RIYADH: Despite a general drop in point-of-sale transactions, hotel spending in Saudi Arabia increased 2.4 percent to SR270.7 million ($72.1 million) during the week of October 6–12. Following a 2.6 percent increase the week before, POS transactions dropped 10.6 percent to SR12.2 billion, according to the Saudi Central Bank’s most recent data. The biggest drop was in education spending, which fell 36% to SR125.9 million. Then came furniture and electronics spending, which fell 21.4 and 16 percent, respectively, to SR274.6 million and SR199.8 million.
During this time, the jewellery industry saw the least amount of decrease, falling 0.8 percent to SR261.4 million. Saudis spent SR293 million on culture and recreation, down 2.7 percent, and SR751.9 million on transportation, down 2.2 percent. Additionally, public utility and building material spending fell by 10.3 and 9.3 percent, respectively. Despite a 14.3 percent drop in expenditure, the food and beverage industry continued to hold the highest proportion of POS transactions from the previous week, with SR1.9 billion in transaction value.
Cafes and restaurants came in second at SR1.8 billion, followed by other goods and services at SR1.5 billion. Approximately 43 percent, or SR5.2 billion, of this week’s total value was spent in the top three categories. POS transactions were led by Riyadh, which accounted for 34.9 percent of the total. Capital expenditures reached SR4.28 billion, a 9 percent reduction.
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