Ras Al Khaimah…a comprehensive development vision based on economic diversification

Ras Al Khaimah, December 20 / WAM / The Emirate of Ras Al Khaimah has paid great attention to building a balanced economy based on production and export, in addition to logistics services, tourism and manufacturing industries, as part of its keenness to enhance national performance with the aim of diversifying non-oil economic sectors in line with the objectives of the “We are the Emirates 2031” vision.

The latest data from the Ras Al Khaimah Chamber of Commerce and Industry show a remarkable growth in export movement during the first nine months of 2025, which reflects the vitality of the emirate’s economy and its ability to interact positively with external demand, in addition to the expansion of trade partnerships with multiple markets in the Middle East, Asia, Europe and Africa.

The value of goods exported by Chamber members and covered by certificates of origin amounted to about 7.6 billion dirhams, while the third quarter of the year recorded the highest levels of activity with the issuance of 9,467 certificates of origin, which confirms the stability of production lines and the continuity of external demand for Ras Al Khaimah products.

The Kingdom of Saudi Arabia topped the list of countries importing from the emirate, issuing 9,393 certificates of origin with a value exceeding 1.6 billion dirhams, which reflects the depth of the Gulf economic partnership. The Sultanate of Oman came in second place with 2,199 certificates worth 211 million dirhams, followed by the State of Kuwait with 1,182 certificates worth approximately 299 million dirhams.

Iraq came fourth in value with 1.2 billion dirhams through 992 certificates of origin, which highlights the growing role of Ras Al Khaimah’s industries in meeting the needs of regional markets with a high population density, followed by Qatar, Bahrain, and Egypt, on the list of the most prominent markets receiving exports, in a clear indication of geographical diversity that gives the emirate’s economy strategic flexibility and reduces the risks of relying on a single market.

In this context, His Excellency Mohammed Musabah Al Nuaimi, Chairman of the Board of Directors of the Ras Al Khaimah Chamber of Commerce and Industry, stressed that the emirate’s economic path is based on a comprehensive development vision that does not view growth as a numerical goal, but rather as a means to empower society, enhance the competitiveness of institutions, and ensure long-term sustainability.

Al Nuaimi said that investing in people, infrastructure, and institutions formed the basic foundation for attracting foreign investments, and contributed to building a flexible economic system capable of absorbing global transformations, while maintaining a balance between economic growth and environmental sustainability, especially in developing industrial zones and supporting manufacturing industries and advanced technologies.

The free zones in Ras Al Khaimah, led by the Ras Al Khaimah Economic Zones (RAKZ), play a pivotal role in supporting industrial and commercial activity, as the number of certificates of origin issued by the free zones to the local UAE market has increased to 2,839 certificates with a value of goods amounting to 567 million dirhams.

Rami Jallad, CEO of RAKEZ, stressed that the emirate has succeeded in building an integrated business environment that combines legislative flexibility, advanced infrastructure, and services allocated to investors, which has contributed to attracting quality projects in the fields of manufacturing industries, advanced technologies, and clean energy. He said that this economic diversification gives Ras Al Khaimah a high ability to adapt to global economic changes, and strengthens its position as a thriving regional business center.

The tourism sector in Ras Al Khaimah is witnessing a qualitative transformation, making it one of the most prominent engines of economic growth, according to recent data issued by Sterling International Hospitality Consulting. The emirate received 1.28 million visitors for hotel stays during the year 2024, achieving a growth of 5.1% compared to the previous year, in an indicator that reflects the increasing attractiveness of the emirate and the diversity of the tourism product it offers.

Data indicate that Ras Al Khaimah is preparing for an unprecedented phase of hotel expansion, within the framework of its long-term goals, as the number of hotel rooms currently available is about 8,300, with the expectation of adding 9,300 new rooms in the coming years, which will significantly increase the hotel capacity of the emirate and enhance its ability to accommodate the rapid growth in the number of visitors.

Indicators show that the majority of new hotel projects fall within the five-star category, which reflects the emirate’s focus on high-end tourism and enhancing the quality of the tourism experience, in addition to supporting its position as an integrated destination for leisure and business tourism.

The hotel residential units sector is also witnessing a remarkable expansion, with the launch of 16 new projects expected to provide about 5,600 units by 2029, in addition to about 1,000 additional hotel rooms expected by 2030.

Ras Al Khaimah’s tourism vision aims to attract 3.5 million visitors annually by 2030, exceeding the initial goals, which reflects the emirate’s ambition to transform into a global tourism center supported by advanced infrastructure and diverse tourism experiences.

Development companies play a pivotal role in this transformation, led by Marjan Group, which leads major projects on Marjan Island, RAK Central, and Jebel Jais.

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