Written by 12:50 News, Saudi Arabia

Despite a General Decline in POS Transactions, Hotel Expenditure in Saudi Arabia Increased by 8.5%

Despite a General Decline in POS Transactions, Hotel Expenditure in Saudi Arabia Increased by 8.5%

RIYADH: Despite a general drop in point-of-sale transactions, hotel spending in Saudi Arabia increased by 8.5 percent for the week of October 13–19, hitting SR293.8 million ($78.2 million), according to official figures.

Hotel spending was the only industry to rise, while spending in every other sector decreased, according to data from the Saudi Central Bank, or SAMA. POS transactions fell 7.5 percent overall to SR11.3 billion, continuing a downward trajectory following a growth of 2.6 percent in early October.

Spending at petrol stations down 5.7% to SR866.4 million, while spending at restaurants and cafes decreased 5% to SR1.76 billion.

With an 8.6 percent drop to SR1.74 billion, the food and beverage industry lost its top status as the largest share of the POS when considering the highest value of transactions this week. Miscellaneous products and services came next, down 8.3 percent to SR1.3 billion.

Nearly 45% of the week’s total POS value, or SR5.1 billion, came from the top three categories. Riyadh dominated POS transactions, representing 34.7 percent of the total, with spending in the capital reaching SR3.9 billion, recording a decrease of 6.9 percent.

Jeddah followed closely with a 6.8 percent dip to SR1.5 billion, accounting for 13.8 percent of the total, and Dammam came in third at SR587 million, down by 6.3 percent.

Hail saw the biggest decrease in spending, down by 10.3 percent to SR174 million. Abha and Buraidah also experienced declines, with expenditures dipping 8.3 percent and 9.1 percent to SR137 million and SR266.6 million, respectively.

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