The Qatar Tourism Authority (QTA) recently signed a contract with Qatar Development Bank (QDB).
As per the agreement, QTA is to establish the first corporate incubation zone at Qatar Business Incubation Center (QBIC). The agreement falls under QTA’s initiative of supporting tourism start-ups and scale-ups.
The contract between QTA and QDB will drive QBIC’s mission to develop the next QAR 100 million companies in Qatar. This will also encourage entrepreneurs to become private sector investors and address gaps.
HE Issa bin Mohammed Al-Mohannadi, QTA chairman, said: ”One of the ways of achieving this aim is by backing start-ups and scale-ups tourism projects. This is in line with objectives of the National Tourism Sector Strategy 2030 aimed to advance Qatar’s tourism industry and help in diversifying the economy and reducing Qatar’s dependence on its hydrocarbon resources.”
Identified projects include a luxury dhow dining cruise company, a luxury coach company, a 4×4 car leasing company, Small and Medium Enterprises (SMEs), Meetings, Incentives, Conferencing, Exhibitions (MICE) companies, Events Destination Management companies (DMC), and integrated ticking and mobile information centers.