Leveraging its AI-driven platform, Tumodo, a UAE-based business travel startup, aims to revolutionize the travel market in Saudi Arabia as it enters the kingdom.
The co-founder, Vladimir Kokorin, highlighted the platform’s ability to achieve substantial savings for businesses on travel costs while enhancing the overall travel experience. Tumodo aims to secure up to 5% of the Saudi market share, aligning with the country’s rapid growth in the travel sector, driven by mega-projects like The Red Sea and NEOM.
Kokorin emphasized Tumodo’s commitment to introducing a transformative solution in Saudi Arabia, aligning with the nation’s development goals outlined in Saudi Vision 2030. With over 100 partnerships across the MENA region, 400 airlines, and 2 million housing options, Tumodo positions itself as a leader in the business travel industry, striving for a 100% adoption rate.
Tumodo’s AI-powered features, according to Kokorin, contribute to average savings of 35% on business travel costs and streamline trip processes. The platform integrates data science, modern design, and top-notch service to simplify booking processes, enabling businesses to secure the best deals on flights, hotels, and other travel essentials.
The startup’s entry into the Saudi market follows a successful pre-seed funding round, raising $35M from MENA-focused angel investors, according to Arabian Business.
Strategic Expansion in Response to Global Business Travel Surge
This expansion aligns with the surge in business travel activities globally post-pandemic, with the Middle East travel sector expected to grow by 40% by 2026. The increasing globalization of business and the demand for efficient travel solutions are fueling the projection that the global business travel market will exceed $2,500B by 2032.
Kokorin anticipates Tumodo capturing a significant share of this growth, emphasizing the platform’s innovation, cost-saving commitment, and focus on improving the overall business travel experience. In 2022, Saudi Arabia’s travel market saw a 107% increase in gross bookings, and industry forecasts anticipate further growth of 65% by 2026.
