In recent years an expanding population, a growing industrial base and the increasing number of tourists visiting the emirate have driven RAK’s transport infrastructure growth. Taken together with storage and communications, the transport sector contributed an estimated 6.55%, or about $313.6m, to the economy in 2010. To cater for the 40% increase in the number of registered motor vehicles over two…
Ras Al Khaimah’s construction sector remains a key component of the emirate’s growing economy. Following the 2008-09 economic downturn, the emirate’s construction industry seems in good shape, with a number of notable projects already under way. In particular, the government is expecting to welcome 1.2m visitors in 2012, which is spurring sizeable expansion in the hotel segment. The construction…
Industry accounted for more than 30% of RAK’s GDP in 2010, reflecting the emirate’s positioning as a leading manufacturing centre within the UAE and broader region. Although the global credit crunch of 2008 did affect some of RAK’s industries, the emirate’s industrial base grew overall, which has made for a more diverse and resilient economy. RAK’s free trade zones and industrial parks continue…
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 has…
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…
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 by becoming…
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.There has been steady growth in RAK’s retail sector, with new malls and high-street outlets opening on a regular basis over the past…
With passenger traffic on the rise and new routes earmarked for its flag carrier, Ras Al Khaimah (RAK) is strengthening its foothold in the regional aviation market despite facing tough competition from the other emirates.The carrier, RAK Airways, has faced a challenging few years, first being grounded at the height of the global economic recession and then, after a period of restructuring, returning…
Despite difficult conditions in the real estate market following the global economic downturn during 2009 and 2010, Ras Al Khaimah (RAK) has held up relatively well, and a number of developments are being pushed ahead.The real estate and business sector contributed an estimated 7.2% of RAK’s total GDP in 2010, according to the latest data from the RAK Department of Economic Development (DED). A handful…
