RIYADH: Saudi Arabia’s point-of-sale spending in the education sector saw a weekly rise of 666 percent to reach SR193.26 million ($51.53 million) by June 21, according to official data.
The latest figures from the Saudi Central Bank, known as SAMA, also showed the number of POS transactions in the sector nearly doubled, climbing by 98.1 percent, indicating a significant rebound in consumer activity in this segment.
This sharp increase in educational spending came despite a 1.5 percent decline in the total value of POS transactions across the Kingdom, which dropped from SR11.1 billion to SR10.9 billion over the same period.
The weekly data further showed that transaction values rose in several other sectors, although none matched the scale of growth seen in the education division.
Spending on transportation increased by 28.7 percent, while construction and building materials saw a 25.6 percent uptick in value.
Telecommunication and health sectors both posted gains of 4.8 percent and 16.8 percent, respectively.
The electronics and electric devices segment recorded a 16.8 percent rise in spending value, and the furniture sector grew by 4.4 percent.
Slight increases were also observed in the public utilities and miscellaneous goods and services sectors, which grew by 3.5 percent and 2.1 percent, respectively.
However, several categories experienced downturns. The largest declines in transaction values were reported in the hotels and recreation and culture sectors, which fell by 9.1 percent and 14.7 percent, respectively.
Regionally, Riyadh remained the top city for POS spending, logging over SR3.91 billion in transactions, a 9.1 percent increase from the previous week. Dammam and Khobar also recorded gains, with spending in Dammam up by 8.4 percent and in Khobar by 5.1 percent.
Cities such as Makkah and Madinah recorded double-digit declines, down by 24.2 percent and 11.7 percent, respectively, in total POS transaction values.
Jeddah maintained a steady performance, with spending remaining flat at SR1.6 billion, while Tabuk saw a slight uptick of 3 percent in value.
Spending in restaurants and cafes dropped by 12.8 percent, while beverage and food transactions declined by 7.2 percent.
Jewelry purchases also contracted by 12.8 percent, and clothing and footwear fell by 7.2 percent. Other sectors, such as gas stations and the category, also saw declines of 5.1 percent.
Overall, the total number of POS transactions across all sectors dipped slightly by 0.6 percent week on week, totaling just over 202.5 million transactions during the reporting period.
