Now, Saudi Tourism Development Fund Reveals Plans to Back Startups and Drive Innovation In The Kingdom’s Tourism Sector, Here Is All You Need To Know

Published on July 10, 2025

As part of Vision 2030 in Saudi Arabia, the kingdom has high aspirations to build a resilient, sustainable Saudi Tourism sector that makes its significant contribution to the economy. One of the key objectives in the plan is to attract 150 million tourists annually in 2030. This is significant in diversifying the economy away from the historic oil dependence, and the Saudi government is being forward-looking in ensuring the development is inclusive and sustainable.

According to the most recent figures, the Kingdom of Saudi Arabia exceeded its annual tourism target for the second consecutive year in 2024 by accommodating 116 million tourists. The attainment reflects the success of the National Tourism Strategy of the Kingdom, whose initial 100-million-tourist target was exceeded before time.

Qusai bin Abdullah Al-Fakhri, CEO of the Tourism Development Fund, pointed to the efforts of the Kingdom to back entrepreneurs and turn innovative ideas into successful tourism projects. “We aim to establish an integrated support system for the needs of businesses at all stages to help them overcome obstacles and speed up development,” said Al-Fakhri. The new initiatives affirm this pledge and aims to support the future of the tourism sector in the Kingdom by stimulating entrepreneurships and innovations.

Overview of New Programmes of TDF for the Entrepreneurs of Tourism

The three flagship programs launched by the Tourism Development Fund are: the Grow Tourism Incubator, the Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator. The programs are specifically designed to promote early-stage businesses by giving them access to the important resources required at this early growth stage, namely mentorship, technical expertise, and exposure to industry experts.

The Grow Saudi Tourism Incubator: Nurturing Early-Stage Ventures

Grow Tourism Incubator is one of the flagship initiatives to promote early-stage tourism start-ups. The 10-month deep immersion programme is in its initial version and open for application until July 17, 2025. Participants receive access to coworking spaces along with general advisory services, legal services, marketing services, logistical services, and office services. The incubator aims to provide an inclusive space where tourism start-ups flourish and grow their ideas successfully.
Aside from providing support in terms of operations, the program provides customized training sessions and special workshops to cater to the tourism industry’s needs. The incubator’s mentorship component is important in its own right because it brings the startups in touch with industry stalwarts and experts who will be able to advise them on the ins and outs of creating and growing a business. This is not just useful for Riyadh-based entrepreneurs but for those from other areas in Saudi Arabia because the program has been made to be available virtually as well as physically at the headquarters of TDF.

Tourism Hackathons and Bootcamps: Fostering Innovation in Core Areas

Another exciting initiative is the Tourism Hackathons and Bootcamps initiative for tourism innovators in three of Saudi’s priority regions: Madinah, Al-Ahsa, and Asir. The initiative seeks to support early-stage tourism ideas by allowing innovators to transform concepts into concrete prototypes.
The five-month initiative will incorporate hackathons and training bootcamps for the purpose of sharpening ideas and getting the participants ready for implementation in the marketplace. The registrations for the program began from July 1, and the entrepreneurs will have until July 22 to register. The initiative offers emerging tourism startups the chance to pitch their ideas, network with peer professionals in the business, and learn the skills essential to take their ideas to the next tier.
Emphasizing regional innovation, the program ensures tourism development is not only focused in the large cities but also extends to the less-represented regions of Saudi Arabia to achieve a more even distribution of tourism-related business opportunities.

The Grow Tourism Accelerator: Scaling Successful Ventures

Building on the success of previous cohorts, the Grow Tourism Accelerator initiative has the explicit goal of helping existing tourism startups grow and scale. The three-month acceleration program has already helped 99 participants to date, and it is one of the most successful programs in the TDF portfolio.
The programme provides the participants with cross-functional mentorship, strategic business advisement, and access to potential investors. The ultimate goal is to position these startups to expand their operations and gain access to new markets. In addition to providing invaluable networking opportunities, the accelerators also attract international businesses, helping to enhance the service quality as a whole in the Saudi tourism sector.
Graduated entrepreneurs from the accelerator have the potential to be future players in the tourism industry in the nation, helping create sustainable businesses and quality services. The initiative is of high value to those startups who are prepared to move from the concept to the scaling stages.

TDF Grow Platform: Enabling 8,800 Beneficiaries

Among the highlights of these initiatives is the TDF Grow platform, which has assisted more than 8,800 beneficiaries to date. The platform is not just giving the financial assistance; it has non-financial initiatives in play focused on enhancing the competitiveness of the tourism industry in Saudi Arabia. The initiatives include equipping the entrepreneurs with the right skills and knowledge to surmount the barriers in the tourism industry.
Via Grow Tourism Incubator and the Grow Tourism Accelerator, the TDF Grow platform has been at the forefront in enabling small and medium enterprises (SMEs) in the tourism sector in Saudi Arabia. Through the issuing of advisory services, access to funding, and networking opportunities with key stakeholders, the platform assists entrepreneurs to cross barriers and monetize ideas successfully.

The Future Outlook: Sustainable Tourism Ecosystem

These efforts position Saudi Arabia as a regional champion of innovation in the tourism field. By supporting entrepreneurs and enabling the development of tourism startups, the Kingdom is building a diversified, sustainable economy that is resilient to shocks in global oil markets.
As the Kingdom works to achieve the Vision 2030 goal of 150 million annual tourists, the efforts of the Tourism Development Fund are essential in helping to create a competitive and resilient tourism system. Not only do the efforts promote Saudi entrepreneurs, but they contribute to the development and expansion of the tourism infrastructure of the kingdom in general in helping to make Saudi one of the favorites of the traveling global community.

The Future Outlook: Sustainable Tourism Ecosystem

The newly launched suite of programs from the Tourism Development Fund is one of the important steps to reach the Vision 2030 objectives of Saudi Arabia. By focusing its priority on empowering early-stage tourism startups and building the complete range of resources and guidance, the Kingdom is laying the groundwork for the tourism sector to be competitive and sustainable. With the advancement of the programs, they will continue to spur innovation, empower entrepreneurs, and catalyze the growth of the diverse and vibrant tourism economy.