Saudi Arabia’s Point-of-Sale Spending Reaches $4.05 Billion in a Week
In a recent report released by the Saudi Central Bank, it was revealed that point-of-sale spending in Saudi Arabia reached an impressive SR15.22 billion ($4.05 billion) from May 26 to June 1.
Food and Beverages Lead the Way with a 43.8% Surge
The data showed that spending on food and beverages, which accounted for the largest share at 15.7 percent, saw a significant 43.8 percent surge, reaching SR2.40 billion during the week.
Restaurants and Cafes See a 26.2% Increase
Transactions at restaurants and cafes, which held a 13.6 percent share, also saw a notable increase of 26.2 percent, amounting to SR2.07 billion.
Miscellaneous Goods and Services Witness a 37.5% Increase
Saudi spending on miscellaneous goods and services, including personal care items, supplies, maintenance, and cleaning, constituted the third-highest share and witnessed a significant 37.5 percent increase, reaching SR1.87 billion.
Education Sector Sees Major Growth
Despite composing only 1.5 percent of the overall POS value for the week, spending on education recorded a major increase of 55.8 percent to SR237.5 million. This sector has been a focus of government expenditure in recent years.
Clothing and Footwear Lead in Surge
The clothing and footwear sector experienced the largest increase in POS transaction value, surging by 56.8 percent to SR999.08 million. The telecommunication sector followed closely with a 56.4 percent increase to SR148.6 million.
Riyadh Emerges as a Hub for Growth
According to SAMA data, 33.1 percent of POS spending occurred in Riyadh, with the total transaction value reaching SR5.04 billion, representing a 27.1 percent increase from the previous week. Riyadh’s expansion as a center for growth and progress has attracted new businesses seeking investment and innovation.
Jeddah and Other Cities Also See Positive Growth
Spending in Jeddah followed Riyadh, accounting for 13.5 percent of the total and reaching SR2.06 billion, marking a 28.7 percent weekly positive change. Hail and Tabuk saw the highest surges in POS spending, with increases of 56.6 percent and 55.1 percent, respectively.