(MENAFN- Mid-East Info)

• Ras Al Khaimah's economic growth is expected to accelerate to just above 4% by 2027‐2028, from an estimated 3.5% in 2024
• The Emirate's stable outlook reflects the agency's confidence that economic growth and fiscal positioning will remain strong over the upcoming two-year period

November, 2025, Ras Al Khaimah, UAE: International credit ratings agency Standard & Poor's (S&P) Global has upheld Ras Al Khaimah's rating at 'A/A-1' with a 'stable' outlook, maintaining the same rating from the previous cycle.

U.S.-based S&P Global, one of the 'Big Three' credit-ratings agencies, stated that the Emirate's stable outlook reflected the agency's expectation that Ras Al Khaimah's economic growth and fiscal position will remain strong over the forecast period.

The report cited the“ongoing tourism and infrastructure projects” across Ras Al Khaimah as a key factor that will support economic growth, while also forecasting that“strong performance in tourism, real estate, manufacturing and mining [will] support the growth trajectory”.

A spokesperson for Ras Al Khaimah Government said:“Guided by the vision of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, our Government has moved steadily forward with its ambitious yet solid plans to further enhance its resilient, diversified and vibrant economy, while remaining strategically prudent in its fiscal policy. Maintaining the Emirate's advanced rating and stable outlook embodies global confidence in our economic model, motivating us to keep growing and enhancing our reputation as the ideal place to live, work, visit and invest.”

The international credit ratings agency estimates Ras Al Khaimah's economic growth will accelerate to just above 4% by 2027‐2028, from an estimated 3.5% in 2024, whereas GDP per capita is set to strengthen to about USD32,600 by 2028. The report projects that upcoming tourism projects and related infrastructure spending will help reinforce the Emirate's mining sector, as well as its economic free zones, airport and real estate sector.

Meanwhile, the stable outlook reflects the agency's confidence that Ras Al Khaimah's economic growth and fiscal position will remain strong over the upcoming two-year period, with low debt levels and recurring fiscal surpluses underpinning its fiscal profile.

Ras Al Khaimah, the northernmost of the UAE's seven Emirates, is home to a thriving and diversified economy. The Emirate's GDP composition is split over a variety of sectors, boosting its ability to attract and retain talent and businesses, from SMEs to large international companies.

About Ras Al Khaimah:

Ras Al Khaimah (RAK), the fourth largest Emirate in the UAE, is distinguished by its natural diversity, rich history and forward-thinking vision under His Highness Sheikh Saud bin Saqr Al Qasimi. With a commitment to sustainable development, economic prosperity, social development and innovation, RAK has become an ideal place to live, work and invest.

Strategically located between East and West – with one third of the world's population within four hours' flying time – RAK is a gateway to the Middle East and beyond. Its economy is diverse, with no single sector accounting for more than 27% of GDP. RAK offers a business-friendly environment with customizable services, competitive operating costs, 100% foreign ownership, zero personal income tax and one of the world's lowest corporate tax rates. With world-class infrastructure, RAK is home to over 50,000 companies, including industry leaders such as RAK Ceramics and Julphar. RAKEZ and Innovation City support dynamic growth across industrial, manufacturing and digital sectors, backed by a future-focused economy validated by 'A'-range credit ratings for 15+ years from Fitch and S&P.

RAK has a multicultural society of 0.4 million people from 150 countries, offering a high quality of life, accessible luxury living and a serene coastal lifestyle, with bold hospitality projects led by signature luxury global brands, such as Wynn, Four Seasons, Nobu, Waldorf Astoria and Ritz-Carlton. Projects such as RAK Central will redefine the commercial and residential landscape, while its natural beauty (UAE's highest mountain, beaches and deserts) and rich cultural heritage – dating back 7,000 years – further enhance RAK's universal appeal.

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