time maintaining a brick-and-mortar footprint.
Mirroring global trends, the coronavirus pandemic led to a rapid increase in online payment activity in Latin America over the course of 2020, turning the region into one of the fastest-growing e-commerce markets in the world.
The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.
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