Saudi Arabia Gift Card and Incentive Card Market Size to Hit USD 10.4 Billion by 2033 | CAGR of 12.5%

Saudi Arabia Gift Card and Incentive Card Market Overview

Market Size in 2024: USD 3.3 Billion

Market Size in 2032: USD 10.4 Billion

Market Growth Rate 2025-2032: 12.5%

According to IMARC Group's latest research publication, "Saudi Arabia Gift Card and Incentive Card Market Report by Product (E-Gift Card, Physical Card), Distribution Channel (Online, Offline), Consumer (Individual, Corporate), and Region 2025-2033", The Saudi Arabia gift card and incentive card market size reached USD 3.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 10.4 Billion by 2033, exhibiting a growth rate (CAGR) of 12.5% during 2025-2033.

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How AI is Reshaping the Future of Saudi Arabia Gift Card and Incentive Card Market

• AI is helping retailers and fintechs analyze customer behavior to deliver hyper-personalized gift card offers, boosting redemption rates and customer satisfaction across major platforms like Amazon.sa and STC Pay.​
• Gift card platforms are using AI to automate loyalty point conversions and instant card issuance, making it easier for companies to reward employees and customers with tailored incentives in real time.​
• Smart analytics powered by AI are enabling brands to track redemption patterns and optimize card designs, leading to higher engagement and repeat purchases, especially among younger, tech-savvy shoppers.​
• Government-backed digital transformation schemes, such as Vision 2030, are accelerating the adoption of AI-driven gift card solutions, with new regulations supporting secure, instant, and mobile wallet-enabled transactions.​
• Leading retailers and startups are partnering with AI-powered platforms to launch group-gifting features and multi-currency cards, expanding the reach and flexibility of digital gift cards for both local and cross-border use.

Saudi Arabia Gift Card and Incentive Card Market Trends & Drivers:

One of the biggest growth factors in Saudi Arabia's gift card and incentive card market right now is the surge in digital adoption across both retail and corporate sectors. Leading retailers and e-commerce players are rolling out new online gifting experiences, making it easier for consumers to purchase, share, and redeem cards for a broader range of products and services. Big names like Jarir Bookstore and Noon have expanded digital gift card options, and recent government push towards cashless payments has helped mainstream these solutions. Notably, digital gift card transactions are now accounting for more than 40% of market activity, demonstrating a clear shift from physical gifting to instant, mobile-friendly experiences.

Another key trend is the increasing use of incentive cards by companies to boost employee engagement and loyalty. Large employers in Saudi Arabia, especially in banking, oil and gas, and tech, are using prepaid and branded incentive card programs to reward staff for performance and milestones. These cards are also finding traction in customer loyalty campaigns, with brands reporting that program participants use their cards up to 30% more frequently than traditional rewards systems. Banks and fintech firms are continuously innovating, with the Central Bank streamlining prepaid licensing and compliance requirements, making it more attractive for businesses to launch incentive programs as part of their HR and marketing strategies.

Government initiatives are also fueling market expansion, particularly the Saudi Vision 2030 agenda which prioritizes digital transformation and cashless innovation. The government has actively supported the rollout of digital payment infrastructure and launched regulatory frameworks that encourage wider adoption of e-gifting and prepaid solutions. Recent data from the Saudi Central Bank shows that prepaid card transactions increased by more than 25% this year, reflecting the impact of official support and policy change. Public sector organizations and ministries are now integrating incentive cards into their programs, making them part of citizen rewards, subsidies, and educational grants, further embedding these products in everyday life.

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Saudi Arabia Gift Card and Incentive Card Industry Segmentation:

The report has segmented the market into the following categories:

Product Insights:

• E-Gift Card
• Physical Card

Distribution Channel Insights:

• Online
• Offline

Consumer Insights:

• Individual
• Corporate

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Gift Card and Incentive Card Market

• October 2025: Major retailers deploy predictive AI for real-time reward optimization, boosting engagement rates in e-gift card campaigns across leading e-commerce platforms.
• September 2025: Riyadh Air partners with a global loyalty technology firm, launching next-gen AI-powered digital rewards for frequent travelers and gift card users.​
• August 2025: Saudi fintech startups introduce instant, data-driven gift card issuance through mobile wallets, increasing uptake of digital incentives among young urban consumers.

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