Saudi Arabia POS Weekly Transactions Hit SAR13.4 Billion

Saudi Arabia’s point-of-sale (POS) transactions surged to more than SAR13.39 billion (approximately USD 3.57 billion) during the week of September 22-28, 2024, reflecting a robust 11.9% increase from the previous week’s SAR11.97 billion. The data, released by the Saudi Central Bank (SAMA) in its weekly POS bulletin, shows a total of 207.7 million transactions were processed across the Kingdom, underscoring sustained consumer confidence and economic activity aligned with Vision 2030’s diversification goals.

Context and Background

The POS data provides a real-time snapshot of consumer spending across Saudi Arabia’s expanding non-oil economy. Weekly reports from SAMA serve as a key indicator of domestic demand and economic health. The latest figures cover a period of normal business activity in late September, with no major holidays, suggesting baseline strength in consumer spending. This week’s total of SAR13.39 billion builds on a trend of steadily rising transaction volumes as the Kingdom continues to modernize its financial infrastructure and encourage digital payments.

Key Details

Leading categories included food and beverages, which recorded 51.9 million transactions worth SAR2.15 billion, and restaurants and cafés with 60 million transactions valued at nearly SAR1.99 billion. Clothing and footwear accounted for SAR818 million across 6.6 million transactions, while health transactions reached 8.2 million worth SAR896 million. Fuel stations saw 16.8 million transactions totaling SAR928 million, reflecting consistent mobility demands. A notable sector was entertainment and culture, with 2.9 million transactions worth SAR308 million, highlighting growing leisure spending. Geographically, Riyadh led with 65 million transactions valued at SAR4.5 billion, followed by Jeddah (24.1 million transactions, SAR1.83 billion) and Dammam (8.5 million transactions, SAR659 million). Makkah and Medina also recorded significant activity, driven by religious tourism and local commerce.

Implications

The sustained growth in POS transactions indicates robust non-oil sector performance and consumer confidence, which are critical for Saudi Arabia’s economic diversification under Vision 2030. Rising spending in entertainment, education (SAR100 million), and hotels (SAR239 million) signals successful tourism and quality-of-life initiatives. The data also reinforces the effectiveness of SAMA’s digital payments infrastructure, supporting the goal of a cashless society. For international observers, these figures demonstrate the Kingdom’s economic resilience and the positive impact of government reforms on everyday commerce.

Vision 2030 Alignment

The weekly POS data aligns directly with Vision 2030’s objectives to diversify the economy, boost non-oil revenues, and enhance the quality of life for citizens and residents. The strong performance across sectors from fuel stations to entertainment reflects the successful implementation of initiatives aimed at increasing local spending and attracting international visitors. As Saudi Arabia continues to develop its digital economy and expand its tourism and entertainment sectors, such transactional data will remain a vital barometer of progress toward a sustainable, knowledge-based future.

20 Questions

Q1. What was the total value of POS transactions in Saudi Arabia from September 22 to 28, 2024?

A1. The total value of POS transactions during this period was SAR13,392,037,000 (approximately USD 3.57 billion), as reported by SAMA, marking a significant weekly increase.

Q2. How many POS transactions were processed in Saudi Arabia during that week?

A2. A total of 207,724,000 POS transactions were processed nationwide, reflecting strong consumer activity across various sectors and regions.

Q3. Which sector recorded the highest transaction value?

A3. The food and beverage sector led with transactions worth SAR2,146,237,000, followed closely by restaurants and cafés at SAR1,988,800,000.

Q4. How much did the restaurant and café sector contribute?

A4. Restaurant and café transactions reached 60,038,000, with a value of SAR1,988,800,000, indicating robust dining out and food service activity.

Q5. What was the value of clothing and footwear transactions?

A5. Clothing and footwear transactions totaled 6,568,000 with a value of SAR818,066,000, showing sustained demand in the retail apparel sector.

Q6. How did fuel station transactions perform?

A6. Fuel stations recorded 16,844,000 transactions worth SAR928,067,000, reflecting consistent transportation and mobility patterns.

Q7. What was the value of health sector transactions?

A7. Health sector transactions amounted to 8,219,000 with a value of SAR896,293,000, highlighting ongoing healthcare spending.

Q8. Which city had the highest POS transaction value?

A8. Riyadh recorded the highest POS transaction value at SAR4,498,574,000, from 64,971,000 transactions, leading all cities.

Q9. How much did Jeddah contribute to weekly POS activity?

A9. Jeddah recorded 24,141,000 transactions worth SAR1,829,690,000, making it the second-largest city in both volume and value.

Q10. What was the transaction value in Dammam?

A10. Dammam saw 8,534,000 transactions valued at SAR658,715,000, reflecting strong commercial activity in the Eastern Province.

Q11. How did the entertainment and culture sector perform?

A11. Entertainment and culture transactions totaled 2,871,000 with a value of SAR308,293,000, indicating growing interest in leisure activities.

Q12. What was the value of hotel transactions?

A12. Hotel transactions reached 674,000 with a value of SAR238,909,000, supported by domestic and international tourism initiatives.

Q13. How much was spent on education via POS?

A13. Education transactions totaled 126,000 with a value of SAR100,015,000, reflecting institutional and personal spending on learning.

Q14. What was the value of jewelry transactions?

A14. Jewelry transactions recorded 233,000 with a value of SAR243,937,000, showing luxury goods demand.

Q15. Which region other than major cities showed strong POS activity?

A15. Qassim recorded 4,824,000 transactions worth SAR322,168,000, demonstrating economic vitality beyond main urban centers.

Q16. How many transactions were recorded in Makkah?

A16. Makkah had 8,204,000 transactions worth SAR504,837,000, driven by religious tourism and local commerce.

Q17. What was the value of transportation transactions?

A17. Transportation transactions reached 2,776,000 with a value of SAR741,977,000, reflecting travel and logistics activity.

Q18. How did the previous week compare to September 22-28?

A18. The previous week recorded SAR11,972,276,000, meaning the September 22-28 week saw an increase of approximately SAR1.42 billion or 11.9%.

Q19. Who publishes the weekly POS data?

A19. The Saudi Central Bank (SAMA) publishes the weekly POS bulletin, providing transparent economic indicators aligned with Vision 2030 goals.

Q20. What does the POS data indicate about Saudi Arabia’s economy?

A20. The consistent growth in POS transactions signals strong consumer confidence, a thriving non-oil sector, and successful implementation of digital payment and diversification strategies under Vision 2030.

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