Travel & Tourism

Kuwait Touristic plans massive capital increase

This picture taken on May 2, 2021 shows a view of the Kuwait City skyline at sunset. / AFP / YASSER AL-ZAYYAT

DUBAI: Kuwait Touristic Enterprises plans to increase its capital by 250 million dinars ($831.39 million) to reach 300 million, up from 50 million now, as it looks to reinvigorate tourism in the oil-rich country, its chief executive said.

The company is a unit of Kuwait Investment Authority, the Gulf state's sovereign wealth fund.

"Our vision is to bring back the golden age of tourism in Kuwait," CEO Abdelwahab Almarzooq told a news conference, adding that the company plans to execute 95 initiatives and projects costing 380 million dinars over 10 years.





Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (

comments powered by Disqus



Interested in knowing more about this story?

Click here