RAK – The Emirate of Tomorrow
Invest in RAK’s Thriving Hospitality Market
Ras Al Khaimah (RAK) is the 4th largest and northern most emirate of the United Arab Emirates and has become one of the most sought-after locations for living, leisure and businesses to prosper.
RAK is now a strategic gateway to the Middle East, Africa and Asia, due to its geostrategic location in the Arabian Gulf, providing investors with easy access to growing markets, with great proximity to express highways, seaports and airports. RAK is only 45 minutes from Dubai International Airport and the Emirate is only a 4-hour flight time to 31% of the world’s population.
RAK has experienced solid growth in tourism demand and continues to outperform most tourism destinations in the GCC, with a long-term forecast to reach 2.5-2.9 million visitors by 2025.
With its dedicated focus on tourism, ease of accessibility as a strategic location, increased leisure demand and growth in hospitality performance, it’s no surprise that Ras Al Khaimah has become an investor haven for the world’s wealthy.
RAK’s Impressive Tourism Growth:
Ras Al Khaimah’s Economy has been growing at 11% p.a. since 2008 and has witnessed well rounded development (Source: RAK Investment Authority – RAKIA, 2016)
RAK’s tourism industry has witnessed tremendous growth of 8.7% between 2014 – 2017, surpassing that of UAE – only 5.7% growth in the same period (Source: Colliers International, 2017)
Tourist arrivals have been driven by increasing demand for beach resorts, contributing >80% in 2016 by International visitors (Source: Colliers International, 2017)
RAK is emerging as a major hub for hotel investment with a projected pipeline of 10,200 keys – the most aggressive amongst other (Source: Colliers International, 2017)
Ras Al Khaimah Tourism Authority strategically targets a total of 1 million visitors and AED 2.4 billion in tourism revenues by 2019 under its 3 year tourism strategy “Destination Ras Al Khaimah 2019” (Source: Colliers International, 2017)
RAK witnessed a sharp increase in visitors from International markets such as India (28% growth in 2016), Russia (19.5% growth in 2016), Germany (25% growth in 2016) & the UK (35% growth in 2016) (Source: RAKTDA, 2017)