ADFD Champions Sustainable Tourism Investment for Economic Growth Across Partner Nations
The Abu Dhabi Fund for Development emphasises the transformative potential of tourism investment in fostering economic diversification and strengthening local communities on World Tourism Day.
The Abu Dhabi Fund for Development (ADFD) has underscored the significance of sustainable tourism investment as a catalyst for economic diversification and long-term prosperity across its partner countries, coinciding with World Tourism Day celebrations.
Through its financing and investment activities, ADFD supports tourism ventures that integrate cultural and hospitality assets with the essential infrastructure, connectivity and local capabilities required to establish robust destinations. This integrated approach recognises that tourism development extends beyond accommodation and attractions to encompass the broader ecosystem necessary for sustainable regional growth.
Rashed Al Kaabi, Acting Deputy Director General and Executive Director of Investment Sector at ADFD, articulated the fund’s strategic vision: “Investment in tourism can create value across the wider economy, supporting diversification, attracting investment and generating opportunities for local communities. At ADFD, we look at projects through their broader economic impact, supporting the infrastructure and assets that can strengthen destinations and contribute to sustainable growth in our partner countries.”
The fund’s investment portfolio demonstrates this multifaceted approach through several landmark projects. In Egypt, ADFD has invested AED440 million in the Sofitel Legend Pyramids Giza project, strategically positioned near one of the nation’s most culturally significant heritage sites. This development exemplifies how tourism infrastructure can be harmoniously integrated with world-renowned cultural landmarks to enhance both visitor experience and local economic benefit.
Similarly, in Oman, ADFD has supported the development of a comprehensive tourism complex in Salalah, representing an investment of AED764.5 million. Spanning 2.5 million square metres, this ambitious project incorporates hospitality facilities, a marina, coastal development infrastructure, roads and public utilities—demonstrating the holistic approach to destination development that creates employment and diversifies economic opportunities for local communities.
In Morocco, ADFD’s support for the Asilah Museum has strengthened the nation’s cultural infrastructure, preserving and promoting the city’s heritage whilst simultaneously enhancing its tourism appeal and contributing meaningfully to the local economy.
These investments collectively reflect ADFD’s commitment to supporting tourism projects that transcend conventional hospitality development. By connecting tourism ventures with complementary infrastructure, economic activity and grassroots opportunities, ADFD facilitates the emergence of resilient destinations capable of generating sustained growth and prosperity for the communities they serve.
Source: WAM