UAE: Ras Al Khaimah

Ras Al Khaimah saw its tourism industry hit a high note in 2014, with revenues surpassing Dh1bn ($242.9m), bolstered by the addition of new rooms and a rise in the number of hotel nights spent by visitors in the emirate. 

A renewed focus on developing the tourism and industrial sectors has driven a construction boom in Ras Al Khaimah (RAK) and led to the development of a host of industrial, residential, commercial and retail spaces. To support this growth, the government has at the same time invested in basic electricity, water and sewer networks.

Plans to introduce compulsory health insurance in Ras Al Khaimah (RAK) are expected to usher in a wave of new private sector investment, a response to a forecast rise in demand for specialised services. To do so, the emirate is also stepping up efforts to attract and retain trained staff in an increasingly competitive market.

The economy of Ras Al Khaimah (RAK) has continued to expand, and while final year-end 2012 figures for growth have yet to be released, officials say they are confident that the forecast 8% increase in GDP – the same rate as in 2011 – will be have been achieved in the emirate.

With demand for cement in Ras Al Khaimah (RAK) poised to rise and regional projects already driving up exports, there are signs that the industry could be turning a corner.

Ras Al Khaimah’s (RAK’s) tourism sector continues to exceed expectations, with visitor arrivals well up on forecasts and overseas investment flowing in. However, the emirate faces stiff competition in a crowded market to develop brand recognition.