Saudi POS Transactions Surge Amid Airlines Spending Boost
Riyadh: The total point-of-sale (POS) transactions in Saudi Arabia reached SR13.71 billion ($3.65 billion) during the week ending November 8, driven by an increase in spending on airlines.
According to data from the Saudi Central Bank, known as SAMA, airline sector spending rose by 5.3% to SR66.68 million despite a decline of 5.3% in transactions to 138,000.
Overall POS spending dropped 14.4% week on week and total transactions fell by 7.5% to 235.47 million compared with the previous week's 254.45 million.
Expenditure declines were noted across various sectors such as food and beverages, telecommunications, personal care, auto, and equipment rentals.
Riyadh, Jeddah, and Dammam saw decreases in transaction values and numbers.
The POS data indicates consumer spending trends and growth of digital payments in the country, contributing to the Kingdom's broader digital economy in alignment with Vision 2030 objectives.
Overall POS spending dropped 14.4% week on week and total transactions fell by 7.5% to 235.47 million compared with the previous week's 254.45 million.
Expenditure declines were noted across various sectors such as food and beverages, telecommunications, personal care, auto, and equipment rentals.
Riyadh, Jeddah, and Dammam saw decreases in transaction values and numbers.
The POS data indicates consumer spending trends and growth of digital payments in the country, contributing to the Kingdom's broader digital economy in alignment with Vision 2030 objectives.
