TheVisionary CFOs
Transforming Financethrough INNOVATION & INTEGRITY,2025
AbdullahAlrashed, CFO&Head
ofdelegation ofProgramandBudget
CommitteeatWIPO SAIP-SaudiAuthority forIntellectualProperty
Driving the Future of Finance
CFOsTransforming FinanceThrough Innovation
Financial Leadership at the Crossroads of Innovation and Diplomacy
Inabusinesseradefinedbyrapiddisruptionanddigital acceleration,theroleoftheChiefFinancialOfficeris undergoingaprofoundtransformation.Nolonger confinedtostewardshipandcompliance,today’s visionaryCFOsareemergingasarchitectsofstrategic growth—drivinginnovation,harnessingtechnology,and reshapingthefinancialfunctiontomeetthedemandsof amoreagile,data-drivenworld.
Attheforefrontofthisshiftisanewbreedoffinancial leadershipmarkedbyclarity,foresight,anda willingnesstochallengeconvention.Theseleaders recognizethatfinanceisnolongerjustaboutmanaging costsorprotectingthebottomline.Itisaboutcreating long-termvalue,fosteringcross-functional collaboration,andenablingenterprise-wideagility.The modernCFOoperatesnotbehindthescenes,butasa vitalpartnerinbusinesstransformation.
Innovationinfinancetodayextendsbeyondautomation ordigitaltools.Itinvolvesrethinkingtheentirefinancial ecosystem.VisionaryCFOsareleveragingcloud platforms,AI-drivenanalytics,real-timedashboards, andpredictivemodelingtoelevatedecision-makingand improveresilience.Withthesetools,theyarenotonly improvingreportingaccuracyandoperationalefficiency theyarealsounlockinginsightsthatinfluencestrategic direction.
Thisevolutionisnotmerelytechnologicalitisdeeply human.SuccessfulCFOsarethosewholeadwithboth precisionandperspective,combininganalyticalrigor withemotionalintelligence.Theyarebuildingfinance teamsthatareadaptable,multidisciplinary,andforward-
looking.Andindoingso,theyarecultivatingculturesof innovationthatextendwellbeyondthefinancedepartment.
Inuncertaintimes,theirrolehasbecomeevenmorecritical. Asstewardsofcapitalandchampionsofstrategic investment,CFOsareuniquelypositionedtonavigate volatilitywhilemaintainingalong-termview Whether throughfundinginnovation,enablingsustainablepractices, orguidingmergersandacquisitionswithacleareyeon valuecreation,theirinfluencenowtouchesnearlyevery aspectoforganizationalstrategy
Moreover,visionaryCFOsarehelpingredefinethepurpose offinanceitself.Itisnolongeraback-officefunctionitisa sourceofstrategicinsightandcompetitiveadvantage.They arealigningfinancialgoalswithbroaderbusiness objectives,enablingorganizationstomeasuresuccessnot onlyintermsofprofitabilitybutalsoinimpact,resilience, andinnovationreadiness.
At CIO Business World, we recognize the significance of this shift. Wearehonoredtospotlightthetransformative workofCFOswhoareredefiningfinancialleadershipfor thedigitalage.Theirstoriesareatestamenttotheevolving natureoftheC-suite,wherefinanceleadersarenotonly managingchange—theyareleadingit.
Thisfeatureismorethanareflectionofchangingroles;itis acelebrationofthosewhoareboldenoughtoseefinance notasithasbeen,butasitcouldbe.Theirvisionand executionserveasabenchmarkforothers,remindingus thatinnovationinfinanceisnotadestination,buta disciplineonethatdemandscourage,insight,andtheability toleadwithbothnumbersandvision.
From theEditor’s desk
10 C o v e r S t o r y
Abdullah Alrashed Financial Leadership at the Crossroads of Innovation and Diplomacy
26
34 CFOs Transforming Finance Through Innovation Driving Change, Creating Value
18 THE AI WAKE-UP CALL: Why True Transformation Starts with People, Not Just Technology
22 The Impact of U.S. Tariffs on Global Tourism: A Strategic Analysis -by Dr. Manida Xongmixay-Lau, CHP
30
Paige Arnof-Fenn: Navigating the Intersection of Finance and Marketing to Redefine Entrepreneurship
April, 2025
AbdullahAlrashed, CFO&Headofdelegation ofProgramandBudget CommitteeatWIPO SAIP-SaudiAuthority forIntellectualProperty
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IMy career has been deeply shaped by a commitment to financial excellence, internal control, and strategic leadership across a wide spectrum of industries, including pharmaceu cals, government, financial development, ad intellectual property.
nanerawhereinnovationdefinesthetrajectoryofnationalgrowthandintellectualpropertyhas
becomethecurrencyoftheknowledgeeconomy,theroleoffinancialleadersextendsfarbeyond balancesheets.AbdullahAlrashed,ChiefFinancialOfficeroftheSaudiAuthorityforIntellectual Property(SAIP)andHeadofDelegationfortheProgramandBudgetCommitteeattheWorld IntellectualPropertyOrganization(WIPO),exemplifiesthisevolution.Hisjourneyisatestamentto theprofoundimpactthatvisionaryleadership,strategicfinancialgovernance,andinternational diplomacycanhavewhentheyconvergewithpurpose.
Abdullah'sprofessionalarcisgroundedinapowerfulblendoffinancialprecision,strategicforesight, andadeepcommitmenttopublicservice.Withacareerspanningboththeprivateandpublicsectors, acrossindustriesasdiverseasbanking,pharmaceuticals,taxation,andintellectualproperty,hisstory isoneofdeliberategrowthandtransformativeimpact.Ateveryjuncture,hehasnotonlyelevatedthe institutionshehasservedbuthasalsoreinforcedthecriticallinkbetweenfinancialstewardshipand nationaldevelopment.
BuildingtheFoundation:ACross-IndustryEvolution
Abdullah'sacademicgroundinginfinancebeganwitha Bachelor'sdegreeinBusinessAdministration(Finance) fromKingSaudUniversity.HelaterpursuedaMaster's degreeinAccountingandFinancialServicesfromthe UniversityofHuddersfieldintheUK,adecisionthat markedthebeginningofajourneydefinedbyinternational exposureandrigoroustechnicaltraining.
Hisearlyprofessionalyearssawhimimmersedintheworld ofretailbankingandcustomerserviceattheSaudi InvestmentBank.Thisformativeexperiencelaidthe groundworkforunderstandingfinancialsystemsfromthe groundup,developingnotjusttechnicalacumenbutalsoa customer-focusedapproach—skillsthatwouldbecome increasinglyvaluableasheadvancedinhiscareer.
Hethenmovedintothemanufacturingandindustrialsector, takingonapivotalroleatAljoufCementCompany.Here, hehonedhisexpertiseintreasury,banking,andinvestment management,gainingdeepinsightintocashflow managementandfinancialmodeling.Thisphaseofhis careersawhimdevelopastrategicfinancialplanning mindset—onethatemphasizedlong-termvaluecreationand prudentriskmanagement.
Abdullah'scapabilitiesquicklyelevatedhimtoleadership roles,mostnotablyasChiefFinancialOfficeratSPIMACO –DammamPharma.Steeringthefinancialdirectionofa leadingpharmaceuticalfirmduringaphaseofgrowthand expansionrequiredadelicatebalanceofcostoptimization, capitalallocation,andregulatorycompliance.His leadershipensuredrobustfinancialgovernancewhile reinforcingstakeholderconfidence,settingthestageforhis eventualtransitionintorolesofnationalsignificance.
Abdullah'spivottothepublicsectormarkedacritical turningpointinhiscareer—onewherehisexpertisewould bealignedwithSaudiArabia'sbroadernational transformationgoals.AsDirectorofAccountingatthe GeneralAuthorityofZakatandTax(GAZT),heplayeda centralroleinoverhaulingthecountry'saccounting infrastructure.Underhisstewardship,GAZTbeganthe complexjourneyfromcash-basedaccountingtoaccrualbasedsystems,aligningitspracticeswithbothnational frameworksandinternationalstandardslikeIFRSand IPSAS.
Thisworkwasmorethantechnical;itwastransformational. ItpositionedGAZTattheforefrontoffinancial transparencyandcomplianceintheregionanddeepened Abdullah'sunderstandingofpublicfinancialmanagement, reform,andgovernanceatanationalscale.Hisabilityto driveinstitutionalchange,whilepreservingoperational stability,emergedasadefiningtraitofhisleadershipstyle.
Abdullah'snextrole,asChiefFinancialOfficeratthe NationalDevelopmentFund(NDF),furtherexpandedhis scopeandinfluence.TheNDFisoneoftheKingdom's mostpivotalinstitutions,taskedwithimplementingVision 2030byfundingdevelopmentinitiativesandenabling economicdiversification.AsCFO,Abdullah's responsibilitiesincludedthedesignandexecutionoflongtermfinancialstrategies,riskmanagement,capital allocation,andinter-agencyintegrationacrossnumerous developmentfunds.
Heplayedacriticalroleincreatingsustainableinvestment modelsandpublic-privatepartnershipstructures.AtNDF, hechampioneddigitaltransformation,automatingfinancial reportingsystemsandimprovingtransparencyacross multiplelayersofgovernance.Theseeffortsnotonly enhanceddecision-makingbutalsocreatedablueprintfor financialmodernizationwithintheSaudipublicsector.His contributionstotheNDFallowedhimtorefinealeadership approachthatbalancesprecision,scalability,andvision.
Today,astheChiefFinancialOfficerofSAIP,Abdullah standsatthenexusoffinanceandintellectual property—twodomainsthatareincreasinglyintertwinedin aglobalized,innovation-driveneconomy.SAIPisa cornerstoneintheKingdom'sVision2030ambitions,tasked withdevelopingaworld-classintellectualproperty ecosystem.UnderAbdullah'sfinancialleadership,the organizationhasundergoneasignificanttransformation aimedataligningitsfinancialoperationswithinternational bestpracticesanddrivingperformanceexcellence.
HehasledSAIP'stransitiontoaccrualaccounting,amove thathassignificantlyimprovedfinancialtransparency, reportingaccuracy,andglobalalignment.Byintegrating advancedsystemssuchasERP,hehasautomatedcore financialprocesses,enhancedefficiency,andestablisheda strongcomplianceframeworkthatmeetsglobal benchmarks.
“ “ Balancing financial oversight with strategic and diploma c responsibili es requires both me management and delega on.
HisapproachtofinancialgovernanceatSAIPisdrivenbya dualfocusoninnovationandaccountability.Heplacesa highpremiumonriskmanagementandinternalaudit practices,underpinnedbyhisCIAPart1andPart2 certifications.Thesecredentialsreflectadeepcommitment togovernance,integrity,andfinancialethics—allcrucialfor managingpublicfundsincomplex,high-stakes environments.
ParalleltohisCFOresponsibilities,Abdullahservesas HeadofDelegationfortheProgramandBudgetCommittee (PBC)atWIPO,representingSaudiArabiaononeofthe mostcriticalinternationalplatformsforintellectualproperty governance.ThePBC,constitutedbytheWIPOGeneral Assembly,playsakeyroleinshapingtheorganization's strategicdirection,budgetallocations,andfinancial frameworks.
Inthisdiplomaticrole,Abdullahbridgesnationalpriorities withglobalstrategies.Heistaskedwithnegotiatingand advocatingforSaudiArabia'sinterestswhilecontributingto broaderpolicydevelopmentatWIPO.Thisposition demandsnotjusttechnicalexpertisebutalsotact,vision, andastronggraspofinternationalrelations.Hisabilityto navigatethesecomplexdynamicsspeakstohismaturityas agloballeaderandhiscommitmenttopositioningSaudi ArabiaasaconstructiveforceintheIPcommunity.
ForAbdullah,thisroleisnotjustaboutrepresentation—it's aboutinfluence.Itallowshimtobringinsightsfromthe globalstagebackintoSaudifinancialsystemsandvice versa.Thistwo-wayexchangehasbeeninstrumentalin informingSAIP'spolicyframeworksandreinforcingthe Kingdom'sgrowingprominenceininternationalintellectual propertydiscourse.
AttheheartofAbdullah'sleadershipphilosophyaretheexperiencesthathave mostprofoundlyshapedhisapproach:leadingorganizationaltransformationand engagingininternationaldiplomacy WhetherguidingSAIPthroughacomplex financialrestructuringorrepresentingtheKingdomatWIPO,hisleadership styleisdefinedbycollaboration,strategicforesight,andarelentlessdrivefor excellence.
Heemphasizestheimportanceoftransparency,clearcommunication,andteam empowerment.Hissuccessinimplementingchangeacrossorganizationsstems fromhisabilitytobringstakeholderstogetheraroundasharedvision,fostering trustandacollectivesenseofpurpose.
Thedelicatebalanceofhisdualroles—managingnationalfinancialoperations whilecontributingtointernationaldiplomacy—isareflectionofhisdisciplined approach.AtSAIP,hereliesonstrongteamstructuresandoperationalprocesses thatallowfordecentralizedexecution.Thisfreesuphistimeandbandwidthto focusonstrategicplanningandhisresponsibilitiesontheinternationalstage.
Innovationandcomplianceareoftenseenasopposingforces—butforAbdullah, theyarecomplementary.AtSAIP,hehaschampionedtheintegrationof innovativetechnologiesthatenhancecomplianceratherthanhinderit.Through ERPimplementationandautomationinitiatives,hehasincreaseddataaccuracy, acceleratedreportingtimelines,andreducedmanualintervention—layingthe groundworkforasmarter,moreagilefinancefunction.
Heviewsthetransitiontoaccrualaccountingnotmerelyasacompliance exercise,butasastrategicenablerforbetterdecision-making.Byaligningwith IFRSandIPSAS,SAIPisnowbetterpositionedtobenchmarkitsperformance globallyandattractinternationalpartnerships.Abdullahhasalsofostereda strongcultureofauditandinternalreview,ensuringcontinuousimprovement andresilienceinfinancialoperations.
HisproactiveapproachtoriskmanagementhasenabledSAIPtoremainboth compliantandforward-thinking.Ratherthanreactingtoglobaltrends,histeam ispreparedforthem,alwaysaligningfinancialgovernancewiththepaceof innovationinIP.
SaudiArabia'saspirationstoleadintheglobalIParenaarenolonger aspirational—theyarebecomingreality WithVision2030asaguiding framework,theKingdomischannelingresourcesintobuildingarobustIP ecosystem,andAbdullah'sworksitsatthecenterofthistransformation.From strengtheningenforcementmechanismstoenhancinglegalframeworksand promotinginnovation,SAIPisdrivingthenationalagendaforwardwith purpose.
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“ The work I do has a direct impact on the country's Vision 2030 goals, and that sense of purpose keeps me driven every day.
Abdullahseesthisevolutionasbothachallengeandan opportunity.BycollaboratingcloselywithWIPOandother internationalbodies,SaudiArabiaiscontributingtotheshapingof globalIPnorms.Thesepartnershipsarenotone-sided;theyenable knowledgetransfer,benchmarking,andcollaborativeinnovation. ThroughhisroleattheProgramandBudgetCommittee,Abdullah ensuresthattheseglobalinteractionstranslateintotangible benefitsforSaudientrepreneurs,creators,andbusinesses.
Thesynergybetweeninternationalcollaborationandnational developmentisathemethatrunsthroughoutAbdullah'scareer HisworkwithWIPOisaclearexampleofhowglobal engagementcandirectlybenefitdomesticpolicyand infrastructure.Byparticipatinginglobaldiscussions,heensures SaudiArabia'svoiceisnotonlyheardbutrespected.Atthesame time,hebringshomelessonsthatelevatetheKingdom'sIPand financialgovernancestandards.
Hebelievesthatinternationalpartnershipsareessentialto fosteringinnovationandcompetitiveness.Theycreatechannels forinvestment,improveenforcementstandards,andenablecrossbordercollaborationinresearchanddevelopment.More importantly,theyensurethatSaudiIPlawsaregloballyrelevant andfuture-ready.
ForAbdullah,motivationstemsfromimpact.Theopportunityto contributetoSaudiArabia'seconomictransformation,whilealso playingaroleinshapingglobalIPpolicy,fuelshispassionand commitment.Hisdual-rolecapacityallowshimtooperateatthe intersectionoflocalexecutionandglobalstrategy—makingevery decisionandeverynegotiationdeeplymeaningful.
RepresentingtheKingdomatWIPOisbothanhonoranda responsibility.ItisaplatformthatamplifiesSaudiArabia's growinginfluenceintheinnovationeconomyandallowsleaders likeAbdullahtoadvocateforstrategicinitiativesthatbenefitthe entireIPecosystem.Hisworkensuresthatthefinancialand diplomaticleversofIPdevelopmentaremovinginsync,towarda futuredefinedbysustainability,growth,andfairness.
Abdullah'sadviceforemergingprofessionalsaspiringto leadershipininternationalorganizationsisrootedinexperience andforesight.Headvocatesforawell-roundedskillsetthat extendsbeyondtechnicalexpertisetoincludediplomacy,cultural sensitivity,andadaptability.Intoday'sinterconnectedworld,
successdependsnotjustonwhatyouknow,buthowwell youcannavigatecomplexity,buildtrust,andleadacross borders.
Heemphasizesthevalueofnetworkingand collaboration—encouragingyoungprofessionalstoengage withpeersfromdiversebackgroundsandtoembracechange asacatalystforgrowth.Aboveall,hehighlightsintegrity andcollaborationasthecornerstonesofeffectiveleadership.
AmongthemanyinitiativesAbdullahischampioning,the continuedtransformationofSAIP'sfinancialarchitecture
standsout.Theshiftfromcashtoaccrualaccountingis notjustaproceduralchange—itrepresentsastrategic milestonethatwillelevatetheorganization'scredibility, transparency,andreadinessforglobalintegration.
HeisalsoenthusiasticaboutSaudiArabia'sexpanding roleinshapingglobalIPpolicy.AstheKingdom continuestoinvestinsectorsliketechnology, entertainment,andrenewableenergy,intellectualproperty willbecomeincreasinglycentraltonational competitiveness.Throughongoingcollaborationwith WIPO,AbdullahishelpingtopositionSaudiArabianot justasaparticipant,butasaleaderintheinternationalIP ecosystem.
AbdullahAlrashed'sjourneyisacompellingnarrativeof howstrategicfinancialleadership,groundedinintegrity andvision,candrivenationaltransformationandglobal impact.WhetheroptimizingfinancialframeworksatSAIP orrepresentingSaudiinterestsatWIPO,heoperateswith aclearsenseofpurposeandacommitmenttoexcellence.
Hisstoryoffersapowerfullessonforleaderseverywhere: thattrueinfluenceliesnotinauthorityalone,butinthe abilitytoconnect,transform,andleadacrossdisciplines, sectors,andborders.Inaworldwhereinnovationisthe engineofprogress,AbdullahAlrashedishelpingsteer thatenginewiththesteadyhandsofaleaderwhoseesthe future—andisbuildingit.
WhyTrueTransformation Starts with People, Not JustTechnology
Byallmetrics,we'restandingattheedgeofa
technologicalrevolution.In2024alone,global investmentsinAIreached$100billion—$45 billionsofwhichfloweddirectlyintogenerativemodels. Andthisismerelytheprelude.Overthenextfiveyears, techtitanslikeMicrosoft,Google,Meta,andAmazonare preparingtopouroveratrilliondollarsintoAI development.
Thebuzzisjustified—butalsomisleading.WhiletheshorttermcapabilitiesofAIareoftenoverstated,itslong-term potentialisvastlyunderestimated.Weareonlybeginningto understandhowdeeplythistechnologywilltransformthe wayweliveandwork.Toignorethisevolutionistorisk becomingirrelevant—nottocompetitors,buttoreality itself.
Thecomparisontothedawnofthecomputerageisn't hyperbole.We'refacingadisruptionofsimilarmagnitude. Butrecognizingtheopportunityisonething.Actingonit, meaningfullyandsustainably,isanother.Most organizationsstrugglenotwithunderstandingthe“why” behindAIanddigitaltransformation—butwiththe“how.”
TheTwoSystemsEveryOrganizationMustAlign Ineveryorganization,therearetwointerdependentsystems atplay:thetechnologicalandthesocial.Thetechnological system—comprisedofservers,software,and silicon—followslogicandelectricity.Switchiton,andit works.
Thesocialsystem,ontheotherhand,runsonemotion, expectation,andfear.Itiscomprisedofpeople—and thereinliesboththecomplexityandthekeytosuccessful transformation.Everymajorshiftthreatensthestatusquo, triggeringresistance.Thisresistanceisnotabug;it'sthe defaultsettingofanysocialsystem.Andit'swheremost digitalinitiativesfail.
Manyorganizationsapproachtransformationwithatoolkit fullofbuzzwordsandframeworks—Agile,DevOps,RPA, AI.Buttheseonlyscratchthesurface.Realchangeisn't aboutnewtools;it'saboutevolvinghowanorganization works (theOperatingModel)and what itdelivers(the BusinessModel).Thisisn'tjustatechupgrade—it'sa redefinitionofpurpose.
Transformationisnotaprojectwithafixedtimeline.It'san ongoingadaptationtoanever-shiftinglandscape.Relying onoutdatedmodelslikeLewin's“Unfreeze-ChangeRefreeze”orKotter'seight-stepprocessislikemanaginga modernITsystemusingpunchcards.Thespeedofchange todaydemandsalighter,moreagileapproach—an“alpine” style,notanexpeditionwithahundredSherpas.
Goodleadershiphasn'tfundamentallychangedsincethe 1960s,butthestakeshave.Instabletimes,mediocre managementmighthavesufficed.Intoday'svolatile environment,itcanbecatastrophic.
Thechallengeisscale.Oneleadercannolongercontrol everydetail.Instead,theirroleistocreatestructuresthat empowerotherstocontributemeaningfully.Alignment becomesessential.Everyonemustunderstandthepurpose oftheorganization—becauseifoneteambuildsashipand anotheracandyfactory,chaosensues.
Effectivecommunicationisthefoundation.Traditional corporatecommunicationmodelsoftenfailhere.Abetter approachborrowsfromtheplaybookofHollywood—where dramaturgydrivesemotion,alignment,andaction.The “businessdramaturgy”frameworkappliestheseprinciples, helpingtransformpassiveobserversintoactiveparticipants.
Resistancetochangeisnotjustinevitable—it'sinformative. Ittellsuswheretherealfrictionlies.Beneathevery“I won't”isoftenan“Idon'tunderstand”or“Ifeel threatened.”Understandingtherootofthisresistance allowsleaderstorespondwithempathyandstrategy,not bruteforce.
Changethatstripsawayautonomyorstatuswithoutcontext breedsresentment.Butchangethatinvitesparticipationand providesclarityfostersresilience—andevenenthusiasm.
There'salessontobeborrowedfromphysics:focusonfirst principles.Physicistsdon'tjustsolveproblems;they redefinehowweseethem.Theyseekcoherence, interconnectedness,andnewframesofreference.
Organizations,too,mustmoveawayfromfragmented, siloedthinking.Culture,finance,tech,andstrategyaren't separate—eachinfluencestheothers.
Asystemviewedinisolationcan'tbeunderstoodinfull.It's likeanalyzingtemperaturewhileignoringpressureand volume.Theresult?Thingsexplode.
Resiliencemeanssurvivingdisruption.Antifragilitymeans growingstrongerbecauseofit.InspiredbyNassimTaleb, thisconcepturgesleaderstobuildorganizationsthatthrive onvolatility
How?
• Embracecontrolledchaos.Regularrotationofroles, decentralizationofdecision-making,andintentional experimentationstrengthensystemsovertime.
• Overcompensateininnovation.Don'tjustadopt AI—createyourowncloudplatformifthat'swhatit takes.
• Buildoptionality.Rigidprocessesfailunderstress. Flexiblesystemsendure.
• Encourageinternalinnovation.Don'tisolate creativityinasingledepartment.Letideassurface fromeverylevel.
• Acceptredundancies.Efficiencyisgreatuntilit makesyoufragile.Diversityandsparecapacitybuild adaptability.
PeterDruckerfamouslysaid,“Youcan'tmanagewhatyou can'tmeasure.”Butnoteverythingthatmatterscanbe measured.Over-relianceonKPIsleadstogamingthe system,notgenuineprogress.Leadershiprequires judgment.Itrequiresseeingbeyonddashboardsto understandrealsentiment,risk,andopportunity.UseKPIs asacompass—notasblinders.
Especiallyinuncertaineconomictimes,thequestion becomes:Howcanwedomorewithless?Theanswerisn't tightercontrol.It'sbetteralignment.Wheneveryone understandstheproblemandbuysintothevision,they'll contributenotbecausetheyweretold—butbecausethey care.Truetransformation,poweredbyAIornot,startsand endswithpeople.Andthat,morethananyalgorithm,is whatmakesthedifference.
by Dr. Manida Xongmixay-Lau, CHP
TheTrumpadministration’spolicyof imposingtariffsonproductsand servicesfromcountrieswithwhichthe UnitedStateshasatradedeficithas raisedcriticalquestionsregardingits broadereconomicrepercussions, particularlyforglobaltourism.This articleoffersastrategicexplorationof theimplications.
EconomicTheory:Tourismasan ExportSector
Importtariffsdonotdirectlyaffectthe tourismsector.Ineconomictheory, tourismisclassifiedasanexport sector,notanimport.Liketraditional exports,tourismsellsgoodsand servicestoforeignconsumers, generatingforeignexchangeand boostingnationalGDP.
Specifically:
Tourismboostsforeignexchange earningsthroughspendingonlodging, transport,food,andactivities.
• Itstimulatesnationaloutput throughemploymentcreation, supportforlocalbusinesses,and governmentrevenuegeneration.
• Tourismcompetes internationally,influencedby exchangerates,economic conditions,andevolvingtravel trends.
• Governmentsactivelydevelop tourismasanexportstrategy,
fosteringcompetitivenessand attractingforeignvisitors.
Thehospitalityindustry,which encompassestransportationservices suchasairlines,cruiseships,andtaxis; accommodationssuchashotels, homestays,andresorts;entertainment venueslikecasinos,festivals,and shoppingmalls;andretailsectorssuch assouvenirsandgoods,directly benefitsfrominboundtourism.
Thus,theTrumptariffsdonot immediatelyaffectthepricestourists paywhentravelingtotheU.S.,but theymayinfluencethebroader ecosystemoftravelbehaviors.
Contrarytocommonperception,most internationaltouristsoriginatefrom neighboringcountriesratherthan distantlocations.In2024,nearly50% ofthe78millioninternationalvisitors totheU.S.werefromCanada(20 million)andMexico(17million). Historicalandculturaltiesalsodrive tourismflows,asseeninthetravel patternsbetweenFranceanditsformer AfricancoloniesorDutchtourists visitingIndonesia.
Countriesheavilyinvestintourism
promotion,butunderstandinghow touristsselectdestinationsiscritical:
1. PersonalFactors:Demographics, income,education,prior experiences,andmotivations(fun, novelty,mentalrelaxation,escape fromroutine).
2. DestinationFactors: Accessibility,affordability, culturalofferings,natural attractions,andvisarequirements.
3. ContextualFactors:Seasonality, availablevacationdays,andtravel companions.
Notably,thefinalchoicereliesheavily onemotionsratherthansolelyrational analysis.Touristsseekhappiness, novelty,andasenseofescapism, prioritizingemotionalresonanceover cost-benefitcalculations.
Touriststhoroughlypreparetomitigate uncertainties,includingtransportation, accommodations,culturalnorms,and paymentoptions.Experiencedtravelers andthosewithhighereducationlevels showgreaterresiliencetounforeseen events.However,morethanactual risks,perceptionsofriskinfluence destinationchoices.
Emotionssignificantlycolor perceptions,decision-making,andrisk assessments.Fear,excitement,
nostalgia,anduncertaintycanreinforce ordeterdestinationselection,often outweighingrationalfactors.
Whiletheoreticallyhundredsof destinationsareavailable,tourists narrowtheirchoicesbasedon emotionalcomfort,perceivedsafety, andfamiliarity.Consumerpowertoday ismassive,drivenbypurchasing decisions,onlinereviews,socialmedia advocacy,andcollectiveactionslike boycotts.
Touristswieldmarket-shaping powerbyinfluencingproduct offerings,destinationmarketing strategies,andcorporatebehaviors towardsustainabilityandethics.
U.S.TariffsandTheirRippleEffects onTourism
Politicalandeconomicconflicts,or eventheirperception,influencetravel behaviors.Tariffsdonotdirectlyalter travelcosts,butcontributetoa growingperceptionoftheU.S.asa "foreigner-unfriendly"and "unpredictable"destination.
Beyondtariffs,theTrump administration'simmigration restrictions,heightenedvisascrutiny, arbitraryentryrefusals,and deportationsbasedonnationalityor politicalviewshavefurtherfueledthis imageandintroducedsignificant uncertaintyforinternationalvisitors.
· Higherdomesticcosts: Tariffsmaymakeeverydaygoods scarcerormoreexpensive,impacting touristexperiences.
· Perceivedhostility: Unwelcomingpoliciesandsporadic enforcementagainstforeignerscreate
emotionalbarrierstotravel.
· Travelhesitations:Canadiansand Mexicans—twoofthelargestsource markets—havealreadyshowngrowing reluctancetovisittheU.S.,whichisevident inbookingcancellationsandreducedtravel intentions.
Ifthesetrendspersist,thesetrendscould adverselyimpactmajoreventslikethe2026 FIFAWorldCupandthe2028Olympics.
Tourismisnotimmediatelyordirectly affectedbytariffsasanexport sector.However,thesecondary psychologicaleffects—higher perceivedcosts,uncertainty aroundentry,andatarnished nationalimage—could significantlydetertourism inflows.
Neighboringcountries, particularlyCanadaand Mexico,areexperiencing thesharpestreactions,but thebroaderglobal sentimentrisks underminingtheUnited States’appealasa preferredtravel destination.
Ultimately,tourism thrivesonperceptions ofsafety,hospitality, andfreedomof movement.Policies thatintroduce unpredictabilityor hostility—even unintentionally—erod ethesefoundational pillars,threateningnot justimmediate tourismreceiptsbut thelong-termbrand valueof"Destination USA.”
TheroleoftheChiefFinancialOfficer(CFO)isnolongerconfinedtonumbercrunchingand balancesheets.Today’sCFOsarechangeagents,strategyarchitects,andtechnology trailblazersdrivingthefutureoffinance.Asbusinessesstrivetostaycompetitiveinan increasinglydigitalanddata-drivenworld,CFOsareattheforefront,transformingfinance throughinnovation.
Traditionally,CFOswereseenasstewardsoffinancialaccuracyandcompliance.Their responsibilitieswerelargelycenteredaroundbudgeting,forecasting,andreporting.While thesecorefunctionsremainessential,theexpectationsaroundtheCFOrolehaveevolved dramatically
ModernCFOsarestrategicpartnerstotheCEO,workingcloselywithalldepartmentsto alignfinancialplanningwithbusinessgrowth.Theyplayakeyroleinmergers,acquisitions, investorrelations,andlong-termvaluecreation.Moreimportantly,theyareleadingdigital transformationwithinthefinancefunction,leveraginginnovationtounlockefficiency,agility, andinsights.
Innovationinfinancestartswithembracingdigitaltoolsand automation.CFOsaredrivingtheshiftfromoutdated spreadsheetsandmanualprocessestointegratedfinancial systemsthatofferreal-timedataandadvancedanalytics.
Technologiessuchasartificialintelligence(AI),robotic processautomation(RPA),andcloudcomputingarebeing adoptedtostreamlineroutinetaskslikeaccountspayable, expensemanagement,andreconciliation.Theseinnovations notonlyreduceerrorsandcutcostsbutalsofreeupfinance teamstofocusonmorestrategicactivities.
Byinvestinginintelligentautomation,CFOsareenabling fasterdecision-makingandmoreaccurateforecasting, transformingthefinancedepartmentintoavalue-generating engine.
Dataisthenewcurrencyinbusiness,andCFOsarethe custodiansofthisasset.Withaccesstovastamountsof financialandoperationaldata,CFOsareusinganalytics platformsandbusinessintelligencetoolstouncovertrends, risks,andopportunities.
Thisdata-drivenapproachempowerscompaniestomake informeddecisionsinrealtime.Whetherit'sidentifying newmarkets,optimizingpricingstrategies,ormanaging supplychaincosts,CFOsprovidetheinsightsthatsteer strategicdirection.
Theshiftfromhindsighttoforesight—fromstaticreports topredictivemodeling—isoneofthemostprofound transformationsinmodernfinance,andit’sbeingledby innovativeCFOs.
Inavolatileglobaleconomy,agilityiseverything.The abilitytorespondquicklytomarketchanges,regulatory shifts,andcustomerdemandscanmakeorbreakabusiness. InnovativeCFOsareembeddingagilityintofinancial planningandanalysis(FP&A)processes.
Byadoptingrollingforecasts,scenarioplanning,andrealtimedashboards,they’reenablingbusinessestopivotfaster andallocateresourcesmoreeffectively.Thisagileapproach tofinanceensuresthatthecompanyisnotjustreactingto changebutanticipatingit.
CFOsarealsofocusingonflexiblecoststructuresand variablebusinessmodelstohelpcompaniesnavigate uncertaintywithoutcompromisinggrowth.
ChampioningSustainabilityandESG
Innovationisn’tjustabouttechnology—it'salsoabout values.CFOsareincreasinglytakingtheleadon environmental,social,andgovernance(ESG)initiatives. Investors,customers,andemployeesalikearedemanding greateraccountabilityandtransparencyintheseareas.
Forward-thinkingCFOsareintegratingESGmetricsinto financialreportingandlong-termplanning.They're overseeingsustainabilityinvestments,trackingcarbon footprints,andaligningcompanygoalswithglobal standardsforresponsiblebusiness.
ByembeddingESGintofinancialstrategy,CFOsarenot onlyenhancingbrandreputationbutalsopositioningtheir companiesforlong-termresilienceandinvestorappeal.
Transformingfinancethroughinnovationalsomeans rethinkingtalent.CFOsarenolongerjustlookingfor accountants—they’rebuildingdiverseteamsofdata analysts,technologists,andstrategicthinkers.
Upskillingandcross-traininghavebecomepriorities,as financeteamsneedtounderstandautomationtools,data storytelling,andagileprojectmanagement.Themodern CFOfostersacultureofcontinuouslearning,curiosity,and innovation.
Additionally,remoteworkanddigitalcollaborationtools arereshapinghowfinanceteamsoperate,allowingfor greaterflexibility,inclusivity,andproductivity.
Innovationinfinanceisnotoptional—it’sessential.Andat theheartofthistransformationstandstheCFO.By embracingtechnology,leadingwithdata,andchampioning agilityandsustainability,CFOsareturningfinance departmentsintostrategicpowerhouses.
Theyarenolongerjustreportingonthepast—they’re buildingthefuture.Throughvision,innovation,and execution,CFOsarenotjusttransformingfinance.Theyare redefiningwhatitmeanstoleadinthemodernbusiness world.
TheroleoftheChiefFinancialOfficer(CFO)isnolonger confinedtonumbercrunchingandbalancesheets.Today’sCFOs arechangeagents,strategyarchitects,andtechnologytrailblazers drivingthefutureoffinance.Asbusinessesstrivetostay competitiveinanincreasinglydigitalanddata-drivenworld,CFOs areattheforefront,transformingfinancethroughinnovation.
Traditionally,CFOswereseenasstewardsoffinancialaccuracy andcompliance.Theirresponsibilitieswerelargelycentered aroundbudgeting,forecasting,andreporting.Whilethesecore functionsremainessential,theexpectationsaroundtheCFOrole haveevolveddramatically
ModernCFOsarestrategicpartnerstotheCEO,workingclosely withalldepartmentstoalignfinancialplanningwithbusiness growth.Theyplayakeyroleinmergers,acquisitions,investor relations,andlong-termvaluecreation.Moreimportantly,theyare leadingdigitaltransformationwithinthefinancefunction, leveraginginnovationtounlockefficiency,agility,andinsights.
EmbracingDigitalTransformation
Innovationinfinancestartswithembracingdigitaltoolsand automation.CFOsaredrivingtheshiftfromoutdatedspreadsheets andmanualprocessestointegratedfinancialsystemsthatoffer real-timedataandadvancedanalytics.
Technologiessuchasartificialintelligence(AI),roboticprocess automation(RPA),andcloudcomputingarebeingadoptedto streamlineroutinetaskslikeaccountspayable,expense management,andreconciliation.Theseinnovationsnotonly reduceerrorsandcutcostsbutalsofreeupfinanceteamstofocus onmorestrategicactivities.
Byinvestinginintelligentautomation,CFOsareenabling fasterdecision-makingandmoreaccurateforecasting, transformingthefinancedepartmentintoavalue-generating engine.
Dataisthenewcurrencyinbusiness,andCFOsarethe custodiansofthisasset.Withaccesstovastamountsof financialandoperationaldata,CFOsareusinganalytics platformsandbusinessintelligencetoolstouncovertrends, risks,andopportunities.
Thisdata-drivenapproachempowerscompaniestomake informeddecisionsinrealtime.Whetherit'sidentifying newmarkets,optimizingpricingstrategies,ormanaging supplychaincosts,CFOsprovidetheinsightsthatsteer strategicdirection.
Theshiftfromhindsighttoforesight—fromstaticreports topredictivemodeling—isoneofthemostprofound transformationsinmodernfinance,andit’sbeingledby innovativeCFOs.
Inavolatileglobaleconomy,agilityiseverything.The abilitytorespondquicklytomarketchanges,regulatory shifts,andcustomerdemandscanmakeorbreakabusiness. InnovativeCFOsareembeddingagilityintofinancial planningandanalysis(FP&A)processes.
Byadoptingrollingforecasts,scenarioplanning,andrealtimedashboards,they’reenablingbusinessestopivotfaster andallocateresourcesmoreeffectively Thisagileapproach tofinanceensuresthatthecompanyisnotjustreactingto changebutanticipatingit.
CFOsarealsofocusingonflexiblecoststructuresand variablebusinessmodelstohelpcompaniesnavigate uncertaintywithoutcompromisinggrowth.
Innovationisn’tjustabouttechnology—it'salsoabout values.CFOsareincreasinglytakingtheleadon environmental,social,andgovernance(ESG)initiatives. Investors,customers,andemployeesalikearedemanding greateraccountabilityandtransparencyintheseareas.
Forward-thinkingCFOsareintegratingESGmetricsinto financialreportingandlong-termplanning.They're overseeingsustainabilityinvestments,trackingcarbon
footprints,andaligningcompanygoalswithglobal standardsforresponsiblebusiness.
ByembeddingESGintofinancialstrategy,CFOsarenot onlyenhancingbrandreputationbutalsopositioningtheir companiesforlong-termresilienceandinvestorappeal.
Transformingfinancethroughinnovationalsomeans rethinkingtalent.CFOsarenolongerjustlookingfor accountants—they’rebuildingdiverseteamsofdata analysts,technologists,andstrategicthinkers.
Upskillingandcross-traininghavebecomepriorities,as financeteamsneedtounderstandautomationtools,data storytelling,andagileprojectmanagement.Themodern CFOfostersacultureofcontinuouslearning,curiosity,and innovation.
Additionally,remoteworkanddigitalcollaborationtools arereshapinghowfinanceteamsoperate,allowingfor greaterflexibility,inclusivity,andproductivity
Innovationinfinanceisnotoptional—it’sessential.Andat theheartofthistransformationstandstheCFO.By embracingtechnology,leadingwithdata,andchampioning agilityandsustainability,CFOsareturningfinance departmentsintostrategicpowerhouses.
Theyarenolongerjustreportingonthepast—they’re buildingthefuture.Throughvision,innovation,and execution,CFOsarenotjusttransformingfinance.Theyare redefiningwhatitmeanstoleadinthemodernbusiness world.
