Economy of Ras Al Khaimah – Literature and Information
The Emirate of Ras Al Khaimah has successfully carved a unique spot for itself in the UAE and the region, building on its arsenal of strengths, such as its strategic geographic location, abundance of natural resources and human capital, in addition to a wise leader who has a deep understanding of regional and global developments.
These strengths and more have and continue to propel Ras Al Khaimah on its journey towards greater development and prosperity.
The Emirate’s population is on the rise, with 345,000 people now calling Ras Al Khaimah their home. As its economy has grown and consistently earned ‘A’ ratings from international agencies, Ras Al Khaimah has also become home to more than 15,000 companies that represent over 50 industry sectors and come from more than 100 countries. These include internationally renowned yet home-grown businesses such as RAK Ceramics, Julphar Pharmaceuticals, RAKBANK, RAK Rock, Stevin Rock and RAK Ports.
Entrepreneurs and investors from around the world are finding it easier than ever to start a business in Ras Al Khaimah, taking advantage of its skilled workforce, excellent infrastructure and its strategic location, with one third of the world’s population within four hour’s flying time.
With fast-growing tourism and leisure sectors, Ras Al Khaimah offers its residents and visitors a truly unique experience, from mountains, deserts and ancient cultural sites … to beaches, mangroves and excellent entertainment. The Emirate reached over 1 million visitors in 2018 and is on target for 2.9 million in 2025.
While there is much to celebrate today, we believe Ras Al Khaimah’s best days are ahead. Our goal is to help make the Emirate one of the best places to live, work, do business and raise a family, driven by a happy and strong community, a prosperous and diversified economy and a sustainable environment for future generations to enjoy.
Under the stewardship of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, the Emirate’s economy has grown exponentially. Statistics show that there has been an estimated 200% increase in GDP per capita over the past 17 years, demonstrating that the Ruler’s ambitious strategies have triggered a comprehensive and structural transformation of the local economy.
What has been accomplished in a short period of time is the fruit of tremendous efforts, meticulous planning and dedicated, masterful work performed across various entities and departments. This progress will open the door to further business and investment opportunities and Ras Al Khaimah will continue to deliver on His Highness’s Vision to develop the Emirate across all sectors for the benefit of the people of the Emirate, investors and tourist alike.
For more information on economic opportunities in Ras Al Khaimah, click here.
For more statistics and reports according to Ras Al Khaimah Chamber of Commerce and Industry, click here.
(source of this information: RAK media office)