Saudi Arabia’s Point-of-Sale Spending Reaches SR11.2 Billion
In a week from July 21 to 27, point-of-sale spending in Saudi Arabia soared to SR11.2 billion ($2.99 billion), showing a 2.8 percent increase, according to official data from the Saudi Central Bank, also known as SAMA.
Education Sector Sees a Significant Surge
The education sector witnessed the biggest increase of 23.4 percent during the week, with the total value of transactions skyrocketing to SR116.1 million, up from SR94.1 million in the previous seven-day period.
Positive Direction Regained in POS Spending
After a decrease of 8.8 percent the week before, POS spending in the Kingdom regained its positive momentum from July 20 to 27.
Jewelry and Hotel Spending Show Remarkable Growth
Saudis spent SR209.9 million on jewelry, marking an 18.8 percent increase, while hotel spending surged by 8.6 percent to reach a value of SR293.6 million.
Various Sectors Witness Increase in Transaction Values
This week’s POS transactions revealed no negative figures in terms of purchase values. The smallest increase, at 0.4 percent, was in spending on food and beverages, accounting for the second-largest share of POS transactions. Gas stations saw a 0.8 percent increase, reaching SR782.4 million.
Restaurant and Cafe Outlays Dominate POS Spending
For the second consecutive week, restaurant and cafe outlays dominated POS spending, reaching SR1.69 billion. The health sector followed closely with SR706.3 million, both showing a 1.4 percent increase.
Riyadh Leads in POS Spending
Data from SAMA indicated that 33.1 percent of POS spending occurred in Riyadh, with a total transaction value of SR3.72 billion, marking a 2.5 percent rise from the previous week. Jeddah and Dammam also saw positive changes in spending, while Madinah registered the largest increase at 4.9 percent.