I was honored to stand at ITLive 2022 before more than 4,000 people from the IT community to talk about our country's current digital-economy status. My narrative started with the available market size for e-commerce, then expanded to other verticals — quick commerce, social commerce, food delivery, ride hailing, fintech — and the untapped markets beyond.
Despite a globally difficult moment (supply-chain strain, the Russia–Ukraine conflict, US rate hikes, post-pandemic pressure), the World Bank forecast the Iraqi economy to grow around 8.9% that year. The Central Bank announced rising foreign reserves expected to surpass $90Bn by year-end, oil exports surpassed $11Bn in a single month, and prices ran well above projections.
The rise of Generation Z and Generation Alpha — with their digital literacy — plus the COVID digital shift and faster internet, created several investment opportunities in digital businesses. I expect big expansion in e-commerce over the next two years and intense competition in quick commerce among 8+ startups. Together with broken market barriers in ride hailing and banking, this is enriching customers' digital experience fast — and creating better employment for those who invest in new skills. EduTech is also on the rise, another dimension worth watching.