Kuwaiti Waves Obtains Funding for Expansion
The Waves application is operational in Kuwait, Saudi Arabia, Qatar, and the UAE.
Waves, the Kuwaiti online marketplace of the GCC specializing in the reservation of sea trips, marine activities, and chalets, has managed to secure an undisclosed funding round backed by BNK Capital and Aujan Enterprises.
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Starting the operation in 2021, the founders Abdulrahman Al-Sadoun and Sulaiman Altunaib, plan to expand to new locations such as Dubai and the Eastern Province in the kingdom of Saudi Arabia.
At the moment, the Waves application is operational in Kuwait, Saudi Arabia, Qatar, and the UAE; it provides e-booking for sea excursions, water activities and recreation, and chalets. Further, one can order food and marine equipment, and some of the goods are delivered on board the yacht or to the boat before setting out.
The GCC plans to launch a unified tourist visa by the end of this year.
The rollout of the unified tourist visa aligns with the GCC 2030 tourism strategy, providing a substantial boost to the sector's contribution to regional GDP.
The number of hotel establishments reached 10,649 by the end of 2022, according to the GCC, with the UAE ranking as the second-largest market after Saudi Arabia. The region also witnessed a remarkable increase in hotel rooms, reaching a total of 674,832 rooms
