RAK’s economy will grow this year, as a result of plans to invest in its infrastructure and tourism sectors.
- RAK will boost its tourism, logistics and industrial markets in 2013
- The plans are to build on existing infrastructure
- Tourism numbers in RAK could grow to 1.2 million in 2013 following the launch of new hotels
Ras Al Khaimah is making big plans for its infrastructure in order to encourage growth in its local economy.
The United Arab Emirate (UAE) region is preparing to boost its tourism, logistics and industrial markets, a senior government official told Gulf News recently.
Peter J Fort, Senior Economic Advsior to the Government of the Emirate of RAK and Chief Executive Office of RAK Free Trade Zone, told the news provider: “We are going to build on the existing infrastructure to take the Emirate’s economy to its next phase of growth.”
He anticipated tourist numbers to grow by 20% in 2013 to reach 1.2 million, an increase from 1 million in 2012. This is the result of new hotels opening this year, including the Waldorf Astoria, which was featured in last week’s episode of The Apprentice on BBC 1.
Contestants in the business competition had to find decorative pieces to put in the hotel, with the team that had the most items while having spent the least money winning the task.
The Waldorf Astoria, RAK’s first seven-star hotel, is set to open on November 1st and will drive a discerning clientele who is expecting high-quality luxurious facilities from their hotel.
Mr Fort also said there is a focus on the industrial sector, which provides 30% of the local economy. There are plans to open new factories and commercial units in RAK, boosting investment in the Emirate.