Credit card spending by citizens and residents increased by 12.6% during the first nine months of this year, reaching 3.43 billion dinars, compared to 3 billion dinars in the same period of 2023.
According to data from the Central Bank of Kuwait, spending during this period was split between domestic and international purchases. Domestic spending accounted for 63.5% of the total, amounting to 2.18 billion dinars, while international spending represented 36.5%, totaling 1.24 billion dinars.
The total value of POS (Point of Sale) transactions during the first nine months of 2024 was 1.8 billion dinars, marking a 9% increase from 1.65 billion dinars in the same period last year. These transactions were divided as follows: 1.2 billion dinars in Kuwait, and 554.7 million dinars outside Kuwait, reflecting a significant rise in international spending alongside the growth in travel and tourism activities.
Total ATM transactions using credit cards during the first nine months of 2024 amounted to about 442.9 million dinars, up from 396.6 million dinars in 2023, representing an annual growth of 11.6%. These transactions were split between 411 million dinars inside Kuwait and 32 million dinars abroad, indicating a growing demand for cash withdrawals with credit cards locally.
Online credit card transactions reached 1.15 billion dinars during the same period, up from 993 million dinars in 2023, showing a growth of 15.8%. These transactions were distributed as follows: 501.7 million dinars within Kuwait and 655.7 million dinars outside Kuwait, highlighting the increasing use of credit cards for international online purchases.
Credit cards continue to be a popular financial tool, offering numerous benefits to cardholders, making them a preferred choice for both citizens and residents.