RAK real estate market to experience a surge of luxury homes and hotels in the coming years with tourism growth in the Emirate.
Ras Al Khaimah International Airport has experienced remarkable growth, recording a 28% increase in arrivals in 2024, nearly doubling its 2022 figures and welcoming over 661,000 passengers. This surge is largely attributed to enhanced flight connectivity, with direct flights established from nine cities, including Bucharest, Prague, Moscow, Almaty, Tashkent, Warsaw, Katowice, Jeddah, and Hyderabad, significantly boosting the emirate’s tourism sector.
Raki Phillips, CEO of Ras Al Khaimah Tourism, emphasized the airport’s focus on improving connectivity as part of the city’s growth strategy. He noted that Ras Al Khaimah is increasingly recognized as a premier tourism destination across various markets, including India, China, Western Europe, and the GCC, while remaining the top choice for domestic tourism in the UAE.
Tourism revenue in Ras Al Khaimah increased by 12%, driven by higher visitor spending and a longer average stay of seven nights among international tourists. The emirate’s diverse attractions, such as cultural heritage, beaches, and mountain adventures, have contributed to this growth. A collaborative initiative with Musandam in Oman, branded as the “See Double” summer campaign, allowed visitors to enjoy unique experiences in both locations.
The MICE (Meetings, Incentives, Conferences, and Exhibitions) segment also saw a 15% increase, reflecting the emirate’s diversification beyond traditional offerings. Phillips highlighted that the rise in MICE visitors’ marks Ras Al Khaimah’s evolution into a hub for business events and conferences, which are vital for the local economy.
In line with its vision to become a “Destination of the Future,” Ras Al Khaimah is prioritizing accessibility and inclusivity. Collaborating with Sage Inclusion, the emirate is working to improve its facilities for travelers with mobility, cognitive, and sensory challenges, ensuring a welcoming environment for all.
Looking ahead, Ras Al Khaimah aims to attract 3.5 million visitors annually by 2030, which will involve doubling the number of hotel rooms to accommodate this ambitious goal.
RAK real estate market can perceive to have growing demand of luxury homes and hotels to accommodate this tourism spur!!
