Saudi Launches Own Duty-Free Company to Boost Tourist Spending

Key Points

• Saudi Arabia's Public Investment Fund has launched Al Waha, a new duty-free retailer aimed at boosting tourist spending.
• The initiative is part of Saudi Arabia's broader efforts to enhance its travel and aviation competitiveness, including major expansions at King Salman International Airport.
• Al Waha will explore travel retail opportunities across various locations, with a focus on sustainable revenue generation.

Summary

Saudi Arabia's Public Investment Fund has launched Al Waha, the country's first duty-free company, to enhance tourist spending and support the kingdom's travel and aviation sector. This initiative aligns with Saudi's broader efforts to become more globally competitive, including significant expansions at King Salman International Airport and the launch of Riyadh Air. Al Waha will operate at airports, land border crossings, and seaports, focusing on sustainable travel retail revenue opportunities.