1. Tourism & Hospitality
Ras Al Khaimah achieved a record-breaking 1.28 million overnight visitors in 2024, marking a 12% increase in tourism revenues. The emirate’s tourism sector is bolstered by the development of luxury resorts, adventure tourism offerings like the world’s longest zipline on Jebel Jais, and a growing calendar of international events. Notably, the upcoming Wynn Al Marjan Island resort is expected to further enhance the region’s appeal .
2. Real Estate & Construction
The real estate market in Ras Al Khaimah has witnessed remarkable growth, with property transactions reaching AED 15.08 billion in 2024—a 118% increase from the previous year. This surge is driven by major infrastructure projects, including the anticipated Wynn Al Marjan Island development, which is set to redefine luxury hospitality in the region.
3. Manufacturing & Industry
Ras Al Khaimah has strategically developed its manufacturing sector, focusing on ceramics, pharmaceuticals, and building materials. The establishment of industrial zones and incentives has attracted investment, making manufacturing a significant contributor to the emirate’s GDP and employment opportunities.
Leveraging its strategic location near the Strait of Hormuz, Ras Al Khaimah serves as a vital trading and logistical hub. The emirate has invested in expanding ports, improving transport infrastructure, and offering incentives to promote trade, making it an attractive destination for businesses seeking to establish trade routes and logistics operations.
5. Entrepreneurship & Innovation
Ras Al Khaimah fosters a conducive environment for startups and businesses through initiatives like free zones offering tax exemptions and 100% foreign ownership. Business support services and international promotion efforts further enhance the entrepreneurial ecosystem, attracting investors and entrepreneurs seeking growth opportunities.
These sectors collectively contribute to Ras Al Khaimah’s dynamic economic landscape, positioning the emirate as a hub for investment and development in the UAE.
