ADNOC named UAE’s most valuable brand worth $14.2 billion for 5th consecutive year

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ADNOC named UAE’s most valuable brand worth $14.2 billion for 5th consecutive year

ADNOC maintained in 2023 its position as the UAE’s most valuable brand for the fifth consecutive year, according to a new report from Brand Finance, the world’s leading independent brand valuation consultancy.

ADNOC’s brand value increased by 11% year-on-year to reach $14.2 billion in 2023, an ADNOC statement said on Wednesday.

ADNOC Brand Strength Index increased from 79.1 points to 79.4 points, maintaining its “AA+” rating. Globally amongst all brands, ADNOC climbed 28 places to 138th place from 167th in 2022.

Within the oil and gas industry, ADNOC rose one rank to 8th place.

In terms of brand strength, ADNOC is now the 10th strongest oil and gas brand globally, up two places from 12th in 2022.

The continuous growth of ADNOC’s brand value aligns with the leadership directives, the support of the company’s board of directors, and the efforts and dedication of its employees. ADNOC is committed to making today’s energy cleaner, while investing in the clean energies of tomorrow and the company continues to strengthen its position as a reliable and responsible global energy provider.

According to Brand Finance, brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand value is determined through a balanced scorecard of factors, including marketing investment, stakeholder equity, and business performance.

Investments by Dubai Future District Fund advance economic contribution from future-focused start-ups

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Investments by Dubai Future District Fund advance economic contribution from future-focused start-ups

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, chaired the Dubai Future District Fund (DF2) Oversight Committee upon completion of its first year of investment operations.

The meeting reviewed DF2’s first full year of operations and highlighted the rapid progress being made, with the completion of more than a dozen fund and start-up investments from the initial funding commitment of AED1 billion.

Al Olama, who is the Chairman of DF2 Oversight Committee, stated that Dubai and the UAE is keen to provide the best ecosystem to create the newest generation of start-ups and global unicorns, reflecting the visions and directives of the UAE leadership in driving a robust growth in the economy and enhancing the country’s global competitiveness.

He added that Dubai has built technological infrastructure and cutting-edge systems resulting in promoting its reputation around the world as a leading economy empowering start-ups to achieve their potential and enhancing their position as the backbone of many economies and their positive effect on the national and global economy.

Al Olama commended the committee’s efforts in attracting global businesses, supporting start-ups to establish them in Dubai and providing them with state-of-the-art solutions in easing their journey to success. In turn, the impact of these companies will be apparent in the years to come – in supporting sustainable economic growth and enhancing prosperity.

The Minister of State, along with other members of the Oversight Committee – Essa Kazim, Governor of Dubai International Financial Centre (DIFC); Khalfan Belhoul, CEO of Dubai Future Foundation (DFF); and Arif Amiri, CEO of DIFC Authority, congratulated the wider Board and the Investment Committee for helping to catalyse the start-up sector, which is increasing its contribution to Dubai and the UAE’s economy.

DF2 is the region’s first evergreen venture capital fund to specialise in early-stage, high-growth technology start-ups for emerging markets, anchored by leading institutions. More than 1,000 requests have been received from local, regional and global start-ups and other funds looking to expand their capital base.

The Fund, launched in an effort to centralise the Government of Dubai and quasi-government’s participation in the digital economy, is anchored by DIFC, the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, and DFF, whose vision is to make Dubai a leading city of the future and the guiding force behind the Museum of the Future. The Fund has made 13 investments since its establishment.

The Fund focuses primarily on supporting start-up programmes with seed capital and building a scalable tech innovation ecosystem for them to operate in. It also works to attract leading venture capital funds to Dubai as well as already established tech start-ups that would flourish in the environment created by DF2, the Dubai Future District and the wider emirate.

Essa Kazim said, “The results of our first full year of operations are promising. As an anchor investor in the Dubai Future District Fund, we will continue to shape the emirate’s reputation as a global hub for technology and innovation and support start-ups through our comprehensive, world-class ecosystem. In line with our vision to drive the future of finance, which is also an important pillar of the Fund, our efforts are attracting innovative and emerging technology companies and talent from around the world. We now look forward to capitalising on this through 2023 and attracting even more start-ups and positively impacting the economy.”

Khalfan Belhoul commented, “The Dubai Future Foundation aims to help make Dubai one of the world’s leading cities of the future. The Dubai Future District Fund demonstrates how we are reimagining, inspiring and designing Dubai’s future in collaboration with public and private sector partners. The Fund is a key driver of the start-up ecosystem as it enables local and global talent to embrace the Fourth Industrial Revolution’s solutions. The Fund acts as a catalyst, empowering entrepreneurs to build a more sustainable future based on innovation.”

Belhoul added, “We look forward to supporting more start-ups that have the potential and foresight to drive Dubai’s economy and contribute to enhancing the emirate’s position as a global destination for partnerships, research and development, and designing the future.”

Arif Amiri remarked, “The global economy is expected to more than double by 2050, enabled by the rise in innovative technologies. The Dubai Future District Fund and DIFC are ensuring Dubai captures a significant share of this growth by providing start-ups, investors, the public sector and private firms with a new opportunity to work together. Funding future-focused start-ups will help shape sustainable economic growth in Dubai and the region. Additionally, the investments made by the fund will result in a broader positive impact on millions of people and economies globally. As the fund’s investment portfolio grows, we look forward to seeing more start-ups prosper while cementing Dubai’s reputation as a leading global hub for innovation and technology.”

The Fund is mandated to support future economy companies who will operate out of the Dubai Future District. They will have the potential and foresight to drive Dubai’s economy and contribute to enhancing the emirate’s position as a preferred destination for global talent and entrepreneurship through initiatives and projects that are aimed at turning Dubai into a nexus for business and an integrated investment environment that offers exceptional facilities. In addition, the Fund will look to back Series A+ start-ups, tackling a wider regional mandate in the development of the future economy and venture capital funds that have presence and investments in Dubai.

UAE bourses continue to rally

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UAE bourses continue to rally

UAE main bourses continued to rally Tuesday led by a hike in main lender FAB, which increased 0.37%, and real estate developer Aldar Properties, which closed 0.68% up, in Abu Dhabi, with utility provider Dubai Electricity & Water Authority in Dubai up 3.460% on Monday’s session.

In the capital, FADX 15 increased 0.090% to 10,273.210 pts, with Americana ending the session favourably at AED3.450, 2.370% up, ADQ, under the brand known as Asmak, closing 0.02% higher at AED405.800, and ALPHADHABI up to AED26, or 0.460% higher.

Dubai Financial Market (DFM) followed suit, closing at a two-month high of 3,357.530 pts, led by DEWA, blue chip Emaar, which closed 0.17% up, and SALIK, which ended 0.06% up.

China’s FDI inflow up 6.3 pct in 2022

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China’s FDI inflow up 6.3 pct in 2022

Foreign Direct Investment (FDI) into the Chinese mainland, in actual use, expanded 6.3 percent year-on-year to 1.23 trillion yuan in 2022, state news agency (Xinhua) said on Wednesday.

In US dollar terms, the FDI inflow went up 8 percent year-on-year to US$189.13 billion, the Ministry of Commerce said.

Hikvision to showcase advanced AIoT solutions and 3D digital display technology at Intersec 2023 in Dubai

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Hikvision to showcase advanced AIoT solutions and 3D digital display technology at Intersec 2023 in Dubai

Hikvision will be presenting its innovative technology solutions at Intersec 2023. The event is the largest security exhibition in the Middle East region, and will take place at the World Trade Center in Dubai, from January 17-19, 2023.

With the theme of “Connect, Converge & Collaborate for a Brighter Future”, Hikvision will demonstrate how organizations in the region can accelerate their digital transformation journeys and achieve their business goals with advanced AIoT technologies.

For the first time at Intersec, Hikvision will also be featuring its Naked Eye 3D LED display with ‘multi-view’ technology. This means attendees can view 3D video images, regardless of where they are standing. Hikvision will also be presenting several other advanced 2D LED display models that offer an industry leading viewing experience.

Showcasing Hikvision’s vertical solutions

The Hikvision team will be demonstrating innovative smart education solutions at the show, which provide interactive classroom and remote learning experiences, along with solutions for digitalized building management. 

Aside from this, the team will display a wide range of other Hikvision vertical solutions to customers and prospects, including home and small business solutions that use AI-powered video technologies to protect people and assets; and retail, logistics, and manufacturing solutions that enhance process efficiency and site security. Other Hikvision solutions on display will include municipal governance, traffic, building, and energy management.

Unveiling Hikvision’s open, collaborative approach to AIoT innovation

At Intersec 2023, Hikvision will also showcase its open, collaborative approach to delivering AI innovation. Central to this strategy is Hikvision’s Embedded Open Platform (HEOP) 2.0, which gives Hikvision partners a unified, open environment for application operation and management. Using HEOP 2.0, Hikvision partners can deploy and run their apps and algorithms on Hikvision’s AIoT hardware products, helping customers in numerous vertical industries better meet their security, efficiency, and performance goals. 

Binson Xu, Regional President of Hikvision MENA, says, “We look forward to meeting our clients and partners at Intersec 2023. The latest AIoT solutions from Hikvision are helping organizations across the region to improve employee and customer safety, increase operating efficiency, and achieve business goals. We are also glad to see how we can support our customers to save energy and reduce their carbon emissions.”

To discover more about Hikvision solutions and product, please visit the team at booth SA-C11 at the World Trade Center in Dubai.

Dubai records over AED2.2 bn in realty transactions Monday

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Dubai records over AED2.2 bn in realty transactions Monday

Dubai real estate market recorded 425 sales transactions worth AED1.23 billion, in addition to 114 mortgage deals of AED965.96 million, and 17 gift deals amounting to AED72.5 million on Monday, data released by Dubai’s Land Department (DLD) showed.

The sales included 398 villas and apartments worth AED1.04 billion, and 27 land plots worth AED187.77 million. The mortgages included 84 villas and apartments worth AED248 million and 30 land plots valued at AED717.96 million, bringing the total realty transactions of today to over AED2.2 billion.

Dubai’s annual real estate transactions cross AED500bn in 2022

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Dubai’s annual real estate transactions cross AED500bn in 2022

 Dubai’s annual real estate transactions have crossed the milestone of half a trillion dirhams for the first time in 2022, as the sector witnessed transactions worth a record AED528 billion in 2022, a 76.5 percent increase from 2021.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said, “The exceptional performance of the real estate sector reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai one of the world’s top three cities. The results also support the goal of the Dubai Economic Agenda D33 launched by His Highness to double the size of Dubai’s economy by 2033. The sector is a key pillar of Dubai’s strategy for sustainable development and a vital driver of its 2040 Urban Master Plan.”

“Dubai remains one of the world’s most attractive investment destinations due to its stable economy, strong financial fundamentals and ability to constantly find new opportunities for growth. Moreover, global investors, institutions and businesses continue to have high confidence in Dubai’s economy due to its growing profile as one of the best metropolises to live and work, its exceptional infrastructure and supportive regulations,” he added.

A total of 122,658 real estate transactions were registered in the emirate in 2022, an increase of 44.7 percent from 2021. The past year also saw 80,216 investors registering 115,183 new real estate investments valued at AED264.15 billion, an annual growth of 59.5 percent in volume and 78.4 percent in value. The number of investors in 2022 grew 53 percent compared to 2021.

The real estate sector’s remarkable growth signifies Dubai’s rising stature as the ‘city of the future’ and a major gateway to tap vast opportunities in some of the world’s fastest-growing emerging markets. In addition, Dubai’s state-of-the-art logistics services, business-friendly environment, ability to attract talent and foster innovation, high levels of ease of doing business and exceptional safety and stability have made it a pivotal global trade and investment hub.

The Dubai economy continues to witness strong growth despite the challenging global economic situation. In the first nine months of 2022, the emirate’s GDP grew 4.6 percent year-on-year to reach AED307.5 billion. The recently launched Dubai Economic Agenda D33 features total economic targets of AED32 trillion over the next 10 years.

Sultan Butti bin Mejren, Director-General of Dubai Land Department, said, “Guided by the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the emirate’s real estate sector has demonstrated its ability to sustain its rapid growth and enhance its attractiveness as an investment magnet. Driven by close cooperation between public and private stakeholders, the sector is set to achieve even greater growth in the future.”

Bin Mejren added, “Early in 2023, we announced our Strategic Plan 2026, which charts a roadmap for establishing Dubai as one of the world’s best real estate markets by ensuring effective governance, promoting innovation, harnessing the latest technologies to develop new real estate solutions and creating a data-driven sector that promotes investment confidence. The Dubai Land Department has also worked to enhance the real estate investment environment by providing seamless services, introducing supportive regulations, fostering a digital ecosystem, consolidating various sources of data through partnerships and raising the capabilities of our human resources to maintain the highest levels of service excellence. Further, we have maintained a strong focus on implementing global standards and best practices in the local real estate market.”

DEWA showcases key projects, innovative initiatives at World Future Energy Summit 2023

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DEWA showcases key projects, innovative initiatives at World Future Energy Summit 2023

Dubai Electricity and Water Authority (DEWA) is showcasing its key projects and innovative initiatives in sustainability and clean and renewable energy, at the 15th World Future Energy Summit (WFES), which is held from 16-18 January 2023.

This is part of the Abu Dhabi Sustainability Week (ADSW) hosted by the Abu Dhabi Future Energy Company (Masdar). DEWA is the Opening Ceremony Associate Partner of ADSW.

DEWA invited the public to visit its stand in Hall number 5 (Energy Hall) at the Abu Dhabi National Exhibition Centre (ADNEC) to learn about its key projects in the renewable and clean energy sector and its smart initiatives, as well as its efforts to advance the sustainable development and shift towards a sustainable green economy.

The Mohammed bin Rashid Al Maktoum Solar Park

Through its stand at WFES, DEWA highlights the latest developments in the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world using the Independent Power Producer (IPP) model. It contributes to achieving the Dubai Clean Energy Strategy 2050 and Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of Dubai’s total power capacity from clean energy sources by 2050.

The current production capacity of the solar park is 2,027 megawatts (MW) using solar photovoltaic and concentrated solar power (CSP) technologies. This is about 14 percent of Dubai’s energy mix, which has reached 14,517MW.

Visitors to the DEWA stand can learn about the latest CSP technologies that DEWA uses in the 950MW 4th phase of the solar park. This is the largest single-site solar CSP plant in the world. It combines CSP and solar photovoltaic technologies. This phase uses three hybrid technologies: 600MW from a parabolic basin complex (three units of 200MW each), 100MW from the world’s tallest solar power tower at 262.44 metres (based on Molten Salt technology), and 250MW from photovoltaic solar panels. On its completion, the project will have the largest thermal storage capacity in the world of 15 hours, allowing for energy availability around the clock. The 4th phase will provide clean energy for around 320,000 residences and reduce 1.6 million tonnes of carbon emissions yearly.

The Green Hydrogen project

DEWA’s stand at WFES displays the Green Hydrogen project, which DEWA implemented in cooperation with Expo 2020 Dubai and Siemens Energy at the Mohammed bin Rashid Al Maktoum Solar Park. It is the first of its kind in the Middle East and North Africa to produce hydrogen using solar energy. The pilot project, which covers an area of about 10,000 square metres, has been designed and built to be able to accommodate future applications and test platforms for various uses of hydrogen, including energy production and transportation.

The hydroelectric power plant in Hatta

DEWA’s stand also displays the pumped-storage hydroelectric power plant that DEWA is building in Hatta. It will have a production capacity of 250 MW, a storage capacity of 1,500 megawatt-hours. This is the first station of its kind in the Arabian Gulf region. The Hydroelectric power plant will be an energy storage facility with a turnaround efficiency of 78.9 percent that utilises the water stored in the upper dam, which is converted to kinetic energy during the flow of water through the 1.2-kilometre subterranean tunnel. This kinetic energy rotates the turbines and converts mechanical energy to electrical energy which is sent to DEWA’s grid within 90 seconds in response to demand. To store energy, clean energy generated at the Mohammed bin Rashid Al Maktoum Solar Park will be used to pump the water through this tunnel back to the upper dam by converting the electrical power to kinetic energy making the whole project 100 percent renewable.

The Innovation Centre

Visitors to the stand will also learn about DEWA’s Innovation Centre at the Solar Park in Dubai. It aims to spread a culture of innovation among organisations and individuals. It also highlights the sectors that will lead the innovation process in the future, as well as develop the capabilities of the next generation of innovators. The Innovation Centre offers visitors the opportunity to watch innovative shows using drones and hologram technology, and try the autonomous bus ride. Using metaverse technology, the Innovation Centre offers its visitors a unique experience that takes them on a virtual tour of the Mohammed bin Rashid Al Maktoum Solar Park.

The Green Charger

DEWA’s stand highlights the Green Charger for electric vehicles. DEWA has installed about 350 charging stations across Dubai to support green mobility in the Emirate and the UAE as well as encourage individuals and organisations to buy environmentally friendly electric vehicles.

Digital DEWA

DEWA’s stand also includes several subsidiaries of Digital DEWA, the digital arm of the DEWA, which aims to redefine the concept of a utility and build a new digital future for Dubai. Digital DEWA focuses on four pillars: launching advanced solar energy technologies in Dubai, operating a renewable energy network that uses innovative energy storage technologies, integrating clean energy and storage, and expanding the use of integrated solutions for artificial intelligence. This is achieved through the subsidiaries of Digital DEWA: Data Hub Integrated Solutions (Moro), InfraX, and DigitalX.

EWEC’s Q4 2022 Clean Energy Certificates auction yields biggest results since inception

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EWEC’s Q4 2022 Clean Energy Certificates auction yields biggest results since inception

Emirates Water and Electricity Company (EWEC), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, today announced that its most recent Clean Energy Certificates (CECs) auction that took place in December 2022 was the most successful auction to date, selling over 9 million CECs to Abu Dhabi based entities across different sectors and industries.

Introduced by the Abu Dhabi Department of Energy (DoE), the CEC scheme is a strategic initiative that provides Abu Dhabi companies the ability to adopt a reliable system that verifies their clean energy consumption claims, and to support the UAE’s transition towards a sustainable, decarbonised economy in line with the UAE Net Zero by 2050 strategic initiative.

Othman Al Ali, Chief Executive Officer of EWEC, said, “Following the CECs scheme’s first-year anniversary last September, our Q4 2022 auction results are clear proof of the scheme’s continued success in enabling major Abu Dhabi based entities to decarbonise their electricity consumption. The innovative scheme is rapidly evolving and continues to attract multiple companies from diverse sectors to support the UAE in achieving its economic and sustainability goals.”

“As the UAE capital hosts Abu Dhabi Sustainability Week, EWEC is proud to be supporting and enabling the advancement of the country’s decarbonisation objectives in line with the UAE Net Zero by 2050 strategic initiative. We are sure that over the course of 2023 the CECs scheme will continue to thrive as more key organisations target this internationally certified programme that supports their sustainability goals,” he added.

EWEC is the principal enabler for implementing Abu Dhabi’s CECs scheme, acting as the Single Registrant and Auction Operator to establish a primary market for this new instrument. EWEC ensures that all licensed renewable and clean energy power generation plants are in the International Renewable Energy Certificate (I-REC) registry, offering Abu Dhabi based companies a platform to acquire clean energy certificates and verify their sustainability credentials.

CECs are tradable digital certificates issued by the DoE in units of 1 MWh. The scheme is currently the only accredited instrument in Abu Dhabi to prove ownership of the environmental and economic benefits achieved by consuming clean energy.

RAS AL KHAIMAH RECORDS ITS HIGHEST VISITOR NUMBERS IN 2022

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RAS AL KHAIMAH RECORDS ITS HIGHEST VISITOR NUMBERS IN 2022

Ras Al Khaimah welcomed over 1.13M visitors in 2022. Results exceed 2019 pre-pandemic levels, with highest ever number of annual arrivals to the Nature Emirate and a 15.6% increase on 2021.

From Balanced Tourism – its new sustainability strategy – to the announcement of Wynn, the first ever integrated resort in the region, the Emirate’s strong performance is bolstered by diversification, community and sustainability to drive its continued growth as a world-class tourism destination.

Watch the 2022 highlights video here. 

Ras Al Khaimah Tourism Development Authority (RAKTDA) announces its highest ever annual visitor numbers, with the Emirate welcoming over 1.13M overnight arrivals in 2022, a total increase of 15.6% vs 2021. The results exceed pre-pandemic levels indicating recovery and resilience in a volatile year.

Despite geopolitical and economic challenges, Ras Al Khaimah has become one of the fastest destinations to bounceback. In addition to its record visitor numbers, key 2022 achievements include:

  • Launched Balanced Tourism – its roadmap to becoming the regional leader in sustainable tourism by 2025
  • Announced the largest foreign direct tourism investment project in partnership with Wynn Resorts, Marjan and RAK Hospitality Holding
  • Intercontinental Hotels Group (IHG), Mövenpick and Radisson brands entered the destination for the first time, marking a 17% annual growth in hotel supply to over 8,000 keys
  • 5,867 keys scheduled to be added over the next few years, a 70% increase on current inventory – among the highest growth rates in the UAE
  • 40% increase in international visitors driven by 90+ roadshows, trade fairs, workshops and media events across 24 markets
  • Recognition in Time magazine as one of the World’s Greatest Places of 2022 and CNN Travel’s best destinations to visit in 2023
  • Opened new attractions, including Jais Sledder, which has seen more than 100,000 visitors since its February opening, and the longest developed hiking trails in the Emirate
  • Achieved a visitor satisfaction score (NPS) of over 80% – far above the industry average of 51
  • Hosted over 50 events including the prestigious Global Citizen Forum, 15th edition of the Ras Al Khaimah Half Marathon, Arab Aviation Summit, DP World Tour and secured the 2023 Minifootball (WMF) World Cup for the first time in the UAE
  • Two Guinness World Record titles at the New Year’s Eve fireworks and drone display
  • Authority named one of the Top 10 Great Places to Work in the Middle East 2022

Commenting on the Emirate’s strong tourism performance in 2022, Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, said: “It has been quite a year. From January’s announcement of the multibillion-dollar integrated Wynn resort – a project that will usher in a new era of economic development through tourism – to securing two Guinness World Record titles for our New Year’s Eve fireworks and drone display, we have shown just how dynamic we are as a destination. Our success has been led by our agility and responsiveness – and the fact we think like a community, shaping our experiences to appeal to visitors and residents. With a determined focus on diversification, accessibility and sustainability, we are on track for even bigger things in 2023.”

Strong December performance

The impressive full-year figures follow a strong December performance in which the Emirate welcomed its highest ever footfall in one month, with over 128,000 visitor arrivals, representing a 23% increase vs. December 2021. This was bolstered by the Emirate’s record-breaking New Year’s Eve fireworks and drones display, which saw Ras Al Khaimah set two GUINNESS WORLD RECORDS™ titles for of the ‘largest number of operated multi-rotors/drones with a simultaneous fireworks display’ and the ‘largest aerial sentence formed by multirotors/drones. The festivities drew over 30,000 visitors with public events and hotels across the Emirate fully booked, making it the most visited show to date.

Sustainable agenda for 2023 and beyond

Under its bold new approach to sustainability – Balanced Tourism, the Emirate will become the regional leader in sustainable tourism by 2025, placing all aspects of sustainability at the centre of its investment, from environment and culture to conservation and liveability.

As part of this, the tourism authority aims to award more than 20 businesses with tourism certifications in the first year with the ultimate goal of obtaining the internationally recognised “Sustainable Tourism Destination” certificate for Ras Al Khaimah in 2023.

Promoting employee well-being, the tourism authority was named one of the Top 10 Great Places to Work in the Middle East 2022 – the highest placed government entity – as well as one of the Best Workplaces for Women and a Great Place to Work in 2021, the first and only organization in Ras Al Khaimah to be awarded this certification. The Authority has also introduced RAKFAM, a series of initiatives aimed at enriching connectivity, community life and facilities for tourism sector employees in the Emirate.

Driving international tourism

2022 also saw a 40% increase in international visitors, with key source markets including Kazakhstan, Russia, the United Kingdom, Germany and Czech Republic. This was driven by a series of partnerships with airlines and leading tour operators to target emerging and growing source markets, supported by 90+ events and roadshows in 24 markets worldwide. In a further boost for the Emirate’s accessibility, Ras Al Khaimah also received three luxury cruises in 2022, welcoming over 2,500 passengers and crew. With a focus on developing its burgeoning cruise sector, the Emirate aims to attract 50 cruise ship calls each season, and over 10,000 passengers within the next few years.

Boosting the tourism and hospitality offering

New hotels and resorts opened in 2022, increasing the Emirate’s inventory by 17% to reach over 8,000 keys. The Intercontinental Hotels Group (IHG), Mövenpick and Radisson brands entered the destination for the first time with the opening of the InterContinental Mina Al Arab, Mövenpick Resort Al Marjan Island and the Radisson Resort Ras Al Khaimah Marjan Island.

With 19 upcoming properties, including global brands like Marriott, Millennium, Anantara and Sofitel, and 5,867 keys in the pipeline over the next few years, a 70% increase versus current inventory and one of the highest development rates in the UAE, Ras Al Khaimah’s tourism vision continues to gain momentum.  A major addition will be the multibillion-dollar integrated resort development with Wynn Resorts in 2026, announced early last year. The multipurpose integrated resort marks the largest-of-its-kind foreign direct investment in Ras Al Khaimah and will include 1,000+ rooms, shopping, meeting and convention facilities, spa, more than 10 restaurants and lounges, extensive entertainment choices, and gaming area.

Another key feat for last year was Ras Al Khaimah’s inclusion in Time magazine’s World’s Greatest Places of 2022 – a highly coveted list of 50 must-visit global destinations – in recognition of its adventure offerings and stunning, unique topography and geodiversity. To further bolster the Emirate’s nature positioning and attract both international and domestic visitors, the Ras Al Khaimah Tourism Development Authority also announced the opening of key new sustainable attractions, including the Jais Sledder, the region’s longest toboggan ride, which has welcomed over 100,000 visitors since opening in February.

Growing Ras Al Khaimah’s position as a world-class events hub

The Emirate’s position as a leading sporting destination went from strength to strength, with over 50 events hosted. Highlights included the 15th RAK Half Marathon, 23rd Annual Gumball 3000 rally, the first-ever Middle East route for the world-renowned supercar rally, the UAE Tour cycling and the DP World Tour golf championship. Ras Al Khaimah also won the competitive bid to host the 2023 Minifootball World Cup, beating Budapest and Manila to add the mega international football competition to its growing roster.

Additionally, the Emirate hosted numerous events and conferences, including the Arab Aviation Summit for the second consecutive year and the first Pacific Asia Travel Association Annual Summit in the Middle East. It also secured a three-year partnership with the Global Citizen Forum to host its prestigious annual summit.

To find out more about the wealth of experiences in Ras Al Khaimah, please visit visitrasalkhaimah.com or visitjebeljais.com and or check out the Emirate’s social platforms Instagram, YouTube and Facebook.

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