Riyadh: The Small and Medium Enterprises General Authority (Monsha'at) issued the "SME Monitor" report for Q2, 2023, revealing that the SME ecosystem grew to 1.23 million businesses, a 2.6% increase over Q1.

The report, published in Arabic and English, focused on the Asir region and the significant investment opportunities it offers entrepreneurs thanks to its unique advantages in the tourism, agriculture, and industry sectors.

The report also reviewed the latest venture capital financing figures in the first half of 2023, which witnessed an increase that made the Kingdom of Saudi Arabia come in second in terms of funding and deals compared to its peer MENA markets.

The report also highlighted the tourism sector, one of the promising sectors for SMEs, by underlining the various government initiatives and programs launched to support SMEs.