The Tourism Development Fund and IMPACT46 have jointly invested in Al Matar Group for Travel and Tourism to enhance Saudi Arabia's tourism sector and foster innovation in line with Vision 2030.

Information on the Target

Al Matar Group for Travel and Tourism, founded in 2019, specializes in providing technical travel solutions for both individuals and businesses. The company has established a strong presence in the industry, offering a diverse range of services, including hotel bookings, furnished apartments, and global flight options. Its innovative platform, the "Almatar App," has achieved exceptional success within the Saudi market and has recently been recognized by the billionaire companies program, positioning the group for future expansion into international markets.

Industry Overview in Saudi Arabia

The tourism industry in Saudi Arabia has experienced significant transformation in recent years, driven by the Kingdom's Vision 2030, which aims to diversify the economy beyond oil dependency. The government has implemented various strategies to enhance tourism, including investments in infrastructure, the establishment of new attractions, and the promotion of cultural heritage. As a result, the tourism sector is anticipated to play an integral role in contributing to national GDP and creating employment opportunities.

With approximately 35 million tourists expected by 2030, there is a growing demand for improved hospitality services and accommodations. This surge is leading to an increase in both domestic