- RAK to increase tourism’s GDP contribution to 10% by 2025 from 5%
- RAK to have 1m annual visitors by end of 2018, 2.9m by 2025
- RAK development progressing fast but seeks to attract more investment
Ras Al Khaimah, United Arab Emirates, April 18, 2018: His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah has delivered the keynote opening speech on day 2 of the 3-day Arabian Hotel Investment Conference, (17 – 19 April 2018).
Held in partnership with Ras Al Khaimah Tourism Development Authority (RAKTDA), the 14th Arabian Hotel Investment Conference 2018 (AHIC) will provide unique insights into modern leadership, forward-thinking investment and new operating models via a stellar line-up of speakers confirmed for the annual gathering for the Middle East’s hospitality investment community.
Excerpt from the speech of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah:
“In a relatively short period of time, Ras Al Khaimah has changed dramatically, from a quiet, agricultural town, where a formal education was hard to come by, to a thriving city with a diverse economy and great educational institutions.
“Our Emirate, our people, our economy and our industries have been on quite an incredible journey.
“In Ras Al Khaimah, if we can do something positive for business, we do it. Ask any of the 13,000 multinational companies from over 100 countries that have set up here.
“Thanks to them, the volume of foreign investment in Ras Al Khaimah since 2000 has exceeded 15 billion dirhams, and there are more than 150 large industrial companies operating here.
We are home to some of the world’s most successful companies, including:
- RAK Ceramics, which supplies Land Rover showrooms across the globe, Emaar, Dubai Airports, Ferrari World, and many more.
- Julphar Pharmaceuticals, which each day produces one million boxes of medicines.
- RAK Rock and Stevin Rock, which provide a combined 75 million tons of material to the building industry across the UAE, Gulf and India every year.”
“We aim to increase tourism’s GDP contribution to 10% by 2025. Already, the sector has been growing at a rate of about 19% year-on-year.
“We will have 1 million visitors by the end of this year in Ras Al Khaimah and we have a target of 2.9 million per year by 2025.
“At Marjan Island, our tourist hub, several projects are under way but there’s scope for further development, both there and across Ras Al Khaimah, if we’re to keep up with demand.
“That is why it is important that Ras Al Khaimah attracts more investors to our growing tourism sector.”
“We live in a dynamic world, where creating wealth, growth, can be good for us all. We are a family of nations.
“When the UAE prospers, when Saudi Arabia prospers, Kuwait, the rest of the GCC and beyond, we all prosper. I see the growth of others as an opportunity for
us, a chance to learn and make progress.
“Saudi Arabia’s incredible vision for its future, we hope that it is a resounding success because that would show the world the true image of Arabs – as thinkers, developers, achievers.”
Taking place at the purpose-built AHIC Village in the grounds of the Waldorf Astoria Ras Al Khaimah, UAE, this 14th edition of AHIC – the first outside Dubai - promises to address the critical issues of innovation, leadership, destination development and industry disruptors amid the macroeconomic outlook from the investors’ perspective.
The event will attract close to 900 hotel investors, major developers, leading financiers, and C-level hotel executives to attend three days of content, networking and events, including live-on-stage interviews with some of the world’s most respected businessmen and hotel leaders and the first AHIC Global Project Showcase, featuring hospitality investment opportunities from around the world.