Saudi Arabia’s Point-of-Sale Spending Reaches SR8.34 Billion in One Week
In a recent report by the Saudi Central Bank (SAMA), it was revealed that Saudi Arabia’s point-of-sale spending hit SR8.34 billion ($2.22 billion) from June 16 to 22. The capital city, Riyadh, accounted for 30.3 percent of the total spending.
Impact on Different Sectors
Transactions at restaurants and cafes saw a 20 percent dip, amounting to SR1.61 billion, while spending on food and beverages decreased by 32.4 percent, reaching SR1.36 billion. Miscellaneous goods and services witnessed a 47.4 percent decrease, totaling SR991.6 million.
The hotel sector experienced the smallest drop at 5.1 percent, while gas stations saw a 21.1 percent decrease. On the other hand, the footwear and clothing sector recorded the highest decline of 64.4 percent.
Regional Breakdown
Riyadh led in POS spending with SR2.46 billion, followed by Jeddah at SR1.17 billion. Hail and Madinah saw decreases of 45.9 percent and 37 percent, respectively. Tabuk and Dammam experienced the highest losses, with decreases of 52.6 percent and 47.4 percent.
Previous Trends
From May 26 to June 1, POS spending reached a record high of SR15.22 billion before declining. Spending on food and beverages surged by 43.8 percent during that period.