Ras Al Khaimah charts comprehensive development path of diversification

The emirate of Ras Al Khaimah has placed strong emphasis on building a balanced economy based on production and exports, alongside logistics, tourism and manufacturing industries, reflecting its commitment to strengthening national performance by diversifying non-oil economic sectors in line with the objectives of the ‘We the UAE 2031’ vision.

Latest data from the Ras Al Khaimah Chamber of Commerce and Industry show notable growth in export activity during the first nine months of 2025, reflecting the vitality of the emirate’s economy and its positive responsiveness to external demand, as well as the expansion of trade partnerships with multiple markets across the Middle East, Asia, Europe and Africa.

The value of goods exported by chamber members and covered by certificates of origin reached approximately Dhs7.6 billion. The third quarter of the year recorded the highest level of activity, with 9,467 certificates of origin issued, confirming the stability of production lines and the sustained external demand for Ras Al Khaimah products.

The Kingdom of Saudi Arabia topped the list of importing countries from the emirate, with 9,393 certificates of origin issued for goods valued at more than Dhs1.6 billion, reflecting the depth of Gulf economic partnership. The Sultanate of Oman ranked second with 2,199 certificates valued at Dhs211 million, followed by the State of Kuwait with 1,182 certificates valued at nearly Dhs299 million.

Iraq ranked fourth in terms of value at Dhs1.2 billion through 992 certificates of origin, highlighting the growing role of Ras Al Khaimah’s industries in meeting the needs of densely populated regional markets. Qatar, Bahrain and Egypt followed among the leading destinations for exports, underscoring the geographical diversification that grants the emirate’s economy strategic flexibility and reduces reliance on a single market.

In this context, Mohamed Mosbeh Al Nuaimi, Chairman of the Ras Al Khaimah Chamber of Commerce and Industry, said the emirate’s economic path is based on a comprehensive development vision that views growth not as a numerical target, but as a means to empower society, enhance institutional competitiveness and ensure long-term sustainability.

Al Nuaimi explained that investment in human capital, infrastructure and institutions has formed the cornerstone of attracting foreign investment and contributed to building a flexible economic system capable of absorbing global transformations, while maintaining a balance between economic growth and environmental sustainability, particularly in the development of industrial zones and the support of manufacturing industries and advanced technologies.

Free zones in Ras Al Khaimah, led by Ras Al Khaimah Economic Zone (RAKEZ), play a pivotal role in supporting industrial and commercial activity. The number of certificates of origin issued from free zones to the UAE local market rose to 2,839 certificates, with goods valued at Dhs567 million.

Ramy Jallad, Chief Executive Officer of RAKEZ, said the emirate has succeeded in building an integrated business environment that combines legislative flexibility, advanced infrastructure and tailored investor services. He noted that this has helped attract high-quality projects in manufacturing, advanced technologies and clean energy, adding that such economic diversity enhances Ras Al Khaimah’s ability to adapt to global economic changes and strengthens its position as a thriving regional business hub.

The tourism sector in Ras Al Khaimah is undergoing a qualitative transformation, making it one of the key drivers of economic growth. According to recent data issued by Stirling Hospitality Advisors, the emirate welcomed 1.28 million hotel guests in 2024, achieving growth of 5.1 percent compared to the previous year, reflecting the rising attractiveness of the emirate and the diversity of its tourism offerings.

Data indicate that Ras Al Khaimah is preparing for an unprecedented phase of hotel expansion as part of its long-term targets. The emirate currently offers around 8,300 hotel rooms, with an expected addition of 9,300 new rooms in the coming years, significantly increasing accommodation capacity and enhancing its ability to absorb rapid growth in visitor numbers.

Indicators show that the majority of new hotel projects fall within the five-star category, reflecting the emirate’s focus on luxury tourism and enhancing the quality of the visitor experience, while supporting its position as a comprehensive destination for leisure and business tourism.

The serviced residential units sector is also witnessing notable expansion, with the launch of 16 new projects expected to provide around 5,600 units by 2029, in addition to approximately 1,000 extra hotel rooms anticipated by 2030. Ras Al Khaimah’s tourism vision aims to attract 3.5 million visitors annually by 2030, surpassing initial targets and reflecting the emirate’s ambition to transform into a global tourism hub supported by advanced infrastructure and diverse tourism experiences.

WAM