Hido raises foreign investment to grow Saudi tourism platform

What's the deal? Hido, a Saudi-based local tourism platform, has secured foreign investment to fuel its expansion. The funding round attracted backing from Ben Harburg and Shaddah Studio, marking a vote of confidence in the startup's mission to grow domestic tourism in the kingdom.

Why now? Saudi Arabia is in the midst of a massive push to diversify its economy away from oil, with tourism sitting at the heart of its Vision 2030 strategy. The kingdom aims to attract 150 million visits per year by 2030, creating fertile ground for platforms that help travellers discover local experiences.

Foreign investor interest in Saudi travel-tech startups has been climbing as the country pours billions into mega-projects like NEOM, the Red Sea coast, and AlUla.

What could go wrong? Saudi Arabia's tourism sector is still maturing, and competition is intensifying as more startups and global players enter the market. Hido will need to differentiate itself in a crowded field while scaling quickly enough to justify investor expectations.

The signal: This deal reflects a broader trend of international capital flowing into Saudi Arabia's nascent tourism ecosystem. As the kingdom builds out infrastructure and loosens visa restrictions, early-stage platforms like Hido are positioning themselves to capture demand from both domestic and inbound travellers. Expect more deals like this as Vision 2030 deadlines draw closer.

Read more: decypha.com