Saudi POS spending surges by 5% in early July driven by hotel sector
Riyadh dominates as Saudi Arabia's point-of-sale transactions climb to SR14.3 billion in the week ending July 5.
Saudi Arabia’s point-of-sale (POS) transactions have surged 5 percent, reaching a total value of SR14.3 billion ($3.81 billion), in the week ending July 5, according to data from the Kingdom’s central bank, also known as SAMA.
This growth has been largely attributed to increased spending across multiple sectors, with hotels leading the charge with a significant jump in transaction value of 22.7 percent to SR260.74 million.
The hotel sector also saw an 18 percent rise in the number of transactions, reaching 802 million.
Telecommunication spending followed suit, recording a 9.8 percent increase in transaction value to SR136.09 million.
Public utilities spending rose by 8.8 percent to SR56.92 million with an uptick of 7.2 percent in the number of transactions, which reached 740 million.
Food and beverages — responsible for the largest share of total POS value among defined categories — saw a 6.9 percent increase to SR2.13 billion.
Transportation spending rose by 4.1 percent to SR776.28 million, while restaurants and cafes experienced a 3.5 percent increase totaling SR1.95 billion.
Miscellaneous goods and services claimed the third-largest share of total transaction value with an uptick of 8.6 percent to SR1.79 billion.
The smallest spending gains were seen in gas stations, up by 1.1 percent to SR974.03 million, and electronics, which increased by 3 percent to SR187.56 million.
Healthcare and furniture sectors also saw notable increases, growing by 3.7 percent and 8 percent respectively, reaching SR871.34 million and SR289.99 million.
Conversely, spending on education dropped by 33.5 percent to SR141.12 million, followed by a 6 percent decline in jewelry expenditure.
Recreation and culture sectors also experienced declines, falling 2.3 percent to reach SR287.79 million.
Geographically, Riyadh topped the POS transactions with expenses reaching SR4.87 billion, a 3.9 percent increase from the previous week.
Jeddah followed with a 6.8 percent rise to SR2.06 billion, and Dammam was third with an increase of 1 percent to SR680.17 million.
The regions of Tabuk and Khobar saw the smallest increases, rising by 0.1 percent and 0.5 percent respectively.
Hail recorded 4.21 million deals in transaction volume, up 6.4 percent, while Makkah achieved a total of 8.9 million transactions with an 8.8 percent increase.
This growth has been largely attributed to increased spending across multiple sectors, with hotels leading the charge with a significant jump in transaction value of 22.7 percent to SR260.74 million.
The hotel sector also saw an 18 percent rise in the number of transactions, reaching 802 million.
Telecommunication spending followed suit, recording a 9.8 percent increase in transaction value to SR136.09 million.
Public utilities spending rose by 8.8 percent to SR56.92 million with an uptick of 7.2 percent in the number of transactions, which reached 740 million.
Food and beverages — responsible for the largest share of total POS value among defined categories — saw a 6.9 percent increase to SR2.13 billion.
Transportation spending rose by 4.1 percent to SR776.28 million, while restaurants and cafes experienced a 3.5 percent increase totaling SR1.95 billion.
Miscellaneous goods and services claimed the third-largest share of total transaction value with an uptick of 8.6 percent to SR1.79 billion.
The smallest spending gains were seen in gas stations, up by 1.1 percent to SR974.03 million, and electronics, which increased by 3 percent to SR187.56 million.
Healthcare and furniture sectors also saw notable increases, growing by 3.7 percent and 8 percent respectively, reaching SR871.34 million and SR289.99 million.
Conversely, spending on education dropped by 33.5 percent to SR141.12 million, followed by a 6 percent decline in jewelry expenditure.
Recreation and culture sectors also experienced declines, falling 2.3 percent to reach SR287.79 million.
Geographically, Riyadh topped the POS transactions with expenses reaching SR4.87 billion, a 3.9 percent increase from the previous week.
Jeddah followed with a 6.8 percent rise to SR2.06 billion, and Dammam was third with an increase of 1 percent to SR680.17 million.
The regions of Tabuk and Khobar saw the smallest increases, rising by 0.1 percent and 0.5 percent respectively.
Hail recorded 4.21 million deals in transaction volume, up 6.4 percent, while Makkah achieved a total of 8.9 million transactions with an 8.8 percent increase.
