Tourism Development Fund Drives Investment at FHS
RIYADH, Saudi Arabia — The Tourism Development Fund participated as an enabling sponsor at the Future Hospitality Summit, held from April 29 to May 1 in Riyadh. The event brought together major stakeholders from the tourism and hospitality sectors, including investors, policymakers, and entrepreneurs.
Supporting Investment and Growth
During the summit, the Fund showcased its range of financing and non-financing solutions tailored to support tourism investment. These efforts are part of a broader strategy to position tourism as a driver of economic diversification and sustainable development in Saudi Arabia. By enabling investment in hospitality infrastructure and services, the Fund aims to attract local and international capital.
Bader Al-Harbash, CEO of the Strategy Sector at the Fund, participated in a panel titled “Scenes of Success: The Flourishing Entertainment Scene in Saudi Arabia to Address the Changing Demographics.” He emphasized the Fund’s role in facilitating investments in entertainment and tourism, particularly through initiatives aligned with Saudi tourism seasons across the Kingdom.
Enabling Strategic Partnerships
The Fund also played a key role in facilitating a new agreement between IHG Hotels & Resorts and Rafad Real Estate Company during the summit. This partnership reflects the Fund’s strategy of connecting investors and operators to accelerate sectoral growth and sustainability.
According to the UN Tourism Barometer, Saudi Arabia topped global charts in 2023 for tourism growth, reaching 100 million visitors—seven years ahead of the Vision 2030 target. That target has now been raised to 150 million by 2030, with tourism spending reaching SAR 135 billion last year.
The Fund’s active participation underscores its pivotal role in shaping the Kingdom’s tourism landscape through financing solutions, strategic matchmaking, and long-term investment planning.
