Tourism boost aids emirate’s economy
Ras Al Khaimah’s economy achieved GDP growth of 4.2 per cent to reach nearly Dhs27 billion in 2014, according to a new report by the Department of Economic Development. Manufacturing remained the largest contributor, accounting for 34.8 per cent of GDP. But it also found real estate and the tourism sectors also contributed 14 per cent and ten per cent respectively. RAK’s Tourism Development Authority (RAK TDA) is promoting the emirate in China and has signed a deal with China’s largest online travel agency. Haitham Mattar, CEO of RAK, on Friday said the emirate hopes to welcome one million visitors in 2018, up from about 740,000 last year.