Consumer Spending in Saudi Arabia Surpasses SAR 425 Billion in Q1, Growing by 6.8%

Saudi Central Bank (SAMA) data recorded an increase in total Saudi household consumer spending to SAR 425 billion during the first quarter of 2026, achieving an annual growth of 6.8% compared to the same period last year.

This performance reflects a strong recovery in domestic demand, fueled by rising employment rates among citizens in the private sector as part of Vision 2030 targets, as well as wage growth and limited inflationary pressures that remained at moderate levels during the same period.

The retail, food, restaurant, and fintech sectors were among the primary beneficiaries, amid remarkable growth in digital payments via point-of-sale terminals and e-commerce platforms, driven by the accelerating adoption of Buy Now, Pay Later (BNPL) solutions among young consumers.

Economists believe consumer spending serves as a pivotal pillar supporting non-oil GDP, which the Kingdom aims to boost, noting that the sustainability of this momentum is tied to the trajectory of the labor market and global interest rate decisions that impact local consumer credit costs.