In a landmark move to boost the Kingdom’s travel and tourism sector, the Public Investment Fund (PIF) has announced the establishment of Al Waha Duty-Free Company (Al Waha), the first Saudi-owned duty-free operator. This new venture, wholly owned by PIF, aims to revolutionize travel retail in Saudi Arabia, capturing a larger share of passenger spending and enhancing the traveler experience.

A New Era for Saudi Travel Retail

Al Waha will develop luxury retail outlets in strategic locations across the country, offering a curated selection of high-quality merchandise, including unique Saudi products. The company will operate on a duty-free basis at airport outlets, with plans to expand into land border crossings, seaports, and inflight shopping channels. This initiative positions Al Waha as a key player in the growing travel retail industry, aligning with Saudi Arabia’s Vision 2030 goals to diversify the economy and strengthen the tourism sector.

Driving Economic Growth and Tourism

Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, emphasized the company’s mission: “By establishing Al Waha as a national travel retail champion, PIF aims to grow the Saudi travel retail industry and support the Kingdom’s tourism ambitions. Al Waha will deliver a unique traveler experience through diverse product offerings, duty-free operations, and a seamless digital customer journey.”

Al-Assaf also highlighted the significant potential for Saudi Arabia to increase its share of global travel retail spending. With rising visitor numbers and the Kingdom hosting major international events, Al Waha is poised to capitalize on these opportunities, generating sustainable revenues and contributing to economic diversification.

Unlocking Strategic Sectors

The launch of Al Waha underscores PIF’s commitment to unlocking the potential of strategic sectors, driving innovation, and creating new economic opportunities. By fostering a competitive travel retail market, PIF is not only enhancing the traveler experience but also supporting local businesses and showcasing Saudi products on a global stage.

What This Means for Travelers

Travelers can look forward to a premium retail experience at Al Waha outlets, featuring:

  • Luxury and high-quality products, including exclusive Saudi offerings.
  • Duty-free shopping at airports, borders, and seaports.
  • Innovative digital services for a seamless customer journey.

A Vision for the Future

As Saudi Arabia continues to position itself as a global tourism hub, Al Waha Duty-Free represents a significant step forward. By combining luxury retail with cultural authenticity, the company is set to redefine travel retail in the region, creating lasting value for the Saudi economy and unforgettable experiences for visitors.

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