The UAE is harnessing rapid growth in its tourism industry to generate employment, stimulate innovation, and support entrepreneurs through more than AED 33B in national funding initiatives.
Tourism remains a key pillar in the UAE’s economic diversification efforts, making a meaningful contribution to GDP while drawing millions of international visitors each year and boosting sectors such as hospitality, retail, transport, and leisure.
The “Our winter is entrepreneurial” theme of the World’s Coolest Winter campaign showcases how government‑supported funding enables start‑ups and SMEs to participate in this dynamic sector. Through access to capital, training, mentorship, and incubation platforms, these programmes help firms grow sustainably and create jobs nationwide.
Since its inception in 2007, the Khalifa Fund for Enterprise Development has played a pivotal role by financing over 1,200 businesses with more than Dh1.4 billion and helping generate 15,000 jobs. Its start‑up and growth support schemes can cover up to 80 per cent of project expenses and offer flexible repayment plans, aiding industries such as tourism, ICT, healthcare, agri‑tech and other innovative fields.
Dubai’s Mohammed bin Rashid Establishment for SME Development has backed 168 initiatives totalling Dh137 million since 2015 and aims to assist 27,000 Emirati enterprises by 2033. It offers a holistic suite of services including business planning, accelerator programmes, training, marketing support, licensing, financing, and links to government procurement. In 2024, the Hamdan Innovation Incubator helped 66 more entrepreneurs, bringing its total supported start‑ups to 826.
The RUWAD Foundation in Sharjah, operating under the Sharjah Economic Development Department, prioritises strengthening SMEs and Emirati entrepreneurial skills. To date, it has trained 9,724 individuals, funded 106 ventures, and introduced digital platforms that simplify access to finance, events, and innovation opportunities.
Since 2015, the Emirates Development Bank (EDB) has provided Dh30 billion in funding to over 13,500 firms, contributing Dh10 billion to the national GDP. Its EDB350 digital platform streamlines account setup, loan applications, and connections to incubators and mentoring support, helping start‑ups and SMEs expand faster.
Over the past 20 years, the UAE’s tourism industry has expanded consistently, aided by world‑class infrastructure, a secure and varied environment, and major global events like Expo 2020 Dubai, the Abu Dhabi Formula 1 and international cultural festivals.
Through government infrastructure investment paired with entrepreneurial backing, the sector now encompasses luxury hotels, eco‑tourism, adventure travel and cultural attractions, generating thousands of jobs both directly and indirectly each year.
