Revenues for RAK’s tourism sector rose 44% in 2014 and the total number of overnight stays by guests grew by 72% to reach 2.14m.The tourism sector is estimated to support 307,000 jobs across the UAE, or 5.4% of total employment, which is expected to rise by 5.4% in 2015 and 2.6% per annum until 2025. Developers hope to see the area grow substantially in the next few years as the mixed...
The Middle East
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Moves towards the development of a knowledge-based economy have begun in RAK as the emirate implements education reforms and student enrichment initiatives get under way. The Ministry of Education’s mid-range policy for the 2015-21 period targets knowledge integration in industries related to science, technology, engineering and mathematics. Meanwhile, with the federal goal of meeting 15% of...
Investment in both private and public health care facilities has been on the rise over the past decade in RAK, with the health care sector expected to undergo a sustained period of major growth. Demand for new services is rising rapidly as RAK, like the rest of the UAE, witnesses an increasing incidence of lifestyle-related diseases. The government has increasingly targeted private health care...
The energy mix in RAK is currently led by government-owned operators RAK Petroleum and RAK Gas, both of which are involved in exploration and operation...
RAK’s location on the Strait of Hormuz, its well-developed infrastructure, and the free trade agreements in place within the GCC are some of the key logistical advantages offered to businesses located in the emirate. RAK boasts five ports, each with a clearly defined role, and all of them branded as RAK Ports and managed by the Saqr Port Authority. The 1200-km Etihad Rail Project is being...
Chapter | Construction & Real Estate from The Report: Ras Al Khaimah 2015
Construction remains a key sector in RAK, with the industry driven by a combination of infrastructure, housing and hospitality schemes. The emirate’s role in providing raw materials and manufactured components for mega projects in the UAE and beyond looks set to continue as the region builds up to major events such as the 2022 FIFA World Cup. Strong demand continues to drive new residential...