Salah Khashoggi, an expert and economic analyst, described the spending rate of Saudi youth as “very high” in contrast to low savings.
Khashoggi said in a statement to Al-Arabiya TV: “The consumer culture of black youth is very popular and far exceeds financial awareness.”
He said that the savings rate in Saudi Arabia reaches 2.4%, and as part of the Vision 2030 it should reach 10%, noting that there are countries in the G20 in which this figure reaches 30%.
He expressed his admiration for the person who had a job and said that he could not save, asking, “When you were a student, you received a reward of 1,000 riyals, today you have multiplied this number by 4, 5, or 6 times, so what ? is it different?”