Arab News, Tue, Jan 02, 2024 | Jamada Al-Aakhirah 20, 1445
Saudi Tourism Development Fund launches center to support SME growth
Saudi Arabia:
Saudi Arabia’s Tourism Development Fund has launched its Tourism Growth Center,
TDF Grow, to support entrepreneurs and small and medium-sized enterprises in the
tourism sector, the state-run SPA news agency said on Monday.
The center aims to drive innovation, nurture
talent, provide appropriate tools and environments for entrepreneurs, and help
them establish tourism facilities.
It aims to offer high-value services and establish
a partner network by creating communication channels with the business sector of
the tourism industry.
By connecting commercial opportunities with
investors and partner institutions across the public and private sectors, the
center will streamline processes to support and empower tourism establishment
owners in the Kingdom to facilitate their expansion and expedite growth,
ultimately attracting new investors.
TDF Grow will launch five pioneering programs that
meet the needs of entrepreneurs and SMEs in various fields in the tourism sector
and will also organize events and workshops.
The center will also feature the Tourism Growth
Accelerator program, which supports SME growth in the tourism sector, and will
train 10 enterprises per month. It includes business development services,
consulting, guidance, and facilitating access to investors.
The program works to graduate 15 SMEs through the
Tourism Growth Camps, which aims to support entrepreneurs in developing their
ideas and projects and consists of three different training camps, as well as
producing 60 successful business models.
Meanwhile, the Restaurants and Cafes Growth
Accelerator, which is dedicated to SMEs in the field of restaurants and cafes,
also offers similar services and aims to graduate 15 enterprises.
The center will also offer various training
programs that provide direct e-learning opportunities in the tourism sector and
will include prominent topics and training sessions on the latest developments
in the sector. The programs will target 100 participants in each session.
These programs aim to enhance innovation and
growth in the tourism sector and provide the necessary support to entrepreneurs
and SMEs in the field.
The center’s launch is part of TDF’s commitment to
stimulating investment in the tourism industry, enhancing the readiness of
entrepreneurs and SMEs, and accelerating the pace of work in the Kingdom’s
tourism sector in line with the National Tourism Strategy and Saudi Vision 2030.