Kuwait, 29 January, 2025 : Kuwait’s consumer spending reached a historic high of 47.81 billion Kuwaiti dinars (KD) in 2024, a 4.4% increase from the previous year, according to data from the Central Bank of Kuwait.
Point-of-sale (POS) transactions, both domestic and international, surged by 8.02% to reach KD 18.92 billion, reflecting the growing use of card-based payments. Meanwhile, ATM withdrawals fell by 5.93%, totaling KD 10.08 billion, signaling a shift away from cash transactions.
E-commerce also saw significant growth, with electronic payments totaling KD 18.8 billion, marking a 7.12% increase from 2023. The data highlights Kuwait’s shift towards digital payments, driven by the increasing adoption of e-commerce and POS systems.
This record consumer spending showcases the resilience of Kuwait’s economy and the ongoing modernization of payment methods.
Source : www.zawya.comRelated Posts
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