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Qatar taps SMEs to fuel tourism growth

Doha, April 6, 2014

Qatar Development Bank (QDB) has joined hands with Qatar Tourism Authority (QTA) to help small and medium enterprises in the country to make investments in the tourism sector.

The initiative is aimed at helping them tap the business opportunities in key sectors such as luxury dhow dining cruise, luxury coach, 4x4 leasing company, MICE and Events DMC, Ticketing and Mobile Information Centers, SME Cottage Markets.

Abdulaziz bin Nasser Al Khalifa, the CEO of QDB, said: "We invite the private sector to take part in these opportunities we are offering in collaboration with QTA. These opportunities have been identified after studying the existing gaps in the tourism market and work to turn them into investment opportunities."    

"This initiative comes within QDB's objective to contribute directly to the growth and diversification of Qatar’s private sector by offering an integrated array of financial and non-financial products and services which assure sustainable and success projects," stated Al Khalifa.

QTA's chairman Issa Al Muhanadi said this partnership with QDB is a great example of co-operation between the private and public sectors.

"The initiative falls is line with Qatar National Tourism Sector Strategy 2030 which plays a vital role in facilitating the objective we set out to reach of a sustainable tourism sector to position Qatar as a favourite tourist destination regionally and internationally," he noted.

According to him, these projects offer a great opportunity for developers, operators and investors in the tourism sector to be part of Qatar’s rapid economic expansion.

QDB said under the scheme it will offer qualified companies loans with low interest rates and long term financing, in addition to support from QTA in obtaining needed licenses, priority in participation in activities organized by QTA and enhance their presence through QTA’s website and social media platforms.

Additionally, it is worth mentioning that tourism has been identified as a priority sector by the Qatari government and accordingly QTA is anticipating the tourism sector to account for 3.1 per cent of the GDP by 2030. -TradeArabia News Service




Tags: Qatar | tourism | SME |

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