K-Net transactions value surpassed $1bn in 2016; Websites in Kuwait attract large viewers

Minister of Commerce and Industry Khaled Al-Roudhan said yesterday that the transactions value of the retail payment system (K-Net) in Kuwait has surpassed $1 billion in 2016. Digital business in Kuwait has seen lately a major prosperity, Roudhan, also Acting Minister of State for Youth Affairs, said in his opening speech at the second edition of ArabNet Kuwait conference and exhibition.

Social media penetration in Kuwait is at 96 percent, one of the highest globally, and leading the MENA region on platforms such as Snapchat and Instagram, he said. Websites in Kuwait also attract a high percentage of viewers; around 320 million viewers monthly with an average of six minutes of time spent on a
page, added Roudhan. Such an excellent ratio indicates that Kuwaiti web users prefer reading web headlines in more details than fast browsing, he said.