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GDP Outlook

  • tour-icon1

    200%

    The economy of Ras Al Khaimah’s
    growth over the past decade

  • tour-icon2

    $9.8 billion

    RAK GDP, 2018;
    growing at 3% p.a

  • tour-icon3

    3-4%

    of the emirate’s GDP is attributed to the tourism sector

Direct tourism contribution to the GDP of the United Arab Emirates from 2012 to 2028 (in billion AED)*

Value in billion United Arab Emirate Dirham

Tourism is a significant contributor to the UAE’s economy

quick facts

REASONS TO
INVEST IN RAK

Even as it remains true to its rich heritage and natural resources, Ras Al Khaimah is constantly evolving and moving forward. The integrity of this approach is certainly an added incentive for investors

1.12m

Tourist
arrivals (FY 2019)

4,015

Rooms under
development

3.58m

Tourist
nights (FY 2019)

64

Kilometers
of beach

3.21

Tourist average
length of stay

1,934

Meters elevation
for Jebel Jais

6,673

Hotel
rooms

45

Minutes from
Dubai Intl. Airport
growth-trend-2

Growth trends

RAK has attracted

1.2 million

visitors in 2019 and is on track to achieve the arrival target for 2025

Revenue contribution to GDP target for 2025

tour-icon4 AED 3.5 billion

group-208 20,000

Required rooms

INTERNATIONAL
PERFORMANCE
BY OCCUPANCY

Ras Al Khaimah performance

Stable occupancy of 74%, with an ADR* of $ 154, over the past 3 years compared to 23 cities.

Demonstrates that Ras Al Khaimah is steadily developing as an attractive destination.

Investors have taken notice of the government strategy to foster the development of the entire emirate via projects like the world’s longest zipline and the viewing deck, as well as a variety of others that support a continued growth trajectory.

*Average Daily Rate
Source: JLL, Hotel Investment Study, 2019

Top 10 destinations
in occupancy

INTERNATIONAL PERFORMANCE BY REVPAR

Relative Performance
The RevPAR performance achieved in Ras Al Khaimah between 2016 and 2018 positions the destination amongst the top markets

Compared to prime European leisure destinations
Ras Al Khaimah has performed on par with some of the world’s most popular destinations.

Compared to other European destinations Ras Al Khaimah’s hotel market is generally outperforming even established European destinations in terms of top-line performance.

*Revenue Per Available Room
Source: JLL, Hotel Investment Study, 2019

RevPAR: $119

PROFITABILITY LEVELS

Ras Al Khaimah top 3 destination in the 5-star gross operating profit margin

Ras Al Khaimah Fujairah, Maldives, Dubai, Muscat, Salalah, Sardinia, Dubrovnik, Mallorca, Abu Dhabi, Goa, Phuket, Seychelles, Algarve, Ibiza, Marbella, Athens, Cancun, Punta Cana, Nice, Bahrain, Sharm El Sheikh, Cannes, Canary Islands

image-30 image-30 image-30 image-30 image-30

5* hotel performance
Affordable labor expenses, coupled with the high RevPAR performance, ensure that Ras Al Khaimah can achieve the highest operating margins

Ras Al Khaimah top 10 destination in the 4-star gross operating profit margin

Cancun Ras Al Khaimah Fujairah, Abu Dhabi, Dubai, Goa, Phuket, Sardinia, Muscat, Salalah, Dubrovnik, Ibiza, Mallorca, Punta Cana, Athens, Marbella, Canary Islands, Nice, Algarve, Maldives, Sharm El Sheikh, Cannes, Seychelles, Bahrain

image-30 image-30 image-30 image-30

4* hotel performance
Aside from Cancun, Ras Al Khaimah records the highest GOP margin in the 4-star hotel segment.

Ras Al Khaimah top 3 destination in the 3-star gross operating profit margin

Ras Al Khaimah Cancun, Fujairah Dubai, Abu Dhabi, Salalah, Muscat, Goa, Phuket, Dubrovnik, Mallorca, Punta Cana, Athens, Marbella, Canary Islands, Ibiza, Nice, Algarve, Sharm El Sheikh, Bahrain, Maldives, Cannes, Seychelles

image-30 image-30 image-30

3* hotel performance
Ras Al Khaimah records the highest GOP margin in the 3-star hotel segment.

Source: JLL, Hotel Investment Study, 2019

DIVERSIFIED SOURCE MARKET

International vs domestic visitor arrivals, 2019

The new strategic plan by the RAK Tourism Development Authority (RAKTDA) targets a more diversified tourist market base that stabilizes demand and reduces exposure to a small number of markets.

aero-icon 61%
International Arrivals

car-icon-2 39%
Domestic Arrivals

International source markets

  • Russia MASTER 94703
  • India MASTER
  • Germany MASTER
  • UK MASTER
  • Kazakhstan MASTER
  • Egypt MASTER
  • Czech Rep MASTER
  • Poland MASTER
  • Nordics MASTER
  • Oman MASTER
  • Others MASTER 256,568

Market share

CURRENT ACCOMMODATION SUPPLY

Ras Al Khaimah (JAN 2021)
3,725
Hotel 5 Stars
image-34 image-34 image-34 image-34 image-34
86
Hotel 2 Stars
image-34 image-34
176
Guest Houses
1,294
Hotel 4 Stars
image-34 image-34 image-34 image-34
138
Hotel 1 Star
image-34
418
Apartments
764
Hotel 3 Stars
image-34 image-34 image-34
72
Holiday Villas

As of Jan 2021, Ras Al Khaimah has a total inventory of 6,673 ROOMS, including 6,007 hotel keys at all rating levels (5-star to 1-star) and 666 other accommodation rooms such as hotel apartments, guest houses and holiday villas.

FUTURE ACCOMMODATION SUPPLY

Future supply (room keys) by category (2021 - 2023)

As of Dec 2020, we recorded a total of 4,015 ROOM KEYS under development in Ras Al Khaimah. This will bring new international brands to the destination over the next few years, such as The Address, Radisson, InterContinental, Marriott, Movenpick and Four Points by Sheraton.

Hotel room keys
in pipeline (2021 - 2023)

  • 2021 1,500

  • 2022 1,456

  • 2023 1,059