UAE: Ras Al Khaimah

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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.
The already busy glass industry in Ras Al Khaimah (RAK) is set to expand even further in 2013 with yet another overseas company setting up production facilities in the emirate. Indeed, RAK’s central location and low costs have become desirable for numerous companies looking to set up in the region.

How are recent government funds being allocated towards developing new tourism projects?

Though one of the less well known emirates in the UAE, Ras Al Khaimah is quickly developing as a tourism destination. Indeed, tourism has been back on a healthy path since 2010, and industry leaders expect further growth in the coming years. The local economy overall is benefitting from the uptick in visitors as new hotels are being built. Operators...

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