Saudi Arabia is strengthening its startup ecosystem in the tourism sector with the launch of three new initiatives by the Tourism Development Fund. The programs, Grow Tourism Incubator, Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator, are designed to nurture early-stage ventures and encourage investment across the Kingdom’s fast-growing travel economy.
These efforts are part of the Fund’s non-financial arm, TDF Grow, which supports the development of scalable tourism businesses through a comprehensive ten-month incubation program. Participants gain access to shared workspaces, legal, marketing, and logistical support, as well as technical and administrative services. The announcement reflects Saudi Arabia’s ongoing push to diversify its economy and reduce its reliance on oil, a core objective of the Vision 2030 agenda.
In 2024, the Kingdom welcomed 116 million visitors, surpassing its target for the second consecutive year. With a new goal of 150 million annual tourists by 2030, the government is investing heavily in building a robust tourism infrastructure supported by local innovation and international expertise.
The Grow Tourism Incubator opened registration on June 24 for early-stage startups and will run for 10 months. Participants will receive workspace access, administrative and legal support, and tailored business training. The Tourism Hackathons and Bootcamps initiative is focused on regional development, with activities taking place in Asir, Al-Ahsa, and Madinah. Innovators will have the opportunity to transform ideas into prototypes through hands-on guidance and technical support.
Meanwhile, the Grow Tourism Accelerator continues to attract both Saudi and international participants, offering a three-month program designed to prepare startups for scaling and investment. Ninety-nine participants have already graduated from previous editions. TDF reports that over 8,800 beneficiaries have accessed its non-financial programs, helping to build a more competitive and diversified tourism sector.
As Saudi Arabia opens its doors to global visitors and new business models, international startups have a unique opportunity to tap into one of the world’s fastest-growing tourism markets. HARIS Consultancy supports emerging ventures in navigating the Saudi ecosystem, whether by joining accelerators, forging local partnerships, or adapting to regulatory frameworks. Get in touch with us to unlock your startup’s potential in Saudi Arabia’s thriving tourism economy.
