London, November 9, 2024 – In a significant move to enhance Saudi Arabia’s hospitality and tourism offerings, the Tourism Development Fund (TDF) has entered into a landmark partnership with Dusit International. The Memorandum of Understanding (MoU) was signed today at the prestigious World Travel Market, marking a key milestone in the Kingdom’s efforts to transform its tourism sector and position Saudi Arabia as a premier global destination.
This collaboration is a pivotal step in advancing the goals set out in Saudi Vision 2030 and aligns closely with the country’s National Tourism Strategy, which aims to diversify the economy and establish Saudi Arabia as a major player in global tourism. Under this strategic agreement, TDF and Dusit International will work together to develop a series of luxury hotels and resorts across the Kingdom, contributing to the vision of creating world-class tourism destinations that offer unparalleled experiences.
In a statement issued by TDF, CEO Qusai Al-Fakhri emphasized the significance of the MoU, calling it a "pivotal milestone" in the Kingdom’s ambitious plan to attract global partners and establish Saudi Arabia as a unique and sustainable tourism destination. "This collaboration with Dusit International will help bring our vision to life by adding a new layer of sophistication and luxury to our tourism landscape," Al-Fakhri said. "We are committed to unlocking the full potential of Saudi Arabia’s tourism sector, and this partnership is a key part of that vision. By working with a recognized leader in global hospitality, we aim to set new standards for the Kingdom’s tourism offerings and create destinations that will leave a lasting impact on visitors and stakeholders alike."
The partnership underscores Saudi Arabia’s ambition to offer a diverse range of premium accommodations that cater to a wide array of international travelers. By combining Dusit International's global expertise in hospitality with TDF's focus on sustainable tourism development, the collaboration is poised to reshape the country’s luxury tourism landscape.
For Dusit International, this partnership represents an exciting opportunity to deepen its presence in the Middle East, with Saudi Arabia positioned as a key market for growth. Suphajee Suthumpun, Group CEO of Dusit International, expressed the company’s enthusiasm about the collaboration, highlighting the strategic importance of Saudi Arabia within the company’s broader growth plans. “Saudi Arabia is a key focus for our expansion, and this partnership with the Tourism Development Fund opens up invaluable opportunities to invest in high-potential projects across the Kingdom,” Suthumpun said. “By working closely with TDF, we aim to contribute to the realization of Saudi Arabia’s National Tourism Strategy and to offer exceptional hotel experiences that bring enduring value to all stakeholders.”
Dusit International is known for its luxury hotels, resorts, and residences, renowned for their commitment to high-end service, distinctive cultural design, and sustainability practices. The company’s experience in developing unique hospitality concepts aligns seamlessly with Saudi Arabia’s vision of creating diverse, world-class destinations that reflect the Kingdom’s rich heritage while embracing modern luxury.
Saudi Arabia’s National Tourism Strategy, which aims to attract 100 million visitors annually by 2030, focuses heavily on developing sustainable tourism destinations that not only promote the Kingdom's cultural heritage but also create opportunities for economic diversification and job creation. With investments like this partnership with Dusit International, the country is setting the stage for a vibrant, future-proof tourism industry that will contribute to long-term growth and prosperity.
Through this collaboration, TDF and Dusit International aim to develop exceptional hospitality experiences that will enhance Saudi Arabia’s global appeal and bring new levels of luxury, comfort, and innovation to the Kingdom’s tourism offerings. As Saudi Arabia continues its ambitious journey towards becoming a must-visit destination for global travelers, this partnership with Dusit International is poised to be a significant contributor to the realization of that vision.