Private Aviation Booms in Gulf Countries, Saudi Arabia Leads the Growth

A Vista Global airplane. Asharq Al-Awsat
A Vista Global airplane. Asharq Al-Awsat
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Private Aviation Booms in Gulf Countries, Saudi Arabia Leads the Growth

A Vista Global airplane. Asharq Al-Awsat
A Vista Global airplane. Asharq Al-Awsat

The Arab Gulf region is witnessing a rapid growth in private aviation, led by Saudi Arabia, and followed by the Emirates and Qatar.

Dubai-based company, Vista Global, which specializes in business travel services, said that the Middle East region maintained its position as one of the company’s top markets, during the first quarter of 2023.

Europe is one of the main destinations for flights departing from the Middle East, starting with France, Switzerland and the United Kingdom. In addition, the most frequent routes for regional flights within the Middle East were between the UAE and Saudi Arabia.

The business travel company said that a number of factors stimulated growth during the last period. Those included an increasing demand from India, and private travel from and to the city of Neom in Saudi Arabia.

Moreover, many international companies are opening their regional headquarters in Saudi Arabia, while the Saudi tourism sector is developing at a rapid pace.

In information sent to Asharq Al-Awsat, Vista Global said that Qatar was witnessing an increasing interest in tourism and business after the World Cup. The UAE, for its part, has become an international travel hub linking East and West.

Vista Global expressed optimism about the outlook for the rest of 2023 and beyond.

“We have witnessed tremendous growth in this vital market,” it said, adding that more and more travelers were seeking the services provided by the company.

The information also revealed that the company has expanded its fleet to meet the growing demand, noting that it added 117 net aircraft in 2022, including 85 through the acquisition of Air Hamburg and Jet Edge, expanding scale in the Middle East, Europe and the US.

Vista Global also indicated that the first quarter of 2023 showed exceptional growth in the Middle East, stressing that the region contributed significantly to the overall global growth of the group. It added that combined flights to Dubai International Airports continue to strengthen the Emirate’s position as the number one destination for the company in the GCC countries.

Sales of the group’s subscription products set all-time records during the first quarter of 2023, registering a 55 percent global increase in total flying hours sold under the VistaJet program.

Chief Commercial Officer for Vista Ian Moore said that the first quarter of 2023 saw record results and ground-breaking progress worldwide, reinforcing the company’s position as a global leader in the industry.

He added that the Middle East has been “a major and growing market for several years now.”



PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer

PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer
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PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer

PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer

The Public Investment Fund (PIF) announced on Monday the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator.

Al Waha, a wholly owned PIF company, will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy, said PIF in a statement.

Al Waha will develop luxury retail outlets in select locations across the Kingdom and feature a variety of merchandise including unique, high-quality Saudi products. The company will operate its airport outlets on a duty-free basis, and will explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping.

Head of Consumer Goods and Retail in MENA Investments at PIF Majed Al-Assaf said: “By establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in Saudi Arabia.”

“Al Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty-free operation and a superior digital customer journey,” he added.

There is considerable potential for Saudi Arabia to gain a larger share of travel retail spending in the future, and the continued increase in visitors coming to the country - as well as global events being hosted locally - offer new opportunities to generate sustainable travel retail revenues, he remarked.

PIF is unlocking the capabilities of strategic sectors to diversify the Saudi economy, stressed the statement.