Leaders from Ras Al Khaimah Tourism Development Authority (RAKTDA), RAK Hospitality Holding, Marjan Properties and Al Hamra participate in the fifth annual Gulf and Indian Ocean Investment Summit, taking place from 14-16 November at the Al Hamra Convention Centre and Waldorf Astoria, Ras Al Khaimah.
As the global tourism and investment sectors embarks on a programme of recovery, key spokespeople from Ras Al Khaimah will share insights on the Emirate’s robust recovery at this year’s Gulf and Indian Ocean Investment Summit. Ras Al Khaimah Tourism Development Authority (RAKTDA) will also discuss the Emirate’s investment pipeline and how it is adapting to the changing needs of travellers in the new normal.
The fastest growing destination in the region, Ras Al Khaimah was named the Gulf Tourism Capital for both 2020 and 2021 by the Gulf Cooperation Council. Ras Al Khaimah has been a case study in successful COVID-19 management, setting a global benchmark in becoming the first city in the world to secure the Bureau Veritas Safeguard Label and World Travel and Tourism Council’s Safe Travel Stamp. This paved the way for the industry to operate safely, leading to steady and sustained recovery for the destination and renewed confidence for the Emirate’s tourism industry. Remaining resilient throughout the pandemic, Ras Al Khaimah welcomed over 700,000 visitors in the first nine months of 2021. The Emirate also led the region in ADR (average daily rate) and RevPAR (revenue per available room) in 2020 and has witnessed the same healthy performance in ADR and RevPAR figures this year.
Building on this resilience, the Emirate is planning a series of strategic investments for its travel and leisure sector to drive its goal of welcoming 3 million visitors by 2030. Key ventures include plans to develop over 20 sustainable tourism development initiatives across the Emirate, in partnership with RAK Hospitality Holding and RAK Chamber of Commerce and Industry. The new projects span the Emirate and cover four priorities: accommodation, mobility, infrastructure enhancements and new touristic attractions. In addition, a strong pipeline of new hotels is planned including Movenpick, Sofitel, Intercontinental and Radisson, with over 4,000 keys expected to be added to the existing inventory over the next three years.
Underpinning this investment in Ras Al Khaimah’s tourism infrastructure is its recently announced Sustainable Tourism Destination Strategy. Mapping out key steps for securing Ras Al Khaimah’s long-term sustainability, the plan is designed to support the Emirate’s overall tourism growth objectives. Under the Sustainable Tourism Destination Strategy, the nature-based Emirate aims to become the regional leader in environmentally conscious tourism by 2025.
These strategic plans for sustainable development have played a key role in bolstering Ras Al Khaimah’s resilience and building a diversified economy, helping the Emirate retain its official 'A' rating from global credit rating agency Fitch. This continues the level of rating held by the Emirate for 13 consecutive years.
Set to open the conference, Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, comments: “The long-lasting effects of the pandemic have meant that we need to reimagine the entire travel and hospitality sector. Destinations must now learn to operate in a ‘new normal’ and adapt their investment strategies, tourism propositions and ways of working to meet changing traveller needs. In this changing landscape, it is more important than ever that we come together as an industry to share our collective insights and best practice for long-term investment and hospitality development.”
For more details on the Gulf and Indian Ocean Hotel and Investment Summit, visit www.giohis.com. For more information on Ras Al Khaimah please visit www.visitrasalkhaimah.com
