- ASFAR is a new Saudi firm under the PIF aimed at spearheading sustainable tourism growth in the Kingdom, led by CEO Dr. Fahad bin Mushayt.
- ASFAR recently launched globally at WTM London, receiving an enthusiastic response for its vision for Saudi tourism.
- ASFAR will now focus on fostering partnerships, attracting co-investors, and showcasing Saudi tourism potential to help drive ambitious development plans.
The newly launched Saudi tourism investment firm ASFAR has ambitious plans to help shape the future of sustainable tourism in the Kingdom. Led by CEO Dr. Fahad bin Mushayt, ASFAR aims to position Saudi Arabia as a global leader in innovative and eco-friendly travel over the coming years.
“Our long-term goal is to contribute to making the Kingdom a pioneer in sustainable tourism,” said Dr. bin Mushayt in an interview with Arab News.
ASFAR, which falls under the umbrella of Saudi Arabia’s prolific Public Investment Fund, has already made waves since its launch in July 2022. Most recently, the company made its debut at the World Travel Market in London as part of the Saudi Tourism Authority stand.
“We brought the immense potential of Saudi Arabia’s promising cities to the forefront and showcased how they are set to become compelling destinations for world travellers,” explained Dr. bin Mushayt.
The ASFAR CEO said the firm received an overwhelmingly positive response at the global industry event, with many expressing interest in participating in Saudi Arabia’s rapidly transforming tourism landscape.
Key ASFAR priorities moving forward include fostering partnerships established in London and collaborating with emerging markets across Europe and Asia to co-invest in Saudi cities ripe for tourism growth.
As the Kingdom works towards its goal of attracting 100 million annual visitors by 2030, ASFAR aims to showcase progress on completed projects and chart an ambitious course for future tourism development.
“ASFAR envisions Saudi Arabia as a globally recognized tourism hub, seamlessly blending tradition and modernity,” said Dr. bin Mushayt. “We are confident Saudi cities will stand out as iconic destinations showcasing the country’s rich heritage and advanced infrastructure.”
With sustainable and innovative tourism firmly in its sights, this new Saudi firm may play a key role in turning the Kingdom into the world’s next must-visit destination.
Source: arabnews
Follow us on Instagram, LinkedIn, and Twitter for startup & business news and inspiring stories of MENA businesses, entrepreneurs, startups, innovators, investors, and change-makers.
To report any issue or error in the story, please email us editor [at] rasmal [dot] com.
