About the Fund

Tourism Development Fund was established by Royal Decree in June 2020 to empower one of the Kingdom’s most rapidly growing industries. With USD 4 Bn in capital, TDF aims to facilitate local and international investors’ access to high-potential tourism investments across key destinations in the Kingdom.

The National Tourism Strategy

Anchored by the National Tourism Strategy, the development of Saudi’s tourism sector is driven by a bold ambition to bolster Saudi’s reputation as a top tourism destination in the world. With unwavering government support, the National Tourism Strategy is the cornerstone to achieving the aspirations of the tourism sector in Saudi Arabia.

Vision 2030

Pillars of Vision 2030

A Vibrant Society
Objectives
Strengthen Islamic Values & National Identity
Contribution
Promote KSA as a destination for 37M religious visitors
A Thriving Economy
Objectives
Grow & Diversify the Economy

Increase Employment
Contribution
Contribute ~10% to GDP

Strengthen local private sector to attract FDI

Contribute ~1.6 Mn jobs, driving youth employment
An Ambitious Nation
Objectives
Enhance Government Effectiveness
Contribution
Contribute to government revenues

Value Proposition

The Tourism value proposition of KSA will capitalize on four key strengths to attract tourists

A combination of unique natural assets
A rich cultural heritage
A sustainable destination, protecting nature & local communities
A re-invented tourism journey enabled by technology

Relevant Sites

Building a thriving sector takes more than just capital. The National Tourism Strategy is driven by a strong ecosystem that was created to fulfil its objectives and reshape the Kingdom’s tourism landscape. Positioned at the center of this ecosystem, TDF drives tourism growth by attracting private sector investments and forging partnerships to ensure investors get a unique support system

Vision

Contribute to achieving National Tourism Strategy’s objectives by unlocking opportunities in the tourism value chain for private sector investors, while focusing on long-term sustainability

Mission

To enable investors driving the development of KSA’s tourism sector

Values

At TDF we adhere to our core values that we believe are essential for success

We invest in understanding our partners and develop longstanding relationships. We create lasting impact through empowering partnership
We are always accountable and driven by the highest moral standards. Our loyalty and transparency earn the trust of investors and society at large
We are resilient and find innovative ways to multiply our impact on the community and the economy. We inspire and develop the brightest future for our kingdom’s tourism
We are compassionate supporters, engaging and motivating each other to achieve our objectives. We collaborate as one across boundaries, fostering team spirit and a sense of belonging
We are passionate about the unique beauty of our Kingdom and believe in its potential to enhance and amaze. We are proud to pioneer tourism experiences for our citizens and the world
We combine efficiency and focus to deliver above and beyond expectations. Our critical thinking and professionalism always lead to sustainable, effective solutions

Mandate

Our four overarching objectives

Unlock the full value chain

  • Fund projects that serve underdeveloped areas across the tourism value chain (assets and services)

Develop the economy

  • Strengthening the Kingdom's position as an attractive destination for tourists
  • Ensure all investments drive economic impact (through GDP contribution, increasing jobs, etc.) in line with NTS

Enable private sector investments

  • Provide viable funding options
  • Advisory and access to support services
  • Strengthen the investment case & decrease risk

Preserve capital

  • Focus on long-term sustainability when making investments
  • Returns will be re-injected into the sector to maximize economic impact

Value Proposition

Saudi Arabia presents some of the world’s best tourism investment opportunities. But, in a country that opened its doors to tourists in 2019 and is ripe for development, TDF aims to facilitate investor access to the massive opportunities in tourism.

TDF delivers its value proposition as follows:

Developing financial products that suit the needs of SMEs and large institutions

Making the tourism investment more attractive to both lenders and investors, maximizing the impact on the sector

Support investors by providing access to the entire tourism ecosystem (financial support from TDF, licenses and facilitation, promotion and activation from the Tourism Authority)

Establishing partnerships with public and private lenders to unlock investment potential

Board of Directors

The National Development Fund approved the appointment of five visionary leaders to TDF’s board, bringing a wealth of tourism and investment expertise

H.E. Ahmad Al-Khateeb

Minister of Tourism (Chairman of the Board)

H.E. Ahmad Al-Khateeb

Minister of Tourism (Chairman of the Board)

HH Princess Haifa M Al Saud

Assistant Minister of Strategy and Executive Affairs at the Ministry of Tourism

H.E. Ihsan Abbas Bafakih

Governor of the Real Estate General Authority

Mr. Stephen Groff

Governor of the National Development Fund (NDF)

Mr. Mohammed Al Omran

Vice Chairman at the Tourism Development Fund, Member

Mr. Mohammed Ali AlHokal

Advisory Board Member at Saudi Institute of Internal Auditors

Board of Director Committees

Board Credit Committee
  • HH Princess Haifa AlSaud
  • HE Ihsan Bafakih
  • Mr. Mohammed AlOmran (Chairman)
  • Mr. Mohammed AlHokal
  • Mr. Qusai AlFakhri
Board Risk and Compliance Committee
  • HH Princess Haifa AlSaud
  • Mr. Mohammed AlHokal (Chairman)
  • Mr. Mohammed AlOmran
  • Mr. Ahmed AlRowaily - Independent
Audit Committee
  • HE Ihsan Bafakih (Chairman)
  • Mr. Mohammed AlHokal
  • Mr. Ahmed AlJasser - Independent
  • Mr. Adeeb Abanmi - Independent
Nomination and Remuneration Committee
  • HH Princess Haifa AlSaud (Chairperson)
  • HE Ihsan Bafakih
  • Mr. Ahmed AlRajeh- Independent
  • Mr. Ahmed AlSedais - Independent

Executive Management

An experienced management team to lead on success of the Fund.

Qusai A. Al-Fakhri

Chief Executive Officer

Wahdan Al-Kadi

Chief Commercial Officer

Khalid Al-Rifai

Chief Financial & Investment Officer

Mohammed Al-Romaizan

Chief of Staff and Chief Governance Officer

Ahsan Ali

Chief Risk Officer

For information about TDF’s laws and regulations