Gold Market in Saudi Arabia
Saudi Arabia applies 15% VAT on jewelry — significantly higher than UAE's 5%. This makes buying gold in Dubai a better deal for Saudi visitors.
Saudi Arabia vs Dubai — Gold Price Comparison
| Factor | Dubai (UAE) | Saudi Arabia |
|---|---|---|
| 22K per gram | AED 514.75 | SAR 193.55 |
| VAT on jewelry | 5% | 15% |
| Tourist VAT refund | Yes | Varies |
| Main gold market | Dubai Gold Souk (380+ shops) | Riyadh Gold Market / Jeddah Gold Souk |
| Import duty on gold | 0% | Varies |