22/08/2026 03:50 AST
Saudi Arabia's consumer spending stayed above $3.5 billion for a third straight week as education outlays surged ahead of the new academic year, official data showed.
The Kingdom's point-of-sale transactions totaled SR14.19 billion ($3.79 billion) in the week ended Aug. 15, according to data from the Saudi Central Bank, also known as SAMA.
The figure was down 2.8 percent from the previous week, while the number of transactions fell 1.5 percent to 249.68 million.
The weekly decline in overall POS spending came despite a sharp increase in education-related transactions, which rose 62.7 percent week on week to SR446.08 million.
Economist Talat Hafiz told Arab News the surge "is likely driven by seasonal demand associated with the start of the new academic year, including tuition fees, school supplies, uniforms, and other education-related expenses."
He noted that the overall marginal 2.8 percent decline in POS transactions does not necessarily indicate a weakening in consumer demand; instead, it "reflects normal weekly volatility and shifts in the composition of spending, with stronger activity in some sectors partly offsetting declines in others."
Hafiz added: "This sharp increase suggests that the overall decline in POS transactions should be interpreted with caution and within the broader context of changing spending patterns."
Earlier this month, an analysis by Knight Frank revealed that Saudi Arabia's consumer spending rose 6.8 percent year on year to SR425 billion in the first quarter of 2026, supported by resilient demand, stable inflation and continued non-oil economic growth.
Sectoral spending
According to the latest report by SAMA, spending on food and beverages amounted to SR2.2 billion, representing a weekly decline of 3.7 percent.
Transactions in restaurants and cafes stood at SR1.82 billion, while spending on apparel, clothing and accessories totaled SR1.24 billion.
The transportation sector witnessed POS transactions worth SR1.06 billion, followed by spending at gas stations at SR1.02 billion.
In the healthcare sector, the value of transactions stood at SR846.03 million, while spending on professional businesses and services amounted to SR838.04 million.
Geographic breakdown
Riyadh dominated POS transactions, with spending in the capital reaching SR4.84 billion, marking a marginal 0.9 percent drop compared with the previous week.
The number of transactions in the capital city decreased by 0.7 percent to 79.80 million.
Jeddah witnessed POS transactions amounting to SR1.88 billion, while the total number of transactions stood at 27.70 million.
In Dammam, POS spending totaled SR651.95 million, followed by Makkah at SR573.66 million and Madinah at SR567.19 million.
Al-Khobar recorded POS spending valued at SR382.57 million, while spending in Buraidah and Abha amounted to SR343.92 million and SR263.37 million, respectively.
The latest data from SAMA suggests consumer confidence remains resilient in the Kingdom, despite global economic uncertainties, providing crucial support to the Kingdom's broader economic transformation agenda.
Arab News
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