Saudis are keeping more of their summer spending local

Saudis are keeping more of their summer spending local

The NewsSaudi Arabia’s push to keep more spending inside the kingdom appears to be working.Central bank data showed a surge in summer retail and services activity as businesses offer better entertainment options and shopping promotions as alternatives to vacations abroad. Point-of-sale transactions rose 42% between June and August 2024 compared to the same period in 2021, and spending in the first three weeks of June this year has already surpas…