Saudi Consumer Spending Holds Near $3.8B as Education Transactions Double

Saudi Arabia’s consumer spending held near $3.8 billion in the week ending Aug. 22, as education-related transactions more than doubled amid the start of the new academic year, official data showed. The Kingdom’s point-of-sale transactions totaled SR14.17 billion ($3.78 billion) during the monitored week, down a marginal 0.1 percent from the previous week, while the number of transactions fell 4.9 percent to 237.35 million. Speaking to Arab News, economist Talat Hafiz said that the sharp education spending is quite normal, reflecting the strong seasonal effect of the back-to-school period, cautioning that it should be viewed as a positive short-term catalyst rather than a lasting structural increase [Arab News](https://www.arabnews.com).