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The Implementation Support & Follow-up Unit (ISFU), set up by the Diwan of Royal Court to accelerate the Sultanate’s economic diversification, is in advanced negotiations with Oman’s Ministry of Tourism (MoT), Ministry of Finance (MoF) and Royal Oman Police (ROP), to activate a new Tourism Development Fund (TDF). The fund is designed to support the MoT’s goals of driving economic development and creating jobs as more tourism-related projects are realised in the sultanate.
An ISFU report recently stated the importance of a tourism tax and its vital role in raising funds needed to support the tourism industry, in line with Oman’s economic diversification plans. The TDF, set up independently under the MoT, should see a share of tax funds to the ministry increase. Currently, the 4% tourism tax levied on entities in the sultanate is pooled in a government fund managed by the Ministry of Finance (MoF), and distributed among the MoT (60%), ROP (20%) and Ministry of Heritage and Culture (20%). The new TDF proposal will allocate a higher share of the tourism tax revenue to the MoT, according to ISFU.
The special unit is working with all concerned parties to ensure the fund is successfully and faithfully activated, by providing a clear mechanism for the process, based on which requisite approvals will be obtained from the MoF. Accordingly, a bank account under the name of the Tourism Development Fund will be set up by the MoT.
Meanwhile, ISFU is currently engaged in delivering more than 35 projects and initiatives related to tourism in Oman. This includes plans for nature parks, adventure activities, waterfront leisure developments, F&B hubs and activities, e-Visa and e-concierge initiatives, destination marketing efforts, establishment of a Tourism Sector Association, and an Oman Tourism and Convention Bureau.
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ACCEPTxSiddhi Sainani
Content and Communications Manager
Siddhi Sainani is a business and finance writer and a public relations professional with experience across markets in the UAE, Oman, India and the United States.
At Cavendish Maxwell, Siddhi is responsible for crafting research and marketing communications material for the firm’s various stakeholders including clients and government entities. She also leads the public relations activities for the firm, focusing on media outreach, reputation management and spokesperson profiling.
In her previous roles, Siddhi has reported on the financial markets for news outlets, developed institutional research for several institutions, and undertaken corporate communications initiatives for leading firms across sectors such as real estate, finance, banking, audit and advisory, and technology, among others.
Siddhi has a Bachelor of Mass Media degree with a specialisation in journalism and also holds a Post-Graduate Diploma in Integrated Communications covering advertising, marketing and public relations from Xavier Institute of Communications, Mumbai, India.
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BA (Hons) DipM
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Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
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