Saudi consumer spending rose 6.8% year on year to SR425 billion in Q1 2026, covering point-of-sale transactions, cash withdrawals and e-commerce purchases. Total 2025 spending through official payment channels was SR1.57 trillion. For context in the same report: Q1 GDP grew 3%, non-oil activity 2.9%, inflation ran at 1.8%, and the IMF forecasts 1.7% growth for 2026 and 5.5% for 2027.
SR425 billion in a single quarter, growing nearly 5% faster than prices. The Saudi consumer is contributing more to this economy than the GDP indicates.
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Barq crosses the billion
Digital payments company barq closed a Series A worth more than $329.5 million, the largest Series A round in Saudi Arabia and one of the largest fintech rounds in the region, lifting its valuation to $1.85 billion and taking it into the unicorn club. Its wallet has passed 10 million users after reaching 7 million in its first year of operation, a year in which it recorded more than 500 million transactions worth SAR 73 billion and issued more than 6.5 million digital payment cards, while SAMA Governor Ayman Al-Sayari, speaking at Money20/20, said the number of fintech companies reached 371 by the end of August 2026, digital payments made up 85% of total payments in the Kingdom at the end of 2025, and cumulative fintech investment passed SAR 30 billion by the end of H1 2026.
A wallet that processed SAR 73 billion in its first year and is now valued at $1.85 billion demonstrates what happens when a payment app stops being the one people try and becomes a trusted platform for storing funds.
Sixteen countries become twenty-four
The Riyadh-based Digital Cooperation Organization approved 8 countries as membership candidates — Albania, Azerbaijan, Kazakhstan, Kenya, Lebanon, Palestine, Syria and Zambia — with Tajikistan approved as an associate member, taking the organization from 16 members to 24 on accession and covering roughly 980 million people, about 12% of the global population. The DCO launched in 2020 with 5 founding countries and is working to a 2025–2028 agenda.
The expansion from 5 founding countries in 2020 to 24, now representing approximately 12% of the global population, demonstrates that standards are being set collectively. The rules on data and cross-border digital trade are determined by those who participate.
SR 180M to keep the machines running
Al-Moammar Information Systems (MIS) was awarded a SR179.8M contract by King Saud Medical City covering maintenance and repair of medical devices and equipment together with IT works and services.
This is recurring revenue in a quarter when project revenue is under pressure. If your business is capex-dependent, the strategic question this award poses is what part of your offering could be sold as an annual service instead.
