Consumer spending in the Kingdom of Saudi Arabia recorded a notable increase of 1%, amounting to 150.1 billion Saudi Riyals during March 2026, compared to 148 billion Riyals in March 2025. This rise reflects an improvement in economic activity and an increase in consumers' purchasing power.
According to data released by the Saudi Arabian Monetary Authority (SAMA), point of sale sales also experienced a 1% increase, reaching approximately 66.1 billion Saudi Riyals in March 2026. These sales were executed through 997.2 million transactions across 2.4 million point of sale devices.
Details of the Event
Despite the increase in consumer spending, cash withdrawals from ATMs saw a decline of 11%, totaling 48.6 billion Saudi Riyals compared to withdrawals in March 2025. These withdrawals were made through 14,500 ATMs, involving 125.1 million transactions. Additionally, the number of issued bank cards reached 66.9 million cards.
Regarding e-commerce, sales through Mada cards rose to 35.4 billion Saudi Riyals in March 2026, marking an increase of 28% compared to the same period last year. These sales were conducted through 200.3 million transactions, indicating a growing reliance on online shopping.
Background & Context
These figures come as part of Saudi Arabia's Vision 2030, which aims to enhance the national economy and diversify income sources. The Saudi government seeks to support the e-commerce sector and provide a conducive environment for economic growth, contributing to increased consumer spending.
Historically, the Kingdom has witnessed significant changes in lifestyle and spending patterns, transitioning from an oil-dependent economy to diversifying through the enhancement of non-oil sectors. This transformation reflects the government's commitment to achieving sustainable development.
Impact & Consequences
This increase in consumer spending could bolster economic growth in the Kingdom, contributing to the creation of new job opportunities and increased investments. Furthermore, the rise in e-commerce sales indicates a shift in consumer behavior towards digital shopping, opening new avenues for trade.
On the other hand, the decline in cash withdrawals may suggest a growing reliance on digital payments, reflecting a shift towards the digital economy that the government aims to promote. This transformation could have positive implications for the financial and banking sectors in the Kingdom.
Regional Significance
As one of the largest economies in the region, any changes in Saudi consumer spending directly impact neighboring countries. Increased spending could enhance regional trade and open doors for economic cooperation among Arab nations.
Moreover, Saudi Arabia's success in promoting e-commerce could serve as a model for other Arab countries seeking to develop their digital sectors and increase reliance on technology in trade.
The positive figures released regarding consumer spending in Saudi Arabia reflect an improvement in the economic situation, heralding a promising future for the national economy and enhancing the Kingdom's position as an economic power in the region.