Ras Al Khaimah: Ras Al Khaimah seeks to welcome 3.5 million tourists annually by 2030, says Raki Philipps, CEO of Ras Al Khaimah Tourism Development Authority.
In his address at a recent forum in the northern emirate, Phillips highlighted that tourism is Ras Al Khaimah’s fastest growing sector, contributing 5% to the GDP and a forecast to expand this contribution to one third by 2030.
Philipps was a speaker at the Ras Al Khaimah Investment and Business Summit (RAKIS) forum on December 10-11th. The forum was attended by ministers, industry experts, and international stakeholders, all highlighting the vast investment opportunities available across the emirate’s key sectors.
Dr. Wafa Jaber Al Rahma, Director of the Standards and Guidelines Department at the Ministry of Health and Prevention spotlighted Ras Al Khaimah’s rapidly expanding healthcare sector. She emphasized the significant growth in both public and private healthcare investments, stressing their vital contribution to the emirate’s broader economic diversification strategy.
Ramy Jallad, Group CEO of RAKEZ, highlighted the economic diversity of Ras Al Khaimah, emphasizing its expansive ecosystem that includes over 38,000 companies across more than 50 sectors. With businesses from over 100 countries, he showcased the emirate as a prime destination for global investment and growth.
Other speakers included Sameh Muhtadi, CEO of RAK Properties, Ankur Aggarwal, Chairman and Founder of BNW Developments as well as Mohamed Al Nuaimi, Chairman, Ras Al Khaimah Chamber of Commerce, in addition to investors, industry leaders, and policymakers.
The summit explored the transformative potential of tourism-driven infrastructure and sustainable real estate development in the emirate. Strategic investments, regulatory reforms, and the adoption of smart city technologies were spotlighted as critical to modernizing the region’s urban infrastructure and enhancing quality of life, while simultaneously creating lucrative opportunities in commercial, residential, and industrial markets. Sessions also delved into Ras Al Khaimah’s manufacturing potential and sustainable tourism initiatives, highlighting innovative strategies to align with evolving global trends.
A session brought together influential diplomats, offering invaluable insights into global trends, paving the way for transformative opportunities in trade, investment, and international collaboration. Speakers featured Bérangère Boëll, United Nations Resident Coordinator for the UAE, Lucie Berger, Ambassador of the European Union to the UAE and Alison Hall, Acting Consul General to Dubai and the Northern Emirates.