- Central Bank of Kuwait showed that the bulk of overseas spending in July came through direct purchases at point-of-sale terminals
Kuwaiti citizens and residents spent nearly 5.9 million dinars a day abroad in July, as the peak summer travel season drove a sharp increase in bank card transactions outside Kuwait.
Total spending through bank cards at overseas point-of-sale terminals and ATMs reached approximately 183.7 million dinars in July, up from 129.9 million dinars in June. The increase was 53.8 million dinars, or 41.4 percent, according to official figures.
On a daily basis, overseas card spending rose to about 5.93 million dinars in July, compared with approximately 4.3 million dinars a day in June — an increase of nearly 1.6 million dinars per day.
The figures highlight the strong impact of the summer holiday season on overseas card usage, with July coinciding with the peak period for travel by citizens and residents to international destinations.
Point-of-sale purchases dominate
Data released by the Central Bank of Kuwait showed that the bulk of overseas spending in July came through direct purchases at point-of-sale terminals. POS transactions totaled approximately 159.2 million dinars, equivalent to an average of 5.14 million dinars a day during the month.
Meanwhile, cash withdrawals from ATMs outside Kuwait amounted to approximately 24.5 million dinars, or around 790,000 dinars a day. As a result, the average daily overseas card spending of 5.93 million dinars comprised approximately 5.14 million dinars in direct purchases and 790,000 dinars in cash withdrawals.
