Saudi Arabia’s Tourism Development Fund (TDF) has launched the Tourism Growth Center “TDF Grow” in order to support entrepreneurs and small- to medium-sized enterprises in the tourism sector.
The new center intends to drive innovation, nurture talent, provide appropriate tools and environments for entrepreneurs, and help them establish tourism facilities.
The Tourism Growth Center’s objective includes offering high-value services and establishing a partner network through effective communication channels with the business sector of the tourism industry.
According to the statement, “By connecting commercial opportunities with investors and partner institutions across public and private sectors, it streamlines processes to support and empower tourism establishment owners in the Kingdom. This aims to facilitate their expansion and expedite growth, ultimately attracting new investors.”
The Tourism Growth Center will launch five programs that meet the needs of entrepreneurs and small to medium-sized enterprises in various fields in the tourism sector.
The new center’s launch is part of the Tourism Development Fund’s commitment to stimulating investment in the tourism industry, enhancing the readiness of entrepreneurs and small to medium-sized enterprises, and supporting them with programs and services.
“Further, it helps to accelerate the pace of work in the Kingdom’s tourism sector in line with the National Tourism Strategy and Saudi Vision 2030,” as per the statement.
Earlier this year, the Saudi Tourism Development Fund (TDF) signed a Memorandum of Understanding (MoU) with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the Kingdom.
