Saudi Arabia | Despite the poisoning cases, consumer spending on restaurants increased
Weather of Arabia - Consumer spending through points of sale in Saudi Arabia during the past week, which ended on May 4, reached its highest level during the last four weeks, as it witnessed a growth of 33%, coinciding with the period of depositing salaries. According to the Financial Analysis Unit of Al-Eqtisadiah newspaper, consumer spending amounted to 14.47 billion riyals, compared to about 10.9 billion riyals in the previous week.
Spending at gas stations increased last week by about 12%, reaching 973 million riyals, which is the highest historical level according to available data. Spending this week was mainly focused on the “Food and Beverages” and “Restaurants and Cafes” sectors, which accounted for about 17% and 14% of total spending, respectively.
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Spending on “food and beverages” grew by an estimated 40%, reaching 2.4 billion riyals, which is the highest level of weekly spending in about 8 weeks, while the “restaurants and cafes” sector grew by an estimated 27%, bringing spending to about 2.1 billion riyals. .
At the city level, spending in the capital, Riyadh, witnessed a growth of 26%, reaching 4.7 billion riyals, while spending in the city of Jeddah reached two billion riyals.
Regarding the average single transaction, during that period it amounted to about 67.5 riyals, with 214.5 million transactions recorded for all sectors.
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Sources:
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