Saudi Tourism Development Fund and IMPACT46 Invest in Travel Group Almatar
The investment, unveiled at the March 2024 Saudi Tourism Forum, aims to scale Almatar's digital travel platforms as the group signals ambitions for a Tadawul listing.
Saudi Arabia's Tourism Development Fund, alongside venture-capital firm IMPACT46, announced an investment agreement with Almatar Travel and Tourism Group, revealed during the Saudi Tourism Forum held in Riyadh from 14-16 March 2024. The agreement aims to strengthen Almatar's capabilities and expand its digital booking platforms.
Almatar, one of the Kingdom's largest home-grown online travel groups, has signalled plans to list on the Saudi Exchange and to lead regional digital tourism by the end of the decade. The backing aligns with Vision 2030 goals to grow domestic and inbound tourism.