Business29 October, 20252 min read
Saudi Consumers Maintain $3 Billion Weekly Spending Despite Economic Slowdown
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Saudi consumer spending remained above $3 billion weekly despite economic slowdown. Total transaction value declined 4.5% week-on-week, with laundry and jewelry spending dropping most.
4 outlets told this the same way.
Saudi Consumer Spending Trends
Weekly data show Saudi consumer spending softened across most categories but remained in the multi‑billion‑riyal range for key essentials. Food and beverages totaled SR1.79 billion and restaurants and cafes SR1.45 billion, even as both fell week-on-week. The steepest declines were in laundry services, which dropped 10.3% to SR42.58 million, and jewelry, which fell 9.1% to SR390.69 million.
“The steepest spending declines were in laundry services (down 10.3% to SR42.58 million) and jewelry (down 9.1% to SR390.69 million).”
Offsetting pockets of strength appeared in travel and logistics, with airlines up 18.5% to SR57.88 million and freight transport and courier services up 5.6% to SR33.63 million. Major cities mirrored the slowdown: Riyadh’s spending slipped 2.4% to SR4.28 billion across 71.8 million transactions, while Jeddah and Dammam fell 4.9% and 4.7%, respectively. Makkah and Madinah posted smaller declines in consumer spending.
In the broader economic context, financing initiatives continue with new memorandums of understanding aimed at boosting international financial cooperation and trade. These efforts potentially support medium‑term consumer confidence.
Analysis of Weekly Spending Claims
The headline claim of “$3 billion weekly spending” is not directly supported by the provided sources. Neither Arab News nor Arab News PK calculates a national weekly total in US dollars. Instead, both list category-level amounts, such as SR1.79 billion for food and beverages and SR1.45 billion for restaurants and cafes.
They also provide city-level figures, for example, Riyadh with SR4.28 billion. Furthermore, the two West Asian outlets differ on whether the 4.5% weekly change refers to the value of transactions or the number of transactions. This difference makes any aggregate-dollar framing unclear based on these materials alone.
AGBI does not provide consumer-spending totals at all, focusing instead on financing memorandums of understanding. Therefore, AGBI cannot confirm a $3 billion weekly consumer spending figure.
Digital Payment Trends and Policy
Both West Asian sources connect the weekly data to a longer-term shift toward digital payments. Arab News highlights expanding POS infrastructure and alignment with Vision 2030’s cashless economy goals. Arab News PK emphasizes digital inclusion across both large and smaller urban centers.
“The data, tracked weekly by the Saudi Arabian Monetary Authority (SAMA), highlights ongoing growth in digital payment adoption and expanding POS infrastructure beyond major urban centers. This supports Saudi Arabia’s Vision 2030 goals of promoting cashless transactions and advancing the digital economy.”
AGBI adds a complementary macro frame by reporting MoUs that broaden international funding channels via PIF and export credit agencies. This context, while not about payments behavior per se, points to policy and financing backdrops that can underpin digital and economic initiatives.
Consumer Spending and Market Trends
Category details indicate consumers are prioritizing essentials amid volatility. Discretionary and services categories show sharper pullbacks. Essentials like food and beverages (SR1.79 billion) and restaurants and cafes (SR1.45 billion) remain large despite weekly declines.
Laundry (-10.3%) and jewelry (-9.1%) saw the steepest drops. In contrast, the rebound in airlines (+18.5%) and freight/courier services (+5.6%) suggests resurgent travel and logistics activity even as overall transactions and values eased. Macro-finance developments reported by AGBI—including PIF’s MoU with UKEF and a separate $3 billion SACE-linked MoU—sit outside consumer metrics but underscore active external funding channels alongside the domestic spending backdrop.
