Saudi POS Value Holds Above $3bn for Fourth Consecutive Week
Despite declines across most sectors, hotel spending drives total point-of-sale transactions to SR12.19 billion ($3.25 billion).
Riyadh: Hotel spending in Saudi Arabia surged by 2.1 percent in the week ending July 19, driving total point-of-sale (POS) transactions to SR12.19 billion ($3.25 billion), even as most other sectors saw declines.
This marks the fourth consecutive week that POS value has remained above the $3 billion mark, according to data from the Saudi Central Bank, also known as SAMA.The hotel sector recorded SR287.44 million in transaction value, with the number of transactions slipping 2.1 percent to 822,000.
Overall POS transactions across all sectors declined 4.8 percent to 212.73 million.SAMA's bulletin indicates that the clothing and footwear sector experienced the largest decrease, falling by 13 percent to SR719.45 million.
The communications sector ranked next, decreasing by 12.5 percent to SR102.94 million.Restaurants and cafes, which hold the biggest share of total POS value, recorded a 6.9 percent decline to SR1.79 billion.
The food and beverages sector saw a 6.6 percent decrease, totaling SR1.73 billion and claiming the second-largest share of this week's POS.
Spending on miscellaneous goods and services ranked third despite a 9.9 percent decline to SR1.36 billion.The top three categories accounted for approximately 39.9 percent of the week's total spending, amounting to SR4.88 billion.Expenditure on building materials saw the smallest decrease, down by 0.2 percent to SR330.02 million, followed by transportation which dipped by 0.6 percent to SR718.02 million.The health sector witnessed an 8.1 percent decline to SR740.27 million, while furniture expenditure decreased by 3.7 percent to SR265.57 million.Spending on jewelry fell by 11.7 percent to SR269.61 million, followed by a 9.9 percent decrease in spending on recreation and culture.Geographically, Riyadh dominated POS transactions with expenses in the capital reaching SR4.20 billion, a 6 percent decrease from the previous week.
Jeddah followed closely with a 7.2 percent dip to SR1.76 billion, while Dammam ranked third, down 6.9 percent to SR582.99 million.Abha saw the smallest decline, decreasing by 1.1 percent to SR207.48 million, followed by Makkah with a 4.5 percent decrease to SR507.03 million.Hail recorded 3.69 million deals in transaction volume, down 7.6 percent from the previous week, while Tabuk reached 4.16 million transactions, dropping 9.1 percent.
This marks the fourth consecutive week that POS value has remained above the $3 billion mark, according to data from the Saudi Central Bank, also known as SAMA.The hotel sector recorded SR287.44 million in transaction value, with the number of transactions slipping 2.1 percent to 822,000.
Overall POS transactions across all sectors declined 4.8 percent to 212.73 million.SAMA's bulletin indicates that the clothing and footwear sector experienced the largest decrease, falling by 13 percent to SR719.45 million.
The communications sector ranked next, decreasing by 12.5 percent to SR102.94 million.Restaurants and cafes, which hold the biggest share of total POS value, recorded a 6.9 percent decline to SR1.79 billion.
The food and beverages sector saw a 6.6 percent decrease, totaling SR1.73 billion and claiming the second-largest share of this week's POS.
Spending on miscellaneous goods and services ranked third despite a 9.9 percent decline to SR1.36 billion.The top three categories accounted for approximately 39.9 percent of the week's total spending, amounting to SR4.88 billion.Expenditure on building materials saw the smallest decrease, down by 0.2 percent to SR330.02 million, followed by transportation which dipped by 0.6 percent to SR718.02 million.The health sector witnessed an 8.1 percent decline to SR740.27 million, while furniture expenditure decreased by 3.7 percent to SR265.57 million.Spending on jewelry fell by 11.7 percent to SR269.61 million, followed by a 9.9 percent decrease in spending on recreation and culture.Geographically, Riyadh dominated POS transactions with expenses in the capital reaching SR4.20 billion, a 6 percent decrease from the previous week.
Jeddah followed closely with a 7.2 percent dip to SR1.76 billion, while Dammam ranked third, down 6.9 percent to SR582.99 million.Abha saw the smallest decline, decreasing by 1.1 percent to SR207.48 million, followed by Makkah with a 4.5 percent decrease to SR507.03 million.Hail recorded 3.69 million deals in transaction volume, down 7.6 percent from the previous week, while Tabuk reached 4.16 million transactions, dropping 9.1 percent.
