QDB to support tourism start-ups.
(QDB) will fund and assist four start-up projects in tourism, including a luxury dhow dining cruise company, as the country seeks to redefine its role in the global hospitality sector.
In this regard, the government-owned QDB has entered into an agreement with Qatar Tourism Authority (QTA), in their joint initiatives towards promoting the local tourism industry and as part of Qatar’s National Tourism Sector Strategy (NTSS) 2030.
The companies that will be receiving support are Salem Al Neami and Partners, who will develop a luxury dhow dining cruise company; Doha Bus, which will set up a 4×4 leasing and services company; Q-tickets for the development of a ticketing and mobile information centre; and Informa Tharawat, which will set up a conference and exhibition services company.
“These projects are a major step forward in QTA’s efforts to grow a sustainable tourism sector and solidify Qatar’s position as world class hospitality destination with deep cultural roots,” according to Issa bin Mohamed al-Mohannadi, chairman of QTA.
He said QTA will support these investors by helping secure the necessary licences and offering administrative guidance to help turn their ideas into competitive and attractive companies in Qatar’s growing tourism industry.
“While these opportunities are a critical starting point, there are countless opportunities for Qatari SMEs to find success in tourism and other strategic sectors,” QDB CEO Abdulaziz bin Nasser al-Khalifa said.
He said QDB’s support of NTSS 2030 is part of a wider push to support the development and diversification of Qatar’s vibrant private sector in line with the National Vision 2030.
“QDB will continue to support companies in this sector until entrepreneurs and small and medium enterprises realise their desired growth and build competitive businesses,” he said, adding “QDB will not only support the successful bidders with financing, but with first-class advisory support and services.”
NTSS, which aims to position Qatar as a ‘world-class hub with deep cultural roots, is targeting 7mn tourists annually by 2030 and the strategy is set to increase tourism’s total contribution to the national GDP (gross domestic product) and enhance the total tourist spend in Qatar to nearly $10.7bn.
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