Biban Forum 23 discusses importance of SMEs in tourism sector

Riyadh, Regional Director for Innovation, Education and Investment at the World Tourism Organization (WTO), Luis Nicolás Barrios, said that the organization has raised $214 million to finance startups, adding that there are many challenges facing the organization in supporting small and medium-sized companies, including the competition that exists in tourism, especially as the organization works to assist and support member states to allow competition in this field.

Barrios indicated, during his participation in Biban Forum 23 activities, that WTO has developed a program called the Digital Future, which aims to reach two million small and medium businesses within three years, through 166 member states of the organization to cover five regions and 22 countries.

The WTO official underlined the importance of emerging, small and medium companies in the tourism sector, given the sector’s 6.1% contribution to global output, which used to be 10.2%, before the damage that befell these companies as a result of the Coronavirus.

Source: Saudi Press Agency