Sales of restaurant and cafe sector through POS increased by 840% during 2023

Data issued by the Central Bank of Saudi Arabia (SAMA) showed that sales of the restaurants and cafes sector increased by 840% during the year 2023, and the growth of hotel sector sales to 14.6 billion riyals.

We note that the sales points sector for the restaurants and cafes sector rose very sharply, and during the year 2016, the total points of sales reached about 9.5 billion riyals, and sales increased during 2017 by 36%, reaching 12.9 billion riyals.

In 2018, sales points increased by about 54% to 19.8 billion riyals, and during 2019 sales to sales points for the restaurants and cafes sector increased by about 49% to 29.5 billion riyals, and in 2020 sales to the restaurants and cafes sector grew by about 36%, reaching 40 billion riyals, and in the year In 2021, sales increased to 62 billion riyals by 56%, and during 2022 sales increased to 78 billion riyals by 26%, and sales during 2023 recorded a value of 89 billion riyals, a growth of 14%.

Sales at points of sale between 2016 and 2023 recorded an increase of 840%, and the restaurants and cafes sector is considered among the highest sectors that have been growing at a high pace during the past period.

During the years 2016 and 2017, sales to the hotel sector were in the range of 6 billion riyals, and sales to sales points increased during the years 2018 and 2019 in the range of 8 billion riyals, and sales decreased during the year 2020 by about 30% due to the Covid 19 crisis during that period, and after 2021 until In 2023, sales at sales points gradually increased to 14.6 billion riyals, a growth rate of 19% compared to the previous year.