Saudi Arabia

Saudi Arabia

General Information

  • Population 34.8m
  • Population 15 + 26.2m
  • Online Population 33.3m
  • Area 2,149,690 km2
  • Currency SAR
  • GDP 701.5bn USD
  • GDP per Capita 20,178 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"41"},{"label":"Cash-based payments","value":"17"},{"label":"Bank transfer","value":"11"},{"label":"Wallets","value":"16"},{"label":"Other","value":"15"}]
Banked population
  • Saudi Arabia 72%
  • Middle East & Africa 48%
  • World 67%
Credit card penetration
  • Saudi Arabia 16%
  • Middle East & Africa 12%
  • World 19%
Internet penetration
  • Saudi Arabia 96%
  • Middle East & Africa 45%
  • World 62%
Smartphone penetration
  • Saudi Arabia 80%
  • Middle East & Africa 65%
  • World 70%

In Saudi Arabia the growth in e-commerce has been pushed by a high level of internet penetration, a very high income level, good logistics – especially in the cities – and a high level of social media usage.

Saudi Arabia experiences a hybrid consumer culture. Shoppers are as equally fond of bricks-and-mortar stores as they are of their online versions and swap back and forth between them.

Like many other countries in 2021, Saudi Arabia started charging VAT on companies providing digital services and content to users within the kingdom.

Saudi Arabia’s economy fell by 4.1% in 2020 but is set to grow by 2.7% in 2021 according to the IMF, and 4% in 2022. Meanwhile inflation reached a high of 3.4% in 2020 and is set to fall to 2.7% in 2021 and 2% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 12.8
2022 14.7
2023 16.6
2024 18.6
2025 20.4
E-Commerce spending per capita ($US)
2021 362
2022 409
2023 458
2024 504
2025 549
E-Commerce spending as % of GDP
2021 1.7
2022 1.9
2023 2.0
2024 2.2
2025 2.3

Saudi Arabia

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: NA | 32%
  2. Electrical Goods: NA | 17%
  3. Clothing & Footwear: NA | 12%
  4. Health & Beauty: NA | 12%
  5. Food & drink: NA | 11%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 40%
  2. Value of cross-border e-commerce ($US billion) – 4.6
  3. % of online shoppers who have shopped cross-border – NA

Top 3 cross-border shopping origin markets

  1. China: 46%
  2. USA: 20%
  3. UAE: 10%
E-commerce % of total retail
  • Saudi Arabia 2%
  • Middle East & Africa 3.0%
  • World 20%
E-commerce completed on a mobile device
  • Saudi Arabia 65%
  • Middle East & Africa 53%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
[{"label":"Visa","value":"29"},{"label":"Mastercard","value":"24"},{"label":"Local Schemes","value":"47"}]
  • E-commerce market size ($US billion) 11.5bn USD
  • E-Commerce spending per capita ($US) 330 USD
  • E-commerce spending as % of GDP 1.7%

Saudi Arabia

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High CASHU Type Wallet Regions Middle East & Africa Market relevance Medium OneCard Type Wallet Regions Asia Pacific, Middle East & Africa Market relevance Medium SADAD Type Bank transfer, Buy Now, Pay Later Regions Middle East & Africa Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 NETELLER Type Wallet Regions Asia Pacific + 5 Splitit Type Instalments Regions Asia Pacific + 5

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