JEDDAH: Business in restaurants has dropped by 30 percent after the end of the spring break. Fahd Al-Jasser, a restaurant owner, said the sales dropped significantly once school started again. “Most families save their money to spend it during the holidays. Going out and eating at gourmet restaurants to many is celebrating the holidays.
Therefore, by the end of the holiday many do not have enough money to spend on such luxuries,” said Al-Jasser. He also said some restaurants would gain a SR10,000 profit a day during the holiday and now they barely make SR7,000 a day. “The food industry is very consistent. People will never stop wanting food.
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Restaurants are heavily affected by the seasons of the year. Restaurants targeting Saudis will be affected by the Saudi calendar,” said Al-Jasser. He also said the restaurants targeting expatriates were not affected by the spring break at all and are very stable in their profit.
Economist Ahmad Al-Hadi said purchases have increased by 70 percent for Saudi families during the holidays. “Most Saudis do not know how to save money and often find themselves buying things erratically and ending up in great debts. The food business is the most active one in the retail industry. Once the month is over and people receive their salaries again, the sales of restaurants will increase into a more steady flow again,” said Al-Hadi.
