Saudi POS spending holds above $3bn as hotel outlays rise: SAMA

RIYADH: Spending on hotel bookings in Saudi Arabia increased by 14 percent in the week ending Jan. 17, keeping total weekly outlays above $3 billion. 

According to the latest data from the Saudi Central Bank, overall POS value dropped 1.4 percent to SR14 billion ($3.73 billion), while the number of transactions recorded a marginal 0.1 percent week-on-week decline to 236.53 million. 

The seven-day period saw mixed changes across sectors, with spending at bakeries and pastry shops rising 2.1 percent to SR281.46 million, while gas stations recorded a 0.8 percent uptick and professional and business services saw a 0.4 percent increase. More