Economy

Ras Al Khaimah Economy 2012
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 seen rapid expansion in recent years, with several companies setting up factories in RAK’s industrial zones to process various metals. At the same time, tourism and related sectors such as real estate and retail are expected to grow, with plans to expand RAK International Airport in the pipeline. These include new arrivals and departures lounges, cargo facilities, parking and office space. New efforts are also being made to develop long-term growth drivers within the emirate. Several local research institutions have been set up in recent years, and over the long term this will facilitate the growth of high-tech industries by improving the pool of local engineering talent. This chapter includes an interview with Jim Stewart, the CEO of RAK Investment and Development Office.
Cover of The Report: Ras Al Khaimah 2012

The Report

This chapter is from the UAE: Ras Al Khaimah 2012 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Jim Stewart, CEO, Investment & Development Office, Government of Ras Al Khaimah
OBG talks to Jim Stewart, CEO, Investment & Development Office, Government of Ras Al Khaimah

Choose a chapter from The Report: Ras Al Khaimah 2012