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Saturday , March 25 2023

Big jump in travel spending

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KUWAIT CITY, Jan 3: Local spending on travel witnessed a record jump during the first nine months of 2022, reaching KD 3.14 billion by the end of the third quarter, with a growth of 97.5 percent compared to the same period in 2021 when citizens’ spending on travel amounted to about KD 1.59 billion, reports Al-Anba daily. According to the preliminary statement on payments data issued by the Central Bank of Kuwait, the big jump in local spending on travel during the nine-month period last year is the highest since the outbreak of the COVID- 19 pandemic and the imposition of many restrictions on citizens’ travel to many countries of the world preferred by Kuwaitis.

In detail, the spending of citizens on travel during the first quarter of 2022 amounted to about KD 1.13 billion, and in the second quarter KD 835 million. As for the third quarter, it witnessed a steady increase because it coincided with the summer months during which citizens resort to travel, and their spending amounted to about KD 1.17 billion. The expenditure of Kuwaitis on tourism during 2021 amounted to KD 2.3 billion.

It is noteworthy that spending on travel, according to the statistics by the Central Bank of Kuwait, is not limited to tourism and work trips for citizens and others, but also includes treatment abroad, overseas study, official trips, and others.

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