Saudi POS spending holds above $3bn as hotel outlays rise: SAMA

RIYADH: Spending on hotel bookings in Saudi Arabia increased by 14 percent in the week ending Jan. 17, keeping total weekly outlays above $3 billion.

According to the latest data from the Saudi Central Bank, overall POS value dropped 1.4 percent to SR14 billion ($3.73 billion), while the number of transactions recorded a marginal 0.1 percent week-on-week decline to 236.53 million.

The seven-day period saw mixed changes across sectors, with spending at bakeries and pastry shops rising 2.1 percent to SR281.46 million, while gas stations recorded a 0.8 percent uptick and professional and business services saw a 0.4 percent increase.

Meanwhile, education saw the biggest decrease at 33.7 percent to SR162.98 million, followed by freight transport and courier services, which dropped 12.5 percent to SR41.64 million.

Expenditure on apparel and clothing fell 5.2 percent to SR1.3 billion, followed by a 4.4 percent decline in spending on books and stationery. Jewelry outlays declined 3.9 percent to SR406.03 million.