Ras Al Khaimah stands out in the Gulf as one of the region’s most diversified economies. Investment spread across manufacturing, tourism, retail, high-tech industries and construction has been underpinned by improvements in infrastructure and connectivity. Quarrying, mining and manufacturing accounted for some 30% of GDP, followed by financial services, at 14.4%. In particular, the metal sector...
UAE: Ras Al Khaimah
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Chapter | Financial Services from The Report: Ras Al Khaimah 2012
Despite the lingering effects of the 2008-09 international economic downturn and the more recent political unrest in the region, Ras Al Khaimah’s financial services sector is expected to grow substantially, fuelled by steady expansion in retail banking, Islamic financial services (IFS) and the insurance segment. Indeed, annual deposit growth at UAE banks reached a high of 16% in April 2011....
With some of the fastest-growing free trade zones in the region, Ras Al Khaimah has witnessed impressive economic expansion and diversification across key industries in recent years, and is on its way to becoming an important investment destination in the Gulf
Chapter | Country Profile from The Report: Ras Al Khaimah 2012
This chapter provides information about RAK’s geography, economy, population, natural resources and political system. It also includes an overview of the large-scale development programmes that have been put in place in RAK over the past 10 years – projects that have aided the emirate’s reputation as an up-and-coming player in the Middle East and further afield. The industrial sector, which today...
Economic update | RAK: Ceramics milestone
25 Jul 2012
The limestone deposits of Ras Al Khaimah (RAK), along with the emirate’s five ports, an airport and good road links to the rest of the UAE and GCC, have enabled the emirate to develop a substantial industrial sector, most notably in ceramics. Indeed, despite facing rising costs and uncertainty in overseas markets, RAK’s flagship industrial manufacturer recently reached a major milestone.
Economic update | RAK: Room for growth
6 Jul 2012
With the economy continuing to expand, retailers in Ras Al Khaimah (RAK) are hoping for a period of sustained growth, benefitting from rising local incomes and an increasing number of tourists, but they are also mindful of the competition from neighbouring emirates.