Ras Al Khaimah is expected to attain an economic growth of 10 percent this year, beating the trend globally. This was highlighted by a top Ras Al Khaimah government official, who added that the Emirate has been launching realistic, cautious and pragmatic initiatives in its industrial and tourism sector.
Ras Al Khaimah Governmentâ€™s Economic Development Departmentâ€™s Director-General, Hassan Hamdan Al Alkim stated that the northern Emirateâ€™s economy is expected to grow by 10 percent in 2009. Ras Al Khaimah achieved a gross domestic product of AED 13 billion in 2008, a 14 percent increase from the year before.
Ras Al Khaimahâ€™s tourism sector is a major contributor towards the Emirateâ€™s gross domestic product. Many projects in Ras Al Khaimahâ€™s tourism sectors are commencing operations, whilst others are on schedule for completion, according to Al Akim.
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