Saudi Arabia’s tourism industry saw an increase in private investment last year as the kingdom pushes ahead with new hotels, luxury projects and entertainment offerings to develop itself into a travel hub.
Funding from the private sector rose to about 14.2 billion Saudi riyals ($3.8 billion) in 2024 from 12 billion in the prior year, with foreign capital accounting for around 40%, according to Tourism Minister Ahmed Al-Khateeb. Saudi Arabia is seeing the strongest interest from abroad from Europe and the US, he added.
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
Read moreDetails
