Princess Haifa Al Saud has been appointed Saudi Arabia’s deputy minister of tourism. AP
Princess Haifa Al Saud has been appointed Saudi Arabia’s deputy minister of tourism. AP
Princess Haifa Al Saud has been appointed Saudi Arabia’s deputy minister of tourism. AP
Princess Haifa Al Saud has been appointed Saudi Arabia’s deputy minister of tourism. AP

Princess Haifa Al Saud appointed Saudi Arabia's deputy minister of tourism


Patrick Ryan
  • English
  • Arabic

Princess Haifa Al Saud has been appointed Saudi Arabia’s deputy minister of tourism.

The news was confirmed by the Saudi Press Agency on Sunday.

Princess Haifa told of her happiness at taking on the role on social media.

“I extend my highest thanks and gratitude to the Custodian of the Two Holy Mosques and His Highness, the Crown Prince - may God preserve them - for the generous trust in appointing me as Deputy Minister of Tourism, asking God Almighty to grant me his help and success to achieve the aspirations of our wise leadership,” she said on her Twitter page.

Her appointment comes amid a long-standing tourism drive, focused on bringing major sporting and music events to the country.

In December 2021, Princess Haifa said the Kingdom would host up to 600 per cent more music events from this year.

"People used to travel for nature, and then they started to travel for culture and now it’s about lifestyle," she said at the time.

“It's about meeting other like-minded people from across the globe and sharing what they are passionate about. The creative industries, such as music, is at the very heart of that,” she said.

Saudi's Riyadh Season, which was held from October 2021 to March, was integral to this push, with dozens of concerts held.

A reported crowd of 750,000 people congregated in the Saudi capital's central boulevard district to attend the opening ceremony that had a parade and a performance by Cuban-American rapper Pitbull.

Saudi Arabia is seeking to boost its non-oil revenues under its Vision 2030 plan, centred on a series of multibillion-dollar projects aimed at putting Saudi Arabia on the map for innovation, tech and youth-driven initiatives.

Saudi tourism industry to set Middle East pace

The World Travel and Tourism Council said Saudi Arabia's tourism and travel sector is set to surge at an average of 11 per cent per year for the next decade, making it the fast growing in the Middle East.

By 2032, the travel and tourism sector’s contribution to GDP could approach 635 billion riyals, representing 17.1 per cent of the total economy.

The council forecasts employment in the sector could double in the next 10 years, creating more than 1.4 million jobs, bringing the number of jobs to nearly 3 million.

The projections for both employment and the sector’s contribution to the Kingdom's economy, surpass the goals set out by the government’s Vision 2030 strategic framework.

Princess Haifa key to tourism push

Princess Haifa had previously served on the board of directors of the General Authority of Civil Aviation as a representative of the Saudi Commission for Tourism and National Heritage.

She obtained her bachelor’s degree in business administration from the University of New Haven, US, in 2008, and her master’s in business administration and management from the London Business School in 2017.

She began her career at HSBC Holdings as an analyst, progressing to the role of senior associate of equity sales before leaving in 2012 to join the Ministry of Higher Education as a senior consultant.

She was also named as managing director of the General Sports Authority between 2017 and 2019, with a remit to develop the sports economy. She became secretary general of Formula E Holdings in July 2018.

Princess Haifa has also held the role of vice president of strategy at the SCTH since March 2019. Among her many titles is the position of vice chairwoman of the Saudi Fencing Federation, as well as chairwoman of the women’s committee at the Arab Fencing Federation.

Her passion for fencing prompted her to take on a greater role in supporting the growth of the sport and encouraging female participation.

There are now more than 200 women in Saudi Arabia's national fencing squad.

She is an advocate for a number of causes, serving as a founding member of the Empowerment Hub, a nonprofit organisation launched in 2014 which seeks to raise awareness on issues relating to women’s health.

Princess Haifa recently spoke at the World Economic Forum in her role as the country’s assistant minister of tourism, telling of the country's success in drawing in international visitors.

Saudi Arabia rose 10 places in the WEF 2021 Travel and Tourism Development Index, which ranks the sustainable and resilient development of the sector.

Only the UAE ranked higher in the Middle East region.

The country also opened up to tourists with the launch of an e-visa scheme in 2019.

More than 400,000 visas were issued in the first six months.

Saudi Arabia tourism drive - in pictures

  • Hegra After Dark. Photo: RCU Commission
    Hegra After Dark. Photo: RCU Commission
  • Hegra After Dark launched in November as a new way to experience AlUla. Photo: RCU Commission
    Hegra After Dark launched in November as a new way to experience AlUla. Photo: RCU Commission
  • Saudi Arabian airline flynas launched direct flights from Dubai to AlUla in 2021. Photo: Wikimedia Commons
    Saudi Arabian airline flynas launched direct flights from Dubai to AlUla in 2021. Photo: Wikimedia Commons
  • The new Habitas Al Ula. Photo: Habitas Al Ula
    The new Habitas Al Ula. Photo: Habitas Al Ula
  • Habitas adds 96 much-needed rooms to AlUla's inventory. Photo: Habitas Al Ula
    Habitas adds 96 much-needed rooms to AlUla's inventory. Photo: Habitas Al Ula
  • Luxury eco resort Habitas sits in an ancient oasis in the desert canyons of the Ashar Valley. Photo: Habitas Al Ula
    Luxury eco resort Habitas sits in an ancient oasis in the desert canyons of the Ashar Valley. Photo: Habitas Al Ula
  • Habitas Al Ula. Photo: Habitas Al Ula
    Habitas Al Ula. Photo: Habitas Al Ula
  • A rendering of The St Regis Riyadh, which is due to open in 2022. Photo: Marriott International
    A rendering of The St Regis Riyadh, which is due to open in 2022. Photo: Marriott International
  • Jason Atherton opened a restaurant in the Maraya Hall. Photo: Maraya Social
    Jason Atherton opened a restaurant in the Maraya Hall. Photo: Maraya Social
  • Maraya Social by Jason Atherton. Photo: Maraya Social
    Maraya Social by Jason Atherton. Photo: Maraya Social
  • Jeddah Central Project will involve the development of 5.7 million square metres of land overlooking the Red Sea. Photos: Jeddah Central Project
    Jeddah Central Project will involve the development of 5.7 million square metres of land overlooking the Red Sea. Photos: Jeddah Central Project
  • A sports stadium will act as one of Jeddah Central Project's anchors. Photo: Jeddah Central Project
    A sports stadium will act as one of Jeddah Central Project's anchors. Photo: Jeddah Central Project
  • The development's beach and promenade. Photo: Jeddah Central Project
    The development's beach and promenade. Photo: Jeddah Central Project
  • Saudi actress Fay Fouad walks the red carpet for the closing ceremony of the first Red Sea Film Festival. AFP
    Saudi actress Fay Fouad walks the red carpet for the closing ceremony of the first Red Sea Film Festival. AFP
  • Red Sea Film Festival chairman Mohamed Turki poses with British model Naomi Campbell at the event's closing ceremony. AFP
    Red Sea Film Festival chairman Mohamed Turki poses with British model Naomi Campbell at the event's closing ceremony. AFP
  • Zahrah Al Ghamdi, 'Birth of a Place', 2021. This was one of dozens of works by 63 artists on show in Riyadh as part of the Diriyah Contemporary Art Biennale. Photo: Diriyah Foundation
    Zahrah Al Ghamdi, 'Birth of a Place', 2021. This was one of dozens of works by 63 artists on show in Riyadh as part of the Diriyah Contemporary Art Biennale. Photo: Diriyah Foundation
  • The first Diriyah Contemporary Art Biennale is on until March 2022. Photo: Diriyah Foundation
    The first Diriyah Contemporary Art Biennale is on until March 2022. Photo: Diriyah Foundation
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The specs: Rolls-Royce Cullinan

Price, base: Dh1 million (estimate)

Engine: 6.75-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 563hp @ 5,000rpm

Torque: 850Nm @ 1,600rpm

Fuel economy, combined: 15L / 100km

The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T

Price, base: Dh840,000; Dh120,000

Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo

Transmission: Eight-speed automatic; seven-speed automatic

Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm

Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm

Fuel economy, combined: 9.9L / 100km; 11.6L / 100km

THE%C2%A0SPECS
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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Updated: July 04, 2022, 11:14 AM