RIYADH: Consumer spending in Saudi Arabia accelerated last week, with point-of-sale transactions rising 3 percent to SR12.77 billion ($3.40 billion), driven by higher spending across most sectors, official data showed.
According to figures from the Saudi Central Bank, also known as SAMA, the number of transactions edged up 1.7 percent to 221.43 million in the week ending Sept. 27.
The sustained momentum highlights consumer confidence and the Kingdom’s ongoing digital payments transformation under Vision 2030 initiatives.
Spending on recreation — the fastest-growing subsector — surged 16 percent during the week to SR255.27 million, with 2.77 million transactions, boosted by anticipation of Riyadh Season, the Kingdom’s flagship entertainment festival set to begin later this month.
Telecommunication spending came second, rising 12 percent to SR155.73 million. Personal care rose by 10.3 percent to SR114.01 million, while the number of transactions increased by 7.2 percent to 2.37 million.
