Latest news with #QusaiAlFakhri
Arab News
10-07-2025
- Business
- Arab News
Saudi Tourism Development Fund rolls out programs to boost startup growth
RIYADH: Tourism startups and entrepreneurs in Saudi Arabia stand to benefit from three newly launched support initiatives aimed at accelerating innovation, attracting investment, and strengthening the Kingdom's growing travel economy. The Tourism Development Fund has introduced the Grow Tourism Incubator, Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator — a suite of initiatives designed to empower early-stage ventures through TDF Grow, its non-financial enablement arm, according to a press release. Developing a robust tourism landscape is a key pillar of Saudi Arabia's Vision 2030 agenda, as the Kingdom works to diversify its economy and reduce its reliance on oil revenues. The National Tourism Strategy targets 150 million annual visitors by 2030, after surpassing the 100 million milestone ahead of schedule, with official data showing the Kingdom welcomed 116 million tourists in 2024 — exceeding its annual target for the second year in a row. Qusai bin Abdullah Al-Fakhri, CEO of TDF, said: 'We remain committed to empowering entrepreneurs to transform their ideas into promising, impactful projects. We strive to provide a comprehensive support ecosystem that addresses the needs of businesses at every stage, helping them overcome challenges and accelerate their growth.' He added: 'These three programs embody our dedication to practical enablement, offering guidance, support, and connections with key stakeholders, to build a sustainable tourism sector full of opportunity and aligned with the aspirations of Saudi Vision 2030.' The Grow Tourism Incubator Program, now in its first edition, will target early-stage tourism startups. Registration opened on June 24 and will remain open until July 17. The incubator offers a 10-month immersive environment, providing participants with access to shared workspaces, as well as legal, marketing, and logistical support, along with technical and administrative services. The program will also include workshops, specialized training sessions, and mentorship by leading industry experts, delivered both virtually and in person at TDF headquarters — ensuring accessibility for entrepreneurs across the Kingdom. The Tourism Hackathons and Bootcamps program aims to support innovators and early-stage tourism projects, with a focus on three key regions: Asir, Al-Ahsa, and Madinah. Running for five months, the program will allow participants to take part in hackathons followed by training bootcamps, helping them develop their ideas into actionable prototypes. Registrations opened on July 1 and will remain open until July 22. The Grow Tourism Accelerator builds on the success of previous cohorts, which have graduated 99 participants to date. This three-month program is designed to support startups and help them scale within the tourism sector. 'The accelerator also attracts international companies, enriching the diversity of the investment landscape and elevating service quality across the industry. The program provides integrated mentorship, culminating in graduation and connections with potential investors,' the TDF release stated. It added that the TDF Grow platform has supported 8,800 beneficiaries through its non-financial programs and initiatives, helping entrepreneurs and small and medium enterprises accelerate their projects and enhance the competitiveness of Saudi Arabia's tourism sector.
Zawya
10-07-2025
- Business
- Zawya
TDF launches 3 programs to empower tourism entrepreneurs and startups
Riyadh, Saudi Arabia: The Tourism Development Fund (TDF) - the national enabler of Saudi Arabia's tourism sector- has announced the launch of 3 flagship programs designed to support and empower entrepreneurs and startups. The initiatives - the Grow Tourism Incubator, Tourism Hackathons & Bootcamps, and Grow Tourism Accelerator - are delivered through TDF Grow, the Fund's dedicated non-financial enablement arm. This launch reflects TDF's ongoing commitment to its strategy of being close to entrepreneurs and investors in the tourism sector by offering integrated programs that foster a vibrant and sustainable tourism ecosystem. Commenting on the announcement, TDF's CEO, Mr. Qusai bin Abdullah Al-Fakhri, said: "At TDF, we remain committed to empowering entrepreneurs to transform their ideas into promising, impactful projects. We strive to provide a comprehensive support ecosystem that addresses the needs of businesses at every stage, helping them overcome challenges and accelerate their growth. These 3 programs embody our dedication to practical enablement, offering guidance, support, and connections with key stakeholders, to build a sustainable tourism sector full of opportunity and aligned with the aspirations of Saudi Vision 2030." The Grow Tourism Incubator Program, now launching its first edition, targets early-stage tourism startups. Registration opened on June 24, 2025, and continues until July 17, 2025. The incubator offers a ten-month immersive environment, providing participants with access to shared workspaces, legal, marketing, and logistical support, as well as technical and administrative services. The program also includes workshops, specialized training sessions, and mentoring by leading industry experts, delivered both virtually and in person at TDF headquarter, ensuring accessibility for entrepreneurs across Saudi Arabia. To support innovators and early-stage tourism projects, the Tourism Hackathons & Bootcamps Program focuses on three key regions: Asir, Al-Ahsa, and Al -Madinah Al Munawwarah. Over five months, participants take part in hackathons followed by training bootcamps, enabling them to develop their ideas into actionable prototypes. The program offers an interactive environment that combines mentorship, training, and technical support, while also providing direct opportunities to connect with investors and ecosystem partners, fostering innovative projects that advance tourism development at the regional level. Registration opened on July 1, 2025, and remains open until July 22, 2025. Meanwhile, the Grow Tourism Accelerator Program returns in a new edition, building on the success of previous cohorts that have graduated 99 participants to date. This intensive three-month program focuses on supporting startups and enabling them to scale within the tourism sector. The accelerator also attracts international companies, enriching the diversity of the investment landscape and elevating service quality across the industry. The program provides integrated mentorship, culminating in graduation and connections with potential investors. Notably, TDF Grow has already empowered more than 8,800 beneficiaries through its non-financial programs and initiatives, helping entrepreneurs and SMEs accelerate their projects and connect with promising opportunities, strengthening the sector's competitiveness, and expanding its sustainable economic and social impact throughout Saudi Arabia. For more information and to register for TDF Grow programs, please visit: -Ends- About the Tourism Development Fund (TDF) The Tourism Development Fund (TDF) is Saudi Arabia's national enabler of the tourism sector, going beyond financing to drive high-impact investments and enhance the competitiveness of the Saudi's tourism destinations. TDF enables entrepreneurs and tourism businesses with tailored financial solutions and non-financial support programs while attracting local and international investors to develop landmark tourism projects. With a vision to create a dynamic and attractive investment environment, TDF fosters strategic partnerships, supports economic diversification, enriches visitor experiences, and strengthens Saudi Arabia's position as a leading global tourism destination. Committed to advancing the goals of Saudi Vision 2030 and the National Tourism Strategy, TDF remains a trusted partner, working closely with investors and key stakeholders across the sector. For media inquiries, please contact TDF Corporate Communication team: cc@
Zawya
08-07-2025
- Business
- Zawya
TDF opens registration for fourth cohort of 'Tourism Olou' graduate program
Riyadh, Saudi Arabia – The Tourism Development Fund (TDF) has announced the opening of registration for the fourth edition of its flagship 'Tourism Olou' program, a premier graduate training initiative designed to attract exceptional Saudi talent from top local and international universities. The program aims to equip graduates with the skills and experience needed to build successful careers in Saudi Arabia's fast-growing tourism sector, a cornerstone of Saudi Vision 2030. Delivered in partnership with IE University in Spain, the program combines on-the-job training with structured academic and professional development. Participants benefit from a unique blend of theoretical learning and practical application, ensuring they are prepared to meet the evolving needs of both local and global tourism markets. Commenting on the launch of the fourth cohort, TDF CEO Qusai Al-Fakhri said: 'The Tourism Olou program reflects TDF's unwavering commitment to empowering young Saudi talent and fostering a tourism ecosystem led by Saudi women and men. Through this initiative, we continue to invest in minds and skills, in partnership with world-class educational and training institutions, to nurture a generation that will contribute meaningfully to the National Tourism Strategy and Saudi Vision 2030. We take pride in the achievements of previous cohorts and remain confident that the growth of tourism in Saudi Arabia is driven by the passion and determination of its people.' Participants in the program receive a comprehensive set of benefits designed to prepare them for the workforce. These include immersive, hands-on training at TDF headquarters, specialized development courses delivered both in the Kingdom and abroad at leading global academic and training centers, social insurance enrollment, comprehensive medical coverage, monthly rewards, paid annual leave, and opportunities to contribute to strategic projects in the tourism sector. The program is open to graduates from the following majors: finance, accounting, business administration, information technology, tourism, and engineering. The Tourism Olou program is part of a broader suite of initiatives launched by TDF to help deliver the National Tourism Strategy and stimulate investment in the sector by developing a pipeline of highly skilled Saudi professionals. These programs aim to ensure that the Kingdom continues to strengthen its position as a premier global tourism destination by empowering its most valuable asset, its people. About the Tourism Development Fund (TDF) The Tourism Development Fund (TDF) is Saudi Arabia's national enabler of the tourism sector, going beyond financing to drive high-impact investments and enhance the competitiveness of the Saudi's tourism destinations. TDF enables entrepreneurs and tourism businesses with tailored financial solutions and non-financial support programs while attracting local and international investors to develop landmark tourism projects. With a vision to create a dynamic and attractive investment environment, TDF fosters strategic partnerships, supports economic diversification, enriches visitor experiences, and strengthens Saudi Arabia's position as a leading global tourism destination. Committed to advancing the goals of Saudi Vision 2030 and the National Tourism Strategy, TDF remains a trusted partner, working closely with investors and key stakeholders across the sector. For media inquiries, please contact TDF Corporate Communication team: cc@
Trade Arabia
27-05-2025
- Business
- Trade Arabia
Saudi Eastern Province a ‘promising tourism destination'
Saudi Arabia's Eastern Province is one of the most promising destinations on the national tourism map, and enabling high-impact tourism projects in the region will help deliver world-class experiences, a senior official has said. This will also enhance Saudi Arabia's global appeal and contribute to the sector's growth in line with Saudi Vision 2030, said a CEO of the Tourism Development Fund (TDF), Qusai Al-Fakhri, who this week visited several flagship tourism projects in Al Khobar as part of the fund's ongoing efforts to monitor project progress and assess readiness in alignment with the objectives of the National Tourism Strategy. To date, TDF has supported more than 534 tourism projects directly and indirectly through its Tourism Empowerment Program, in partnership with the financial sector. The total value of TDF-enabled projects in Eastern Province has reached approximately SAR10 billion ($2.67 billion), underscoring the fund's commitment to empowering unique destinations that contribute to the goals of Saudi Vision 2030. One of the key destinations being developed by TDF in the region is The Avenues – Khobar, one of the largest mixed-use projects in the Eastern Province. Spanning nearly 200,000 sq m and featuring over 400 hotel rooms, the project marks a significant milestone in integrating luxury hospitality with retail and commercial centres, supporting economic diversification and encouraging investment in the tourism and retail sectors. The visit also included Ajdan Fairmont, which is part of a mixed-use project in Khobar that features a five-star hotel with more than 160 all sea-view rooms managed by the global Fairmont brand, alongside upscale restaurants, cafés, and modern commercial spaces. The project reflects direct investment in improving quality of life, promoting urban sustainability, and stimulating the local economy. Ajdan Bayfront is a comprehensive seafront development covering over 100,000 sq m. It offers a fully integrated experience including retail, dining, and entertainment venues, in addition to a range of hospitality units. The project is expected to boost commercial activity and enhance modern urban lifestyles, aligning with the aspirations of residents and visitors in Al-Khobar. Nobu Hotel & Residences marks the debut of the global Nobu brand in the Eastern Province. The project features more than 160 luxury hospitality units, the renowned Nobu restaurant, and a branded café, delivering a high-end hospitality experience that enriches the luxury tourism scene in the Kingdom. The project represents a major step in elevating contemporary hospitality standards, supported directly by TDF.
Zawya
27-05-2025
- Business
- Zawya
Saudi Eastern Province a ‘promising tourism destination'
Saudi Arabia's Eastern Province is one of the most promising destinations on the national tourism map, and enabling high-impact tourism projects in the region will help deliver world-class experiences, a senior official has said. This will also enhance Saudi Arabia's global appeal and contribute to the sector's growth in line with Saudi Vision 2030, said a CEO of the Tourism Development Fund (TDF), Qusai Al-Fakhri, who this week visited several flagship tourism projects in Al Khobar as part of the fund's ongoing efforts to monitor project progress and assess readiness in alignment with the objectives of the National Tourism Strategy. To date, TDF has supported more than 534 tourism projects directly and indirectly through its Tourism Empowerment Program, in partnership with the financial sector. The total value of TDF-enabled projects in Eastern Province has reached approximately SAR10 billion ($2.67 billion), underscoring the fund's commitment to empowering unique destinations that contribute to the goals of Saudi Vision 2030. One of the key destinations being developed by TDF in the region is The Avenues – Khobar, one of the largest mixed-use projects in the Eastern Province. Spanning nearly 200,000 sq m and featuring over 400 hotel rooms, the project marks a significant milestone in integrating luxury hospitality with retail and commercial centres, supporting economic diversification and encouraging investment in the tourism and retail sectors. The visit also included Ajdan Fairmont, which is part of a mixed-use project in Khobar that features a five-star hotel with more than 160 all sea-view rooms managed by the global Fairmont brand, alongside upscale restaurants, cafés, and modern commercial spaces. The project reflects direct investment in improving quality of life, promoting urban sustainability, and stimulating the local economy. Ajdan Bayfront is a comprehensive seafront development covering over 100,000 sq m. It offers a fully integrated experience including retail, dining, and entertainment venues, in addition to a range of hospitality units. The project is expected to boost commercial activity and enhance modern urban lifestyles, aligning with the aspirations of residents and visitors in Al-Khobar. Nobu Hotel & Residences marks the debut of the global Nobu brand in the Eastern Province. The project features more than 160 luxury hospitality units, the renowned Nobu restaurant, and a branded café, delivering a high-end hospitality experience that enriches the luxury tourism scene in the Kingdom. The project represents a major step in elevating contemporary hospitality standards, supported directly by TDF. 'At TDF, we are committed to supporting projects that drive meaningful impact in the tourism sector and reflect the Kingdom's aspirations for a sustainable and diversified tourism future. By enabling these projects in the Eastern Province, we continue to build unique destinations that enrich the visitor experience and help drive local economic growth,' said Al-Fakhri. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
