Building Economic Sustainability through Tourism Project

Petra owners and entrepreneurs acquire essential skills to run their tourism businesses

12 Dec 2019

USAID BEST is working to develop business planning and financial management skills among small and medium tourism enterprise owners around Jordan to improve their capacity to access financing and boost investment in tourism. This month, USAID BEST implemented a three-day workshop on the topic in Petra for local business owners who run restaurants, handicraft shops and other tourism-related enterprises. 

Attendees learned a variety of tools and techniques to assess the feasibility of key business decisions and learned how to articulate and execute sound business plans to present strong loan applications to banks. These skills will increase their chances of obtaining funding and, most importantly, sustaining their tourism enterprises.  

“The workshop came to my attention online and I was initially hesitant to take part as I thought the concepts might be too complex.” said Yassin Muhammad, who launched a tourist hotel in Petra in November with his brother. In fact, he added “I learned a lot about undertaking financial analysis, feasibility studies, business plans, and how vision and analysis for a project works out. Ultimately, the workshop was very accessible to attendees, regardless of experience.”  

This workshop follows from a prior event in Petra in December 2018, where USAID BEST coordinated with the Petra Development Tourism Regional Authority to conduct a business planning and financial management skills for those wishing to develop or grow their business or wishing to establish new ventures and in need of financing. USAID BEST has worked consistently in that regard in Petra since, supporting the launch of Safwa Islamic Bank’s new tourism Islamic financing product in September 2019 and returning now for a second training workshop.