Prime Highlights-
- Saudi Arabia records a strong rise in POS transactions, reflecting higher consumer spending and digital payment adoption.
- Education and healthcare sectors lead growth, driving overall transaction volumes across the economy.
Key Facts-
- Data from the Saudi Central Bank shows total POS value reached SR14.7 billion, with transactions rising to 246.5 million.
- Major cities including Riyadh, Jeddah, and Dammam reported increased spending and transaction activity.
Background-
Point-of-sale transactions in Saudi Arabia grew sharply last week, with consumers spending more across various sectors and using digital payment methods.
Official data from the Saudi Central Bank showed total transaction value climbed 13.4 percent to SR14.7 billion ($3.9 billion) compared to the previous week. The number of transactions also rose 12.1 percent to 246.5 million during the same period.
The sharp increase came mainly from education-related spending as students went back to school after the Eid Al-Fitr holiday. Schools and universities recorded the biggest rise in transactions, with parents buying school supplies, paying tuition fees, and purchasing books and stationery.
Healthcare spending also registered notable gains. Consumers spent more on medical consultations, pharmacy purchases, and personal care items, adding to the overall growth in transaction volumes.
Food and beverage spending continued to account for a significant portion of total transactions. The steady demand in this category shows stable household consumption habits and suggests Saudi consumers remain confident in their day-to-day purchases.
Riyadh recorded the highest spending in the country, accounting for the largest share of transactions. Jeddah and Dammam ranked second and third, with both cities reporting higher transaction values and more purchases.
Cashless payments have grown as Saudi Arabia’s digital infrastructure expands. More people are using electronic payments over cash, supporting Saudi Vision 2030’s digital economy goals.
