Manama: Saudis are believed to have spent around SR40 billion on Eid Al Fitr, the feast that marks the end of the fasting month of Ramadan.
According to economists, cited by local daily Okaz on Thursday, Saudis spent SR10 billion on travel and recreation and SR10 billion on meat for the occasion and social gatherings.
Around SR8 billion were spent on new furniture and SR2 billion on sweets and chocolates, the economists said.
The report did not mention where the other SR10 billion were spent, but highlighted that the average spending by a Saudi family for the three-day occasion was around SR10,000.
Saudis make up two thirds of a total population of 27 million people.
Saudis are known for their lavish receptions and spending large amounts of money on food is often seen as a cultural norm.
The large sum spent on foreign travel was attributed to a wish by Saudi families to enjoy services in areas where the tourism industry boasts high level and services, they added.
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