Kuwaitis Do Not Plan Well For Their Expenditure Outside The Country During Summer Vacation And Public Holidays

Kuwaitis do not plan well for their expenditure outside the country during summer vacation and public holidays, which is reflected in the rate at which they use credit cards to make purchases to the tune of KD 569 million last year

A source disclosed an increase of 6.5 percent in expenses on consumables outside the country compared to the previous year, noting two thirds of the total value of purchases was made through ATM outlets. He added the remaining one third was done through debit cards, while credit cards were used in withdrawing only KD 23 million.

Kuwaitis withdrew KD 1.28 billion from ATMs in 2016; pointing to 6 percent increase from 2015, which was KD 1.2 billion and recording an average increase of KD 72 million per year. The value of cash withdrawals in 2016 rose to KD 428.9 million with an increase of KD 20 million compared to 2015 at 4.9 percent rate. They also used credit and debit cards for purchases worth KD 851.6 million in 2016.

 

SOURCE : ARABTIMES

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