The first Saudi-owned duty-free operator is Duty Free (Al Waha), a retail travel company that was unveiled by the Public Investment Fund (PIF). By rerouting a larger percentage of travel expenditures back into the Saudi economy, the company will become a national leader in travel retail.
In a few chosen places in Saudi Arabia, it will build upscale retail establishments that will sell a wide variety of products, including premium Saudi goods. In addition to in-flight sales, it will also run duty-free stores at airports and look into other retail locations at ports and land border crossings.
Al Waha's opening coincides with a number of significant PIF investments in the travel, aviation, and retail industries, such as King Salman International Airport in Riyadh, which was opened in 2022 and will rank among the biggest airports globally. When the airport's development is finished, it will be able to handle 120 million passengers a year and include a large number of shops and eateries.
Saudi Arabia's new national airline, Riyadh Air, was also introduced by the PIF with the goal of establishing Riyadh as a major international travel hub.
