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Ras Al Khaimah’s economy to grow 10% in 2009

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 Government’s Economic Development Department’s Director-General, Hassan Hamdan Al Alkim stated that the northern Emirate’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 Khaimah’s tourism sector is a major contributor towards the Emirate’s gross domestic product. Many projects in Ras Al Khaimah’s tourism sectors are commencing operations, whilst others are on schedule for completion, according to Al Akim.

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