Emirati women leading in Artificial Intelligence, Entrepreneurship, and Leadership
VIM Solar Robotics to launch its first GCC facility in Ras Al Khaimah
Shubam Aggarwal & Siddharta Banerji:
Ras Al Khaimah: The Future Hub for Global Tourism and Investment
How UAE is Reshaping Its Economy for Sustainable Growth?
Explore the top destinations, best-value spots, and emerging travel trends for the year
UNDER THE PATRONAGE OF HH Sheikh Saud bin Saqr Al Qasimi
UAE Supreme Council Member and Ruler of Ras Al Khaimah
HOSTED BY
27 - 28 NOVEMBER 2024
Al Hamra International Exhibition & Conference Center, Ras Al Khaimah, UAE
CREATE AND CONTRIBUTE TO THE SUSTAINABLE ENERGY GOALS OF THE FUTURE
The Government of Ras Al Khaimah is committed to sustainable energy as a key source of competitiveness of its economy, in line with the emission targets of the UAE, and in contribution to global climate mitigation and adaptation efforts.
Accordingly, Ras Al Khaimah Municipality will be hosting RAK Energy Summit 2024, a main event to discuss energy transition and decarbonization priorities and best practices of the region.
Held under the patronage of HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, the Summit will bring together international thought leaders and decision-makers from the government and the private sector around the theme “Create and contribute to the sustainable energy goals of the future”. The agenda includes crucial topics such as city-level approaches to the energy transition, smart technologies, artificial intelligence, fuels and grids of the future, sustainable mobility, decarbonization of hard to abate industries, and others.
Mark your calendars to attend the event on November 27-28, 2024 at Al Hamra International Exhibition and Conference Center, Ras Al Khaimah, UAE.
HE DR AMNA BINT
ABDALLAH AL DAHAK
UAE MINISTER OF CLIMATE CHANGE AND ENVIRONMENT
HH SHEIKH SAUD BIN SAQR AL QASIMI
UAE SUPREME COUNCIL MEMBER AND RULER OF RAS AL KHAIMAH
HE AMBASSADOR MAJID AL SUWAIDI
CHIEF EXECUTIVE OFFICER, ALTÉRRA AND DIRECTOR GENERAL & SPECIAL REPRESENTATIVE, COP28 PRESIDENCY AND INFRASTRUCTURE
BIN SHEKAR ALZAABI DIRECTOR GENERAL RAS AL KHAIMAH MUNICIPALITY
HE RAZAN AL MUBARAK
UN CLIMATE CHANGE HIGH-LEVEL CHAMPION FOR COP28
HE SHARIF ALOLAMA
UNDERSECRETARY FOR ENERGY AND PETROLEUM AFFAIRS
UAE MINISTRY OF ENERGY AND INFRASTRUCTURE
HE YOUSIF AL ALI
CHIEF EXECUTIVE OFFICER ETIHAD WATER AND ELECTRICITY (ETIHADWE)
RAK Business issued by Ras AlKhaimah Department of Economic Development to support and develop the business environment and highlight best practices in Ras Al Khaimah.
SUPERVISION
SH. Mohamed bin Kayed AlQasimi
EDITOR IN CHIEF
Dr. Abdulrahman Alshayeb Alnaqbi
MANGAGING EDITOR
Aisha Obaid Alayyan
EDITORS
Nebras Shafik AboZidan
Mayyasa Sultan AlKendi
Musa Abdel Moneim Metwally
NEW GENERATION TEAM
Khawla Ibrahim
Abdulaziz Alelewi
Zina Abboud
Zainab Shieha
Dareen Abu AlKheer
Maher Safyeldin
The topics mentioned express the opinion of its author, and do not necessarily represent the opinion of the Department of Economic Development in Ras Al Khaimah. Despite efforts to investigate accuracy, the magazine does not accept responsibility for any errors in the information provided.
VISION:
Ras Al Khaimah, the preferred destination for business.
MISSION:
Organizing economic activities and augmenting efforts for business growth and sustainability in a competitive environment that achieves sustainable economic development in the Emirate.
STRATEGIC OBJECTIVES:
• Promote diversified and sustainable economic growth
• Contribute to the organization of the business sector according to the global standards.
• Developing the services provided to clients, strategic partners and the business community.
• Expanding and enhancing the institutional efficiency of institutional support services and excellence and boosting the culture of creativity and knowledge.
INSTITUTIONAL VALUES:
• Positive Citizenship: Taking responsibility and meeting all customers’ needs and beyond- If possible.
• Institutional happiness: Continuously strive to win the happiness of our employees, customers, partners, and community.
• Creativity and Innovation: We want our employees to take initiative with every new, creative and innovative idea.
• Integrity and Transparency: We deal transparently with all stakeholders within an integrated institutional governance framework.
• Sharing Knowledge: One team with unified knowledge we all share.
RAK DED aims to achieve sustainable growth by strengthening partnerships, connecting businesses, and leveraging global experiences to build strong brands that attract customers and create new opportunities for success
Dr. AbdulRahman Al-Naqbi
Inspired by the Second Entrepreneurship Forum
The Department of Economic Development in Ras Al Khaimah seeks to achieve an ambitious vision of promoting sustainable economic growth and developing a dynamic and attractive business environment. Creating an ideal environment encourages the building of strategic partnerships, augments the Emirate’s vision, and facilitates communication between business owners. Investments, therefore, are enhanced, new projects are developed, and economic diversification is fostered.
In this context, business networking comes as a vital tool that supports the Department’s strategic objectives. This is accomplished by creating platforms for communication and cooperation, attracting local and international talents, and enhancing the transfer of knowledge and expertise between companies in a way that stimulates growth.
Strengthening partnerships between sectors, whether governmental, private or nonprofit, contributes to supporting economic integration and enabling Ras Al Khaimah to compete in global markets. Each new partnership can be a beacon of innovation that help tackle challenges faced by businesses. In a world of rapid changes and increasing challenges, it has become necessary to link our business to global practices that have proven successful.
Benefiting from global experiences and expertise opens new horizons and helps us develop innovative strategies, by which we follow the example of major international brands, where innovation, quality, and excellence are concerned. Studying the strategies, marketing methods, and experiences of these brands allows us to build our brand identity and consolidate our influence in local and international markets.
Studies indicate that well-known brands attract 60% of potential customers. The more famous the brand is, the more likely it is to attract customers. About 77% of consumers remain loyal to brands they trust. This means that strong brands contribute to increased repurchase rates. Companies with strong brands receive up to 60% higher positive reviews on online platforms, which enhances their reputation and attracts more customers.
Successful brands do not limit themselves to providing products or services only, but further they create unique customer experiences, enhance social awareness, and adopt sustainable practices. By collaborating with these brands, startups and small companies can improve their performance and increase their market opportunities. Having a strong brand can increase trust and credibility, making it easier for companies to attract customers and boost their loyalty. Studies show that about 85% of purchasing decisions are influenced by brands. Customers tend to choose brands they know and trust.
Today, we have an exceptional opportunity to leverage global knowledge and apply it in our local contexts. International brands are among the most prominent factors that enhance business success and open doors to new opportunities.
No. 23
CONTENTS
08 PANORAMA
Shubam Aggarwal & Siddharta Banerji: Ras Al Khaimah, an ideal destination for the future of luxury residential living
12 Ras Al Khaimah excels through global trade links, a welcoming business climate, excellent infrastructure, and government policies that encourage investment.
How UAE is Reshaping Its Economy for Sustainable Growth?
18 Moving from destructive linear models, UAE pioneers sustainable economic revolution
22 BUSINESS
VIM Solar Robotics to launch its first GCC facility in RAK
22 Solar panel cleaning robots will enhance the efficiency of solar power stations in Ras Al Khaimah and the UAE.
Ras Al Khaimah: The Future Hub for Global Tourism and Investment
24 Ras Al Khaimah is becoming a key tourism and investment hub, driven by modern facilities and a growing number of hotels and tourism projects.
OVER THE TOP Emirati women leading in artificial intelligence, entrepreneurship, and leadership.
30 MBZUAI Honors Five Emirati Women Leading the Way in AI, Entrepreneurship, and Leadership.
Air Arabia expands Ras Al Khaimah network to Moscow
39 The new service will launch on Dec.27, with three weekly flights, enhancing direct travel between the two cities.
Ras Al Khaimah Tourism Development Authority, Best Workplaces In The Middle East
38 Best Work Environment for Women in 2024” for the small business category in the GCC.
Top Travel Insights for 2025
40 Discover the top destinations, bestvalue spots and emerging travel vibes set to define the year.
PANORAMA
RULER OF RAS
AL
KHAIMAH OPENS RAK DIGITAL ASSETS OASIS CONFERENCE 2024
H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, opened the RAK Digital Assets Oasis (RAK DAO) Conference 2024 today with a keynote address during which he emphasised the importance of embracing technological innovation to secure Ras Al Khaimah’s position as a global hub for blockchain and digital assets.
The conference also witnessed the unveiling of the highly anticipated DAO Association Regime (DARe) – a legal framework designed to empower Decentralized Autonomous Organizations (DAOs) to operate securely and legally in the UAE.
The event, which marks RAK DAO’s one-year anniversary of delivering pioneering initiatives, spotlighted the entity’s success in issuing almost 400 licences in under 12 months, its partnerships with over 40 regional and international leaders, and the signing of several landmark memoranda of understanding (MoUs) — while bringing together global industry leaders, Web3 innovators, and prominent government officials under the patronage of H.H. Sheikh Saud.
In his opening address, H.H. Sheikh Saud praised RAK DAO’s efforts in leading blockchain innovation and highlighted how his vision for the digital space aligns with the UAE’s broader strategy of becoming a key player in the global digital economy.
“Ras Al Khaimah is playing its part in the
UAE’s digital journey, and the creation of RAK Digital Assets Oasis, the world’s first free zone dedicated to digital and virtual assets, is a testament to our commitment to digital transformation. It embodies our nation’s vision to not only be the enablers but also the creators of innovation in this sphere,” said H.H. Sheikh Saud during his opening address.
“In Ras Al Khaimah, we recognise the transformative power of digital assets and the unique economic growth they represent.
That is why we created RAK Digital Assets Oasis – a focal point for entrepreneurs, investors, and developers – and a space to come together and shape the future of this dynamic sector.”
The RAK DAO 2024 Conference, held at the Al Hamra International Exhibition & Convention Center, brought together industry experts and global leaders to share their perspectives on the future of blockchain technologies through a series of panel discussions and keynote speeches.”
RAK DED Launches Entrepreneurship Forum 2024
Under the patronage and presence of Sheikh Mohammed bin Kayed Al Qasimi, Chairman of the Department of Economic Development in Ras Al Khaimah, The Department of Economic Development in Ras Al Khaimah launched its second annual Entrepreneurship Forum 2024 under Sheikh Mohammed bin Kayed Al Qasimi’s patronage. Held at Hilton Garden Inn Hotel, the event brought together local, regional, and international companies across various sectors. According to Aisha Obaid Al-Ayyan, Director of Business Development, the forum resulted from numerous sector meetings and workshops conducted throughout the previous year. The event was structured in two parts: first, featuring presentations from ten major companies including Meta, Google, Network, Samsung,
9,299 Calls Received by RAKDED Call Center during the First Half of 2024
RAKDED’s Call Center handled 9,299 calls in H1 2024, responding within 10 seconds to inquiries about business licenses, certificates, and violations. Acting Supervisor Sendeyya Alyammahi reported 9,417 total inquiries across all channels, with staff completing 102 training hours and achieving 100% customer satisfaction.
Tamara, Foodics, KAFU, Noon, Packman, and Santara. These companies led workshops on topics ranging from marketing and media to payment solutions and banking services. The second part facilitated networking opportunities for participating companies and entrepreneurs to forge potential business relationships and agreements. The forum introduced several new initiatives, including the RAK Business Award for small and medium enterprises, banking partnership programs, and the launch of the Tamkeen guide for SME empowerment.
The event targeted over 250 small and medium enterprises from diverse sectors, including restaurants, retail stores, licensed social media influencers, pharmacies, and university students entering entrepreneurship. It offered various packages and facilities for businesses in Ras Al Khaimah while providing opportunities .for knowledge exchange and relationship building among participants.
39,958 Beneficiaries of RAKDED Events and Activities
Ras Al Khaimah Department of Economic Development (RAKDED) implemented 43 initiatives and events during the current year, targeting employees, customers, partners, entrepreneurs, thalassemia patients, fasting people, and other different groups of society. Several areas were covered, including sustainability, innovation, reading, health, sports, and humanitarian topics. Acting Manager Sami Al-Rabah reported that the events comprised 16 partner initiatives, 19 community programs, and 8 internal activities. The programs benefited 39,958 individuals in total. The quarter concluded with a Ramadan Majlis focused on educating consumers about proper consumption and purchasing habits during the holy month.
The third Season of Promising Youngster Starts
RAKDED launched its third “Promising Youngster 2024” program for summer vacation, targeting students aged 14-17. Director Aisha Al-Ayyan explained the three-stage program running July 8 to August 2, which includes training workshops, practical skills development in businesses, and culminates in an exhibition where participants showcase their entrepreneurial projects for evaluation.
RAKDED: 14,596 Committed Establishments in Ras Al Khaimah
Ras Al Khaimah Department of Economic Development (RAKDED) conducted 17,420 inspections in the first half of the year, identifying 2,824 non-compliant establishments while 14,596 businesses followed regulations. The department executed 57 control campaigns targeting unlicensed businesses, street vendors, and illegal car sales, with joint operations alongside federal ministries. Director Faisal Alyoon affirmed RAKDED’s commitment to maintaining market stability.
RAKEZ and RAKBANK
Extend their partnership for seamless SME banking
Ras Al Khaimah Economic Zone (RAKEZ) has partnered with RAKINSURANCE to launch the Workers Protection Insurance Programme, replacing visa deposit requirements. The initiative, aligned with MoHRE guidelines, provides comprehensive coverage for unpaid salaries, end-of-service gratuity, repatriation costs, and work-related injuries. The partnership, formalized by RAKEZ Group CEO Ramy Jallad and RAKINSURANCE CEO Sanjeev Badyal, aims to enhance worker welfare while strengthening Ras Al Khaimah’s position as a premier business destination by reducing employer risks and improving job security.
RAKDED Services at Emirates Post Centers
Under an agreement between (RAKDED) and the Emirates Post Group, the Department announced the provision of its services in Emirates Post centers and offices in Ras Al Khaimah. Investors can now complete their commercial transactions easily and conveniently, including, but not limited to, issuing licenses and permits, reserving trade names, and many other services.
RAKDED Addresses 397 Consumer Complaints Gaining Satisfaction Rate of 93%
As part of the quest of Ras Al Khaimah Department of Economic Development to protect consumer rights and enhance confidence in doing business, the Department addressed all complaints received during the first half of 2024. 424 complaints were received, of which 397 complaints were addressed. The complaints varied between those related to contracts, guarantees, honesty and credibility. The Commercial Protection Section reported that the warranty complaints ranked first on the list of consumer complaints, reaching 189 complaints, followed by honesty and credibility complaints (63) and contract complaints (72). The Section addressed 330 complaints amicably by mutual consent between parties, while 67 complaints were addressed by signing a pledge not to repeat violations. 27 complaints were referred to the Courts Department due to the impossibility of reconciliation between the parties. The Section was able to achieve 93% of complainants’ satisfaction, who gave positive feedback. Faisal Alyoon, Director of the Commercial Control and Protection Department, called on consumers to cooperate with the Department and to join the efforts of all parties to report any wrong practices to protect their rights and ensure market stability.
179 Consultations for Entrepreneurs and Investors Provided in the First Quarter
Within the framework of the plans of Ras Al Khaimah Department of Economic Development (RAKDED) to promote sustainable economic growth, and the efforts made to support small and medium enterprises in Ras Al Khaimah, 179 consultations to entrepreneurs and projects were provided by RAKDED in various areas, including starting and developing business, selecting activities, and linking with relevant entities and companies to ensure project sustainability.
The Department’s Business Centre hosted 22 international delegations and organized exhibitions, including “Lamasat Watanya” which supported 43 commercial and home licenses. Director Aisha Al-Ayyan reported 92 promising licenses issued in Q1, showing 67% growth from 2023. Additionally, 24 commercial licenses were promoted through media initiatives like “Rak Shabab” and “Success Story.” RAKDED continues to offer free courses and workshops to support business continuity and excellence.
RAKDED Strengthens Partnership with Santra Platform
In strengthening partnerships with several national platforms, Ras Al Khaimah Department of Economic Development (RAKDED) has built partnership with Santra platform, which is concerned with promoting home food enterprises in the UAE.
Through this partnership, RAKDED was keen to support home-based entrepreneurs who conduct food activities and encouraged them to join and enjoy the platform benefits.
Aisha Al-Ayyan - Director of Business Development Department - stated that the workshop targeted the members of Al-Ghad license operating in food activities. Thirty entrepreneurs participated in the workshop.
RAK Police seize 650,000 counterfeit items
A joint operation by Ras Al Khaimah Police and DED resulted in the seizure of 650,468 counterfeit items worth AED23 million, including fake cosmetics and accessories. Following surveillance of two warehouses, three Arab nationals were arrested. Brigadier Ahmed Said Mansoor praised the operation’s success, and the seized goods were transferred to DED’s warehouses.
Shubam Aggarwal & Siddharta Banerji:
Shubam Aggarwal & Siddharta Banerji: RAS AL KHAIMAH, AN IDEAL DESTINATION FOR THE FUTURE OF LUXURY RESIDENTIAL LIVING
By:Khawla Ibrahim
The real estate market in Ras Al Khaimah is expanding and becoming more appealing to investors due to the potential for significant long-term returns.
According to recent data from Ras Al Khaimah Municipality, the emirate’s property sector has witnessed robust growth on the back of multi-billion-dollar investment deals from firms such as Wynn Resorts, Nobu Hotels, Aldar, Dubai Investments and Abu Dhabi National Hotels, and now The Luxe Developers with Oceano Its luxury residential project in Ras Al Khaimah. RAK Business Magazine met with the Luxe Developers co-owners, Shubam Aggarwal, Chairman, and Siddharta Banerji, Managing Director, to highlighted on this project, the co-founders, conceptualized The Luxe Developers to capitalize on the UAE’s thriving economy, the burgeoning tourism offering, and an increasing demand for luxury real estate in RAS ALKHAIMA. The following dialogue was:
What is the main reason for choosing Ras Al Khaimah to launch this project?
Shubam Aggarwal said:” We chose Ras Al Khaimah for our real estate ventures because of a combination of business opportunities and the emirate’s strategic location. Ras Al Khaimah’s pristine beaches and striking mountain landscape create a stunning backdrop for peaceful and luxurious living. Additionally, the real estate market in Ras Al Khaimah is expanding and becoming more appealing to investors due to the potential for significant long-term returns.
Ras Al Khaimah’s success stems from its strong ties to global trade, a business-friendly environment, world-class infrastructure, and supportive government policies that drive investment
Last year, Ras Al Khaimah hosted a record 1.2 million tourists and is expected to welcome 5.5 million tourists by 2030. With the volume of investment and the positive outlook for the real estate market in the emirate, we wanted to ensure we added The Luxe Developers brand name to the mix, maximizing the opportunities afforded by the appetite for luxurious property in Ras Al Khaimah, particularly Al Marjan Island.
As one of the early developers in Al Marjan’s luxury
With its strategic location and abundant growth opportunities, Ras Al Khaimah has emerged as a premier investment destination. Its breathtaking beaches, majestic mountains, luxury lifestyle, and thriving real estate market draw investors from around the world
real estate sector, we’ve seen significant interest since breaking ground on Oceano last year, setting a new standard for luxury residences on the island, influencing the real estate market in Ras Al Khaimah and attracting international investors”.
What facilities did Ras Al Khaimah provide The Luxe Developers?
Siddharta Banerji said:” The team at Marjan has provided outstanding support, which has been a significant catalyst for our success to date. Incentives include 100% foreign ownership, 100% repatriation of capital and profits, and 100% availability of utilities. This, combined with an attractive corporate tax rate as compared to other countries, 0% personal tax, and VAT of just 5%, was a major factor in our decision. This, combined with Ras Al Khaimah’s growing reputation on the world stage, thanks in part to the emirate’s burgeoning tourism offering, has undoubtedly acted as an important marketing tool for showcasing the emirate’s offerings.
Ras Al Khaimah Tourism Development Authority
(RAKTDA) celebrated its most successful year in tourism in 2023, with a record 1.22 million overnight arrivals, marking an 8% increase from 2022. The international visitor count experienced a remarkable 24% year-onyear growth, propelled by enhanced air connectivity with airlines such as Qatar Airways, IndiGo, Smart Wings, Centrum Air, and SmartLynx.
The integration of Etihad Rail is also expected to be a game-changer for Ras Al Khaimah, further enhancing the emirate’s real estate market and economic landscape. One of the most important announcements from a tourism perspective has been the US$1.9 billion Wynn Resort at Al Marjan Island. The integrated resort will feature shopping, a gaming area, events centre, wellness and spa facilities and an incredible 24 dining and lounge experiences” .
We aimed to launch a project unlike anything else on Al Marjan Island, where the management and team provided exceptional support that became a key driver of our success, further boosted by Ras Al Khaimah’s growing reputation and global appeal.
How will the promising business environment in Ras Al Khaimah affect the project?
Shubam Aggarwal said: “ Tourism is not the only factor securing RAK’s position on the global stage. The emirate has experienced remarkable GDP growth and
We target investors seeking a luxurious lifestyle, featuring unique architectural designs and custom-designed spaces that create an exceptional living experience— redefining luxury and standing apart from traditional offerings
macroeconomic stability in recent years, propelled by a highly successful economic diversification program. This initiative has attracted a significant influx of capital and numerous investment opportunities, with real estate investment emerging as a noteworthy proof point.
The foundation of Ras Al Khaimah’s success lies in its integration of international trade, commerce, and cultural exchange. Combined with a business-friendly environment, world-class infrastructure, and favourable government policies promoting trade and investment, the emirate is fast becoming the preferred choice for international and local traders seeking to establish thriving business ventures.
Ras Al Khaimah’s efforts to expand its tourism offerings and infrastructure have undoubtedly contributed to its appeal to UAE residents and overseas visitors. From a real estate perspective, this can only mean one thing: an increase in property demand.
The emirate is on a transformative journey, from a tranquil weekend escape into a world-class lifestyle destination that rivals leading international cities. With deliberate planning and a focus on elevating living standards, the emirate has successfully positioned itself as a hub for luxury living, attracting both local and global audiences. The introduction of ultra-luxury amenities and experiences, combined with strategic efforts to draw in retirement and second-home investors, highlights Ras Al Khaimah’s commitment to creating a vibrant, high-end living environment. As a result, it is fast becoming a magnet for those seeking both opulence and a long-term residence in an idyllic setting.
seeking a high-value lifestyle, particularly those who appreciate unique, standout architectural designs, and bespoke spaces. These individuals value well-crafted interiors that truly set them apart from the ordinary, offering an exceptional living experience, unlike the usual offerings.
Our residences also epitomise luxury, offering amenities such as a spa, sauna, Hammam, infinity pool, snow room, state-of-the-art gym, home theatre, and dedicated office space, all meticulously designed to cater to the most discerning tastes.
Earlier this year, we achieved a significant milestone by becoming the first off-plan developer in Ras Al
About Oceano
Oceano on Al Marjan Island offers luxury living with 206 units, including sky villas and penthouses featuring private pools and Gulf views. Amenities include a spa, infinity pool, cigar lounge, gym, private beach, jetty access, and exclusive retail options
Khaimah to secure the prestigious UAE Golden Visa for our investors. Our exceptional portfolio enables investors to own or live in an ultra-luxury property in the growing market while having the opportunity to secure a sought-after UAE Golden Visa. This milestone underscores The Luxe Developers’ commitment to delivering unparalleled real estate opportunities and contributing to the growth and development of Ras Al Khaimah’s property market”.
Oceano will be located on a unique corner plot on Al Marjan Island and spread across a Built Up Area (BUA) of 79,000 sqm. The project, valued at over AED1.5 billion, consists of 206 units and will stretch over 18 storeys and include one-, two-, three- and four-bedroom apartments, six penthouses, and two exclusive sky villas, which will enjoy access to private pools as well as indoor and outdoor entertaining areas with unobstructed views across the Arabian Gulf.
Residents will have access to a range of amenities often associated with five-star hotels, including a luxury spa, an infinity pool connecting the two towers, a state-of-the-art gym, a cigar lounge, a library, a yoga room, a children’s play area, and a chauffeur’s lounge. A dedicated retail level will feature 12 units offering the best in hospitality, F&B and leisure.
Rresidents will enjoy a resort-style swimming pool, a dedicated children’s pool, a private beach, and jetty access for those mooring yachts. A concierge and 24-hour security will also be provided.
Musa Abdel Moneim Metwally Economic advisor
PATH TO A GREEN FUTURE:
HOW UAE IS RESHAPING ITS ECONOMY FOR SUSTAINABLE GROWTH?
In the previous article, we reviewed the linear economy model that has prevailed since the beginning of the industrial revolution and how it contributed fundamentally to the deterioration of the natural environment. A model that exhausted and polluted the planet. We also highlighted the matter that if this model continues, it will affect the rights to life of future generations.
We concluded that the circular economy model is the haven towards maintaining sustainable development, and thus, achieving prosperity and well-being without harming the environment. This model will help address the drawbacks shown by the linear economy model. It will contribute to achieving a major set of the seventeen (7) goals set by the United Nations to achieve sustainable development. This could be met by taking advanced steps to deal with the scarcity of resources and the efficiency of multiple use, considering recycling at all stages, reducing waste and thermal emissions, and benefiting from them at the lowest economic and environmental costs.
The UAE has paid great attention to devel-
oping an integrated system for the circular economy and seeking to avert the linear one. The UAE has decided to move further to ensure sustainable development and achieve well-being for current and future generations. From this standpoint, the Cabinet approved the formation of the UAE’s Circular Economy Council in January 2021, headed by the Minister of Climate Change and Environment. The Council’s membership consists of representatives from federal and local government agencies and the private sector.
The “UAE Circular Economy Policy 2021-2031” was issued.
The purpose of this policy is to outline some of the ways in which the UAE can transition towards a more circular economy where the country’s natural, physical, human and financial resources are used in the most efficient
and sustainable way to improve the quality of life while also protecting or even enhancing the local and global environment in line with the next fifty-years-goals. This policy has set the following goals:
• Achieve sustainable management of the economy and efficient use of natural resources.
• Promote circular economy and Sustainable Consumption Production patterns that reduce environmental stress and meet basic needs
• Encourage the private sector to shift to cleaner industrial production methods and techniques including the use of Artificial Intelligence and other technologies of the fourth industrial revolution.
The policy seeks for all economic sectors to adopt a circular economy approach, but it has identified four priority sectors in stimulating and developing the circular economy in the country. These are:
1. Sustainable Manufacturing
2. Green Infrastructure
3. Sustainable Transportation
4. Sustainable food production and consumption
The following chart shows the main areas in which the circular economy principles can be applied in each of the four priority sectors, along with the eight common core areas of focus that will support the transition to a circular economy across all sectors.
The “UAE Circular Economy Policy has identified the following themes for each of the previous four sectors:
• The main trend in the sector
• Results and benefits
• The most important actions and initiatives regarding (strategic vision, capacity building and business support, corporate management, research and development, government procurement and infrastructure investment, economic incentives management)
We will briefly review these themes addressed in the Policy for each of the four sectors.
1. Sustainable Manufacturing: The UAE looks forward to relying on local and
Sustainable Transportation
• Low Carbon Vehicles.
• Green Integrated Inter-Modal Plans
• Public Trasport and Sharing Models
OVERARCHING
PRIORITIES
Set Clear Direction
• Gather Data
• Technology, Circular Economy Innovation, R&D
• Building Awareness & Capaci
• Partnerships & Collaboration
• Access to Sustainable Finance
• Circular Procurement Policy
• Waste Management
Green Infrastructure and Development
Smart and Sustainable Urban Plans
• Green Building Design and Construction.
Utilization, Renovation and Upgrade of Buildings and Infrastructure
imported products manufactured in accordance with the foundations and principles of the circular economy, so that the use of resources is reduced and reused, and they are not lost or wasted in landfills. This reduces greenhouse gas emissions and supports the productivity of the manufacturing sector to increase its competitiveness and promote green jobs. The initiatives and actions revolve around:
• Increase awareness on circular economy among the business community and stakeholders and include it in industry development strategies.
• Encourage the labelling and branding of goods produced in environmentally friendly ways.
• Encourage and market environmentally friendly products.
• Provide incentives to the industrial sector to enhance sustainability in all production processes.
Sustainable Manufacturing
• Resource E ciency
• Remanufacturing and Reuse Business Models.
• Product and Material Design
• Green Sectoral Clusters (Eco-Industrial Parks)
Sustainable food production and consumption
• Regenerative Production
• Input Productivi
Reduce Food Loss and Waste
• Upcycling Biological Waste
• Support research and development processes among stakeholders in circular economy.
• Prioritize the purchase of manufactured products committed to the principles of the circular economy.
• Develop an effective system for collecting, sorting, separating, processing and redistributing materials and products.
2. Green Infrastructure:
• Promote industrial parks that support the Fourth Industrial Revolution Strategy and provide technical support services to enhance efficiency of use.
The UAE aims to design and implement more efficient infrastructure during the construction and demolition process by reducing the use of resources and pollution, not losing them, but reusing them. Buildings and urban environment will accordingly be more efficient and productive. This will reduce greenhouse gas emissions, create more productive urban systems, improve access to goods, services and housing, and create healthier and more vibrant cities. The initiatives and actions include:
• Develop urban and smart plans to design cities that consider the foundations of circular economy.
• Increase awareness about the circular economy among stakeholders in this sector.
• Emphasize the added value found in reusable waste.
• Support prefab construction and 3D printing.
• Develop programs to reuse building materials through easy disassembly and recycling.
• Encourage asset renewals.
• Encourage business models that provide leasing and shared services and support energy companies that increase the efficiency of buildings and sustainable urban spaces.
• Support research and development into the design of reusable, easy-to-disassemble, and recyclable building materials.
• Develop more efficient cities to promote the development of mixed-use neighborhoods and the use of mass sustainable transportation systems.
• Revegetate indigenous plants suitable for
The circular economy is key to sustainable development by reducing waste, cutting emissions, and preserving resources for future generations
the environment.
• Develop incentives to reduce demand for new raw materials and encourage reuse and modernization of existing assets to make them more efficient.
3. Sustainable Transportation:
Vehicles are responsible for about 15% of the country’s carbon emissions. Accordingly, the UAE aims through this policy to achieve rapid and safe movement of residents throughout the country using means of transportation that do not pollute the environment and do not create congestion. This will result in reducing greenhouse gas emissions, achieving ease and speed of movement, creating cities that are more suitable for living and health, and reducing the number of accidents. This could be achieved through:
• Develop and implement smart sustainable transportation plans, promote remote work, and develop specifications and labels for low-emission vehicles.
• Support business models based on shared mobility and providing support for replacing old vehicles with modern, low-emission vehicles.
• Support partnership between private and public sectors in the transportation and shared transportation integration system.
• Develop the transportation system to provide shared transportation options and self-driving electric cars and supporting the infrastructure for electric vehicle charging services.
• Develop future hydrogen infrastructure.
• Develop legislative and regulatory frameworks to support and achieve sustainable transport.
• Use fines and financial rewards to reduce congestion and negative impacts on the environment that resulted from transportation.
• Grant financial incentives to encourage the replacement and maintenance of old heavy and commercial vehicles to reduce air pollution.
4. Sustainable food production and consumption:
10% of food in the country is produced locally. The agricultural sectors represent 60% of the total demand for fresh water in the UAE, of which 80% is wasted due to traditional irrigation methods, i.e. 48% of water is wasted. The Policy seeks to increase the efficiency of water use, reduce waste, make the environmental systems healthier, and use organic waste more productively. This will result in reduced greenhouse gas emissions and other pollutants, improved overall health of the nation’s ecosystem, and increased people’s access to healthy, nutritious foods. This could be achieved through:
• Encourage the labelling and branding of food produced in regenerative ways.
• Raising awareness at different levels of
education about nutritionally balanced diets and food security in light of climate change.
• Support the capabilities of agricultural and food producers to efficiently use sustainable methods and the latest agricultural methods.
• Support the import of food grown regeneratively.
• Encourage research and development in renewable agricultural and fishing practices, and organic fertilizers.
• Endorse the government procurement for agricultural products produced in accordance with the principles of the circular economy.
• Increase investment in warehousing and better logistics services for the agriculture sector.
• Support the adoption of technologies that will increase the conversion of resources and organic and food waste into raw materials and reintegration through the circular economy.
Transitioning to a circular economy is expected to lead to a number of economic, environmental and social benefits including:
• Increased disposable income through reduced cost of products and services. In turn, this could increase consumption and therefore increase GDP growth. A Study by the Ellen MacArthur Foundation on the potential impact of Europe transitioning to a circular economy found that the disposable income of the average European household could increase 18% by 2030 and 44% by 2050 in a circular economy, compared to just 7% and 24% in a business-as-usual scenario.
• Reduced demand for virgin materials and a reduction in CO2 emissions, which contributes to improving the environment and achieving the target of the net zero emissions strategy.
• Improved quality of life. Cities will be more livable with better access to goods and services and people healthier from reductions in air pollution and access to healthier, more nutritious food.
Modern Technology Trade Law: Forward-Thinking Legislation for the Digital Era
The use of the World Wide Web became accessible to more than three billion people at the beginning of the first decade of the twenty-first century. Social media has multiplied, and therefore, the term “globalization” has emerged. The Earth became, as so called, a small village.
Communication applications have transformed from being merely a means of communication to a means of exchanging goods for or without return, providing material and moral services. As technology continued to evolve, these means formed the nucleus of e-trade. Accordingly, applications were created to exchange or sell goods between subscribers. Those responsible for these applications soon provided the required guarantees to sellers and buyers, which ensured the delivery of goods and funds to both parties. They also established the required policies regarding product quality, buyer satisfaction, product return or exchange, and other matters that regulate the relationship between parties. Despite the guarantees established by the developers of these applications, the practical use has caused many legal problems between e-trade parties, and also between either party and app developers themselves. It has become necessary for the government to develop the necessary legislation that regulates e-trade and all individuals and parties related, whether in providing goods or services, moral or material. Hence, issuing a law regulating trade through modern technological means has actually become proactive legislation that keeps pace with the technical age.
Article (1) of Federal Decree by Law No. (14) of 2023 Concerning the Modern Technology-Based Trade defines E-trade as “The sale and purchase of goods, services and relevant data through technological platforms or modern technology, including, inter alia, the websites, e-platforms or smart applications, including the transactions carried out through electronic or digital commerce or social media platforms. This includes non-digital goods and services that are obtained physically or virtually through modern digital technology or technological platforms.” It also defines Modern Technology as “Any technological platforms used for Modern Technology-Based Trade, whether electronic, digital, biometric, artificial intelligence technology, blockchain technology, or in technological platforms, whether by accessing websites or through smart applications.”
The provisions of this decree law, therefore, cover all commercial financial transactions on the Internet in accordance with the current development.
Article (3) of the said Decree-Law set forth the objectives thereof, as follows:
1. Achieve the State’s strategic directions regarding digital transformation, develop Modern Technology-Based Trade and attract investments and skills.
2. Develop the legislative and regulatory environment regarding Modern Technology-Based Trade.
3. Stimulate Modern Technology-Based Trade for goods and services without differentiating between them and the goods provided through physical trade.
4. Organize the relationships between the digital trader and the consumer, in order to achieve the following:
• Protect consumer’s interests.
• Data protection.
• Protect intellectual property rights
• Provide adequate technical protection for trading of goods and services.
• Provide secure digital payment methods and channels, in accordance with the technical and regulatory standards and requirements approved or specified by the competent authority.
These objectives establish the basic frameworks for freedom of e-trade under legislative and financial protection while ensuring data confidentiality and intellectual property rights. Finally, it must be noted that the current legislation is proactive in keeping pace with the digital transformation, but the nature of the modern technology-based trade is evolving in itself and finds self-solved solutions to the daily problems that arise from global trading. This inevitably creates legal problems that may subsequently require further legislative development if they are not included in the current legislation.
Walid ElRefai RAK DED Legal Consultant
Judge/
VIM SOLAR ROBOTICS TO LAUNCH ITS FIRST GCC FACILITY IN RAS AL KHAIMAH
Australian technology company InSky Robotics is establishing its first GCC facility, VIM Solar Robotics, in Al Hamra, Ras Al Khaimah. This strategic move is designed to cater to the increasing demand for robotic solutions within the solar energy sector across the GCC region.
The new facility will be dedicated to assembling, storing, and supplying VIM Solar Robotics’ advanced VOLTIMATE robotic cleaners setting the global standard in automated cleaning for solar farms. Designed to function mechanically without batteries or complex electronics, these robots are well-suited to withstand severe weather conditions. They boast a lifespan of over 20 years, aligning with that of standard solar panels. Furthermore, the robots are constructed from standardised components, simplifying servicing and significantly reducing maintenance and operational costs.
VIM Solar Robotics CEO Aleksei Ermishin said, “We are excited to announce the establishment of VIM Solar Robotics in Ras Al Khaimah. Recognising the urgent
demand for efficient and low-maintenance robotic cleaning solutions for solar farms in the GCC market, we are introducing VOLTIMATE, an innovative technology tailored specifically for the unique needs of the UAE. Ras Al Khaimah Economic Zone (RAKEZ) has been instrumental in facilitating our UAE set-up, providing vital support that complements our hightech operational needs.”
Commenting on the choice of location Ermishin added, “With the invaluable support of RAKEZ, we chose Ras Al Khaimah for our company registration because of its rapid growth and strategic location in the UAE. RAKEZ made the company registration process smooth and easy, providing us with excellent facilities for our future manufacturing and storage needs. They’ve also been fantastic in offering support and resources to help us further establish our presence in this dynamic market. RAKEZ’s commitment to business growth and innovation has made Ras Al Khaimah the perfect spot for our GCC expansion.”
RAKEZ Group CEO Ramy Jallad said, “We are thrilled to be the preferred choice of VIM Solar Robotics’ first regional home. The company’s presence in Ras Al Khaimah underlines the unparalleled strategic advantages our emirate offers to cuttingedge technological firms. Their investment here not only signifies RAKEZ’s vital role as an emerging hub for technology and sustainable energy but also aligns perfectly with our commitment to nurturing industrial growth and technological innovation across the region.”
The group of innovative engineers behind VOLTIMATE and VIM Solar Robotics brings 12 years of experience from JoyMechanix, a brand that revolutionised the TV and broadcasting industry with its robotic camera motion systems. One of their noteworthy projects in the GCC includes providing TV broadcasting robotics for the Saudi Cup, the world’s richest horse racing event
Unplanned Purchases?
TikTok Made Me Do It! Over 80% of MENAT users agree
According to the ‘TikTok Made Me’ report by Ipsos, nearly 80% of MENAT consumers are influenced to purchase brands after watching TikTok content. The report highlighted TikTok’s significant impact across various industries in the region, including travel, entertainment, food and beverage, and automotive.
In the travel sector, one in two users in MENAT saw travel-related videos on TikTok in the last six months, with creators’ comments and recommendations shaping their travel plans. In entertainment, at least 3 in 5 users in MENAT have seen entertainment-related videos in the last six months, as the platform offers a unique space for users to discover and share content they love. Similarly, in the food and beverage industry, at least 1 in 2 users took action because of F&B/cooking content on TikTok, ranging from influencer-led cooking tutorials to viral food challenges. In the automotive sector, more than a third of users took action within one week after seeing a TikTok car video, including seeking reviews, visiting websites, and engaging with dealerships.
The report showcases how TikTok catalyses inspiration, discovery, and action, offering valuable guidance for brands seeking to connect with their audience meaningfully. TikTok users were found to be highly receptive to branded content, viewing ads as engaging, creator-led, relevant, and informative, reshaping consumer behavior with over half of users making initially unplanned purchases after encountering videos or sponsored content on the platform.
“’TikTok Made Me’ Research shows that TikTok significantly impacts consumer decisions,” said Panicos Ioannides, Chief Executive Officer of Ipsos in GCC. “It’s more than just entertainment; it’s a powerful tool driving actions, shaping preferences, and boosting purchases. Brands using these insights can connect with their audience uniquely and meaningfully.”
The report unpacks the interplay between entertainment, creativity, and relatability to empower brands with insights into the latest preferences of the TikTok community and support them in shaping their marketing strategies
Ras Al Khaimah: The Future Hub for Global Tourism and Investment
PRESENTED BY DR. TALIB HASSAN HAYALI
ECONOMIC EXPERT, RAK CENTER FOR STATISTICS & STUDIES
The United Arab Emirates is one of the most attractive countries in the Middle East and North Africa for tourism. It ranked among the top ten globally in 4 indicators related to the global competitiveness of the tourism, travel, and hotel sector. More than 28 million visitors visited the UAE in 2023, with 1,235 hotel facilities distributed among all the emirates. The number of guest nights reached approximately 97 million. The UAE rich tourism experience earned it a remarkable reputation. The UAE, therefor, has become a target for all visitors because of many reasons, including the distinguished infrastructure, the high rate of security and safety, and the thriving business environment, that is suitable for investment in tourism, travel, and air transport.
Like other emirates in the country, the Emirate of Ras Al Khaimah has supported its tourism trend by providing a suitable environment and modern tourist facilities for visitors, who reached half a million visitors by mid-2024. The tourist facilities included 53 various hotels, museums, heritage associations, archaeological sites and towers distributed within the emirate and its seacoast, extending from Ras Al Dara north to the AL Marjan Island south, in addition to Jais Mountain with its attractive facilities. The tourism sector in the emirate is considered a promising sector in the local economy, and therefore it has been given priority.
A) Importance of Accommodation and Food Services Sector in the UAE Economy:
The activities of the accommodation and food services sector
witnessed remarkable development during the period 20192023. This enabled the sector to quickly return and overcome the reality in 2019 after it was affected by the COVID19 pandemic, which had significantly impacted on economy, especially the tourism and aviation sectors.
The country’s gross domestic product increased by 4% in 2023 compared to 2022, and by 23% compared to 2019. The sector increased by 10% and 32% compared to 2019. The number of guests increased by 11%, and by 3% over 2019. The number of hotel establishments and the occupancy rate increased by 3% and 6% in 2023 compared to the previous year, and by 8% and 1% compared to 2019, respectively. Number of guest nights increased by 7% from 2022 and 14% from 2019. See Table 1-1.
B) Contribution of Accommodation and Food Services Sector to Ras Al Khaimah Economy:
Statistical evidence showed a positive development in the activities of the accommodation and food services sector in
Ras Al Khaimah during the period 20192023. The most important aspects can be summarized as follows:
1. The Sector’s contribution to the GDP at current prices during the years 20192022 was about 4%, with an increase of 8% between the last two years. The GDP contribution is expected to increase in the years 2023-2025, due to improving the performance and increasing the number of visitors from 1,122.3 thousand visitors in 2022 to 1,221.0 thousand visitors in 2023, an increase of 9% and 15% between the years 2022 and 2021. This exceeded their number in 2019, which amounted to 1,113.7 thousand visitors by 10%. These percentages are also expected to increase in 2024 and 2025 according to the
Table 1-1: Hotels, rooms, guests & occupancy in UAE, 2019-2023
increase in indicators, guests, average nights of stay, occupancy rates, and total revenues by 16%, 11% and 18% in 2023 compared to 2022, respectively.
2. The Sector contributed to providing job opportunities at a rate of approximately 4% annually from the percentage of workers in the service sector, according to the labor force surveys 2020-2022. The authorities supervising the sector expect its contribution and role in the local economy to increase in the coming years. This is expected to be accomplished after achieving Ras Al Khaimah’s tourism vision to become the leading destination for sustainable tourism by 2025 and attracting 3 million visitors annually by 2030. This vision may be achieved before that according to the strategy of the emirate and the state, especially after the integration of tourism service packages and extensive hotel facilities in the next few years.
C) Quarterly Performance of Accommodation and Food Services Sector 2021-2024
The figures in Table 3-1 revealed several facts, including:
1. Although the number of guests, nights stayed, occupied rooms, and occupancy rate decreased by (8%), (5%), (6%), and (8%) in the first quarter of 2024 compared to the fourth quarter of 2023, it remained superior to them in most quarters in previous years, in addition to its superiority in the number of hotels, average days of stay, and number of available rooms, by 2%, 3%, and 2% in a row.
2. When comparing the numbers of guests in the same quarter with the first quarters of 2022 and 2023 and the fourth quarter of 2021, we find that the scene has completely changed, and clear signs have emerged of a complete recovery in the activity of hotel establishments. It can be concluded that the sector has returned to what it was in the fourth quarter of 2019.
Table 3-1: Quarterly Performance of Hotel Establishments in RAK, 2021-2024
Source: Ministry of Economy Federal Centre for Competitiveness and Static--
Figure 3-1: Quarterly available and occupied rooms in hotel establishments, Quarter 4, 2021- Quarter 1 2024
3. The sector’s timely recovery strengthened confidence in its integration once again into the local economy and helped overcome the belief that was prevalent among many experts and specialists in 2020 and 2021 that the sector’s return to its performance
Figure 3-2: Quarterly and monthly occupancy rates in hotel establishments
in 2019 would not occur before 2024 or 2025. See also Figures 3- 1 and 3-2.
D) Accommodation and food services activities according to establishment type 2023
According to data on the classification of hotel establishments operating in Ras Al Khaimah by star for 2023, five- and four-star hotels come in first and second place in terms of occupied rooms number and occupancy rate, with rates of (53%-73%) and (30%-69%), respectively.
Three-star and two-star hotels comes in the third place, with rates (9%-77%). The reason for the high occupancy rate in the latter is due to the low accommodation prices that suit specific guests. Two- and three-star hotels provide comfort and appropriate services in
Table 4-1: Hotel establishment performance by hotel category, 2023
5
Ras Al Khaimah is fast becoming a prime tourism and investment hub, with modern facilities and expanding hotel projects confirming its future as a top destination
terms of cleanliness and quality, compared to five- and four-star hotels that have high specifications in terms of capacity, type of facilities, their quality and sophistication, and the type and number of services they provide. Accommodation prices, therefore, are high compared to two- and three-star hotels, see Table 4-1.
E) Visitors to the emirate quarterly and continentally 2021-2024
Ras Al Khaimah sets new standards every time in its tourist destinations, providing multiple options that meet the tastes and interests of all visitors from all over the world. They benefit from the secure environment, the beautiful climate, and the diversity of lifestyles and tourism areas. By examining the data in Table (5-1) regarding the numbers of visitors quarterly, several important observations were concluded it:
1. The total number of visitors to the emirate decreased from 316.6 thousand visitors in the fourth quarter of 2023 to 291.7 thousand visitors in the first quarter of 2024, a decrease of (8%).
2. On top come the Europeans with 38% of the total visitors in Q1 2024, an increase of 5% over Q4 2023, followed by Gulf Arabs with 31% but with a decrease of (22%) between the two aforementioned quarters, then Asian visitors other than Arabs with 19% and a (5%) decrease.
3. Q1 2024 witnessed a very slight decrease in visitors compared to Q1 2023, at a rate of (0.03%), and it also witnessed a decrease from Q4 2023, at a rate of (8%), in contrast to Q1 2022 compared to Q4 2021 and
able 5-1: Visitors to the Emirate by Annual Quarters and Continent 2021-2024/Thus.
Source: Ras
Q4 2022 compared to Q1 2022. It witnessed a noticeable increase of 147% and 23%, respectively, before decreasing in the first quarter of the years 2023 and 2024 compared to the fourth quarter of the years 2023 and 2022, despite their succession and falling in a period in which the emirate’s climate is characterized by beauty and moderation compared to the rest of the months of the year. We believe that the decrease in visitors in the first quarter of each year and its increase in the fourth quarter is perhaps due to the high demand for travel tickets on the occasion of the annual holidays that coincide with New Year’s celebrations, which may sometimes exceed the month of January of each year.
4. Excluding Q4 2021 due to its significant impact on the Corona pandemic, as happened in Q1 2021 and 2020, data for the quarters 2022, 2023, and Q1 2024 showed that the average number of visitors from the Gulf and other Arab countries amounting to 122 thousand visitors in one quarter of the five quarters of the study ranked first among the number of visitors to Ras Al Khaimah. Europeans, with an average of 96,000 visitors, came in second place, followed by Asians, excluding Arabs, with an average of 56,000 visitors. It is worth noting that most visitors to continental groups witnessed an increase in their numbers during the five quarters period, with the exception of a decrease in some quarters. This indicates an improve-
ment in the performance of this sector and its achievement of a 9% increase in 2023 compared to 2022.
F) Quarterly financial performance of hotel establishments 2021-2024
1. Accommodation and food services revenues increased from AED 1,156.4 thousand in 2022 to AED 1,368.5 thousand in 2023, by 18%. This came as a result of an increase in lodging and food revenues by 17% and 23%, respectively. This high percentage represents a positive reaction to the decline that hotel establishments were subjected to in 2020 due to the Corona pandemic.
2. As for quarterly accommodation and food services revenues, they decreased from 406 million dirhams in quarter 4 of 2023 to 391 million dirhams in quarter 1 of 2024, by (4%). It was affected by a decrease in accommodation and food revenues from 244 million dirhams and 144 million dirhams in the fourth quarter of 2023 to 228 million dirhams and 144 million dirhams in the first quarter of 2024, with decrease rates of (7%) and (0.4%), respectively.
18%
Increase in accommodation and food service revenue between 2022 and 2023
73%
Occupancy rate in five-star hotels in Ras Al Khaimah for 2023
69%
Occupancy rate in four-star hotels in Ras Al Khaimah for 2023
3. This decrease represents a natural reflection of the decline in guest numbers and occupancy rates in the first quarter of each year. It is clear from the data on quarterly total revenues that the quarters of Q4 for the years 2021, 2022, and 2023 witnessed growth and an upward trend in value, in contrast to the quarters of Q1 for the years 2022, 2023, and 2024, which witnessed a decline in each quarter of each year for reasons mentioned above. See Table 3-1 and Table 6. -1.
G) Future trends for tourism in Ras Al Khaimah:
Sustainable development is at the forefront of the vision of the country and the emirate 2030. This vision gives priority to increasing energy efficiency, enhancing the quality of life, achieving sustainable economic growth, and preserving natural environmental resources. The focus is on the energy, industry, tourism, environment and transporta-
al Khaimah Tourism Development Authority -Ras Al Khaimah Statistics Centre
Table 6-1: Quarterly revenues for hotel facilities in RAK, 20212024
Source: Ministry of Economy Federal Centre for Competitiveness and Static--
tion sectors. In light of this, Ras Al Khaimah Tourism Development Authority adopted its strategy, based on:
1. Balanced tourism to achieve sustainability in the environmentally friendly tourism that is consistent with its identity as a destination that enjoys beautiful nature and aspires to be a regional leader by 2025. Four basic pillars will be based on, including sustainable development, preserving cultural heritage, building purposeful destinations and facilities, and community support and livability.
2. Applying sector-specific guidelines when granting licenses for new hotel projects to ensure that best sustainability practices are followed. This is achieved by implementing the conditions of the Green Building Regulations of the Emirate of Ras Al Khaimah “Barjeel”. An example of this is the integrated “Wynn Resort”, which was announced to be the largest foreign direct investment of its kind in the emirate, with more than 1,000 hotel rooms, and a cost of $3.9 billion, which is scheduled to be completed in 2026. In addition, there is the “Sage Mountain Lodge” project, a protected mountain resort that includes a number of lodges made from natural and sustainable materials.
3. Ras Al Khaimah is listed in ’CNN Travel’ list among the best tourist destinations in late 2023. The emirate is also ranked as the best place to visit in Asia in 2024, according to Condé Nast Traveler. Ras Al Khaimah also announced that it has obtained the prestigious silver accreditation certificate within the “Sustainable Destinations” program of the “Earth Check” Foundation. It is a world-leading program in setting scientific standards and issuing accreditation certificates for tourist destinations. Making it the first destination in the Middle East to receive this level of recognition in sustainability.
4. Ras Al Khaimah Tourism Development Authority and Ras Al Khaimah Transport Authority signed an agreement and memorandum of understanding with (Sky Ports Infrastructure), which specializes in constructing infrastructure for the electric air transport sector, to design, develop and operate the first electric flying taxi system with vertical take-off and landing (eVTOL) technology in the emirate. It will be applicable by 2027.
Accordingly, all these plans and efforts will contribute to the development of the emirate’s tourism, place it in the competitive line, increase its contribution to the gross domestic product, and raise its tourism status at the state and regional levels.
CONCLUSION
Preliminary statistics indicate that the number of visitors to the emirate reached approximately one and a half million visitors at the end of the second quarter of 2024. The number is likely to reach nearly two million visitors by the end of 2024, from 1,221,000 visitors in 2023, and to increase to 3 million visitors and more than 20,000 hotel rooms, perhaps before 2030.
The emirate attracted visitors from different countries and continents, including Europeans, 38% of its total visitors in Q 1, 2024, compared to 33% in Q 4, 2023, GCC countries and other Arab countries (36% - 37%), respectively, and non-Arab Asians (19% - 18%), respectively.
This purposeful tourism performance derives its ability from the authority’s strategy to strengthen its position as a destination for the future. This strategy varied between launching initiatives aimed at attracting more visitors to the emirate and developing a tourism system that adopts sustainability, supported by attracting projects and investments worth billions of dollars. These projects are being implemented by specialized international companies, including Wynn Resorts, Nobu Hotels, Aldar Properties, Dubai Investments, Abu Dhabi National Hotels Company, The Luxe Developers Company, as well as the WOW Tourist Resort of the JW Marriott Group, the Oceano Residential Project, electric flying taxi ...etc., Most of them are concentrated on Al Marjan Island and Mina Al Arab, as they are a special location for this prestigious group of luxury hotel and residential projects and entertainment venues. These areas are also supported by the infrastructure that was implemented and is being implemented by sectors related to tourism, such as the aviation, transportation, and others. This will increase the number of visitors and job opportunities in the emirate and raise the sector’s contribution to the gross domestic product in the future
OVER THE TOP
Recognizing five Emirati women championing AI, entrepreneurship, and leadership in the UAE (MBZUAI)
Introduced by the Mother of the Nation, Her Highness Sheikha Fatima bint Mubarak Al Ketbi, in 2015 to elevate and inspire women’s empowerment in the UAE, Emirati Women’s Day (August 28) is the ideal occasion to shine a light on local women who are pushing the boundaries across all areas of society.
It is observed to recognize Emirati women’s efforts and to honor their devotion, fortitude, ambitions, and accomplishments. This is particularly the case at Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), where Emirati women are excelling in their selected specializations of artificial intelligence (AI), from natural language processing (NLP) to its ethical use in industry implementation. Currently, 34 female Emirati students are studying at the university with the total student body totaling 381 from 49 countries (30% female:70% male overall).
FATIMA ALKHOORI, STUDYING PH.D. IN MACHINE LEARNING, MBZUAI
Returning student Fatima AlKhoori received her second master’s as part of MBZUAI’s Class of 2024 in June, receiving her master’s in machine learning to add to her master’s in sustainable critical infrastructure from Khalifa University. The transportation engineer is highly experienced in both industry – having worked as an R&D expert for Etihad Rail – and research.
She is currently pursuing her Ph.D. in machine learning with MBZUAI to continue her research on transformer model architecture to increase the overall accuracy with which autonomous vehicles recognize traffic signs. Her research area is vital to the safe development and integration of autonomous and self-driving vehicles, which need to be able to identify and interpret signs in real-time to ensure that their navigation is safe and effective.
AlKhoori was pleased with the accuracy of the UAE dataset available from the Abu Dhabi Integrated Transport Center combined with a larger publicly available German dataset. Together, the datasets helped teach the algorithm to extract the most relevant data and variables to help machines comprehend traffic signs properly, including the viewing angle, variations in lighting and reflection, shadows, and proximity to other signs. She remains passionate about repaying her home country and using AI and the power of machine learning to solve key transport and infrastructure challenges in the UAE.
DR. HANAN ALDARMAKI, ASSISTANT PROFESSOR OF NATURAL LANGUAGE PROCESSING (NLP), MBZUAI
Dr. Hanan Aldarmaki, who joined MBZUAI as an assistant professor of NLP in 2022, is an expert on Arabic speech and language processing including speech recognition and synthesis. With a background in computer science, software engineering and statistics, Dr. Aldarmaki explores various AI methods including unsupervised learning, transfer learning, and distant supervision to adapt text and speech models to low resource languages and dialects. Dr. Aldarmaki is currently working on speech processing for standard Arabic and dialects, particularly the Emirati spoken language. She aims to document the diversity of Emirati dialects and improve their representation in AI models. She also works on speech and language disorders, such as stuttering and developmental language delay, in addition to sign language processing.
She is passionate about teaching and supporting students to conduct rigorous and impactful research. Dr. Aldarmaki has been representing MBZUAI on the steering committee for the UAE Graduate Students Research Conference (GSRC) - an interdisciplinary annual event which provides opportunities for graduate students to share their research among their peers, receive scholarly feedback, and network professionally across universities in the UAE and with their international partners.
Fatima AlKhoori
Dr. Hanan Aldarmaki
MAHA ALBLOOKI, STUDYING MASTER’S IN NLP, MBZUAI
Maha Alblooki is a standout master’s in NLP student at MBZUAI who is addressing the rich cultural heritage of Arabic proverbs. As part of her thesis research, she is developing a large language model (LLM) designed to preserve the cultural heritage of Arabic, with a focus on preserving Emirati proverbs.
Alblooki has dedicated much of her time to researching Arabic NLP with Bidirectional Encoder Representations from Transformers (BERT); a language model introduced in October 2018 by researchers at Google. She has already achieved substantial contributions in this complex area by fine-tuning BERT models specifically for the Arabic language, significantly improving tasks such as sentiment analysis and machine translation.
Alblooki is pioneering Optical Character Recognition (OCR) for Arabic text, addressing the unique challenges posed by the script’s cursive nature and diacritical marks. Her innovative approach utilizes deep learning techniques to enhance the accuracy and efficiency of OCR systems, facilitating better digitization and preservation of Arabic documents.
MAITHA ALSHEHHI, STUDYING MASTER’S IN MACHINE LEARNING, MBZUAI
Maitha Alshehhi is a full-time master’s student at MBZUAI, focused on advancing the responsible deployment of AI technologies. With a strong commitment to ethical AI innovation, Alshehhi was recognized as a top innovator at G42 Cloud in 2023, where she previously worked as a specialist for automation and management systems.
Her research at MBZUAI focuses on implementing systems that leverage data for enhanced context, enabling AI to be more reliable, contextually intelligent, and adaptable to various scenarios. By ensuring that these technologies are grounded in ethical principles, Alshehhi’s approach significantly strengthens AI governance and risk mitigation and aligns with the UAE’s AI strategy, which prioritizes the responsible and sustainable development of AI to drive progress across industries.
As a woman in AI, Alshehhi is keen to shape a future where AI serves humanity’s best interests, promoting transparency, fairness, and inclusivity. She also wants to inspire and empower the next generation of innovators to embrace AI with integrity and a strong sense of purpose.
Maha Alblooki
Maitha Alshehhi
WAFA ALGHALLABI, STUDYING PH.D. IN MACHINE LEARNING, MBZUAI
Wafa Alghallabi is an MBZUAI alumna with a master’s in machine learning who is returning to pursue her Ph.D. She has dedicated her research to the transformative potential of AI in the medical domain. Her work centers on advancements in medical imaging, with the goal of enhancing diagnostic accuracy and improving patient outcomes.
Beyond her research and publishing papers at some of the world’s leading AI and medical conferences, Alghallabi has embraced the spirit of entrepreneurship by co-founding a startup that aims to bring AI-driven solutions to the healthcare sector. This startup recently won first place at the MBZUAI Incubation and Entrepreneurship Center (MIEC) Pitch Day, where a team from Microsoft formed the judging panel.
For Alghallabi, this achievement was not just a personal milestone but also a reflection of the broader vision of the UAE’s leadership to empower women to rise, lead, and make significant contributions to their nation and their field.
Wafa Alghallabi
Imad Eddine Oubiri International Relations Strategist
Artificial Intelligence (AI) Opportunities and Urgent Challenges in a dynamic World
Artificial Intelligence (AI) has become a transformative force across various sectors, ranging from healthcare to finance, education to entertainment. As businesses and organizations increasingly adopt AI technologies, it is essential to evaluate both the advantages and disadvantages of these innovations. This article explores the applications of AI, highlighting its benefits and potential drawbacks to provide a balanced perspective.
THE PROS OF AI APPLICATIONS
1. Increased Efficiency and Productivity
One of the most significant advantages of AI is its ability to enhance efficiency and productivity. Automated systems can process vast amounts of data at unprecedented speeds, performing tasks that would take humans significantly longer. For instance, in manufacturing, AI-driven robots can streamline production lines, reducing downtime and errors while increasing output. Similarly, AI algorithms can analyze data trends in finance, enabling quicker and more informed decision-making.
2. Improved Accuracy and Precision
AI systems often outperform humans in terms of accuracy. In fields like healthcare, AI can assist in diagnosing diseases by analysing medical images more precisely than radiologists in some cases. Machine learning algorithms can identify patterns in data that might elude human analysts, leading to more accurate predictions in sectors like marketing, where understanding consumer behaviour is crucial.
3. Cost Savings
Implementing AI can lead to significant cost savings over
time. Automation reduces the need for manual labour, minimizing labour costs while decreasing human error. Companies can also lower operational costs by using AI for tasks such as inventory management, where predictive algorithms can optimize stock levels, reducing waste and improving cash flow.
4. Enhanced Customer Experience
AI has revolutionized customer service through chatbots and virtual assistants. These AI-driven tools provide instant responses to customer inquiries, improving satisfaction while allowing businesses to operate 24/7. Personalization algorithms analyse user data to deliver tailored recommendations, enhancing the overall customer experience in sectors such as e-commerce and entertainment.
5. Advancements in Research and Development
In scientific research, AI accelerates discovery by analyzing complex datasets and simulating experiments. For example, in drug discovery, AI can identify potential compounds faster than traditional methods, reducing the time it takes to bring new medications to market. This not only advances healthcare but also has the potential to save lives.
THE CONS OF AI APPLICATIONS
1. Job Displacement
One of the most significant concerns regarding AI is job displacement. As machines and algorithms take over tasks traditionally performed by humans, there is a fear of widespread unemployment. Sectors like manufacturing and customer service are particularly vulnerable, as automation can replace routine jobs. While AI may create new jobs in tech and maintenance, the transition can be challenging for displaced workers.
2. Bias and Discrimination
AI systems are only as good as the data they are trained on. If the training data contains biases, the AI can perpetuate and even exacerbate these biases in decision-making processes. For example, in hiring algorithms, biased data can lead to discriminatory practices against certain demographic groups.
3. Privacy and Security Issues
AI applications often require large datasets, raising concerns about privacy and data security. Collecting personal information to enhance AI performance can lead to breaches of privacy and misuse of sensitive data. High-profile data breaches have shown how vulnerable personal information can be, leading to calls for stricter regulations on data protection.
4. Lack of Accountability
The opaque nature of many AI systems creates challenges in accountability. When an AI makes a decision—be it in loan approvals or criminal justice—determining who is responsible for that decision can be complex. This lack of transparency can lead to mistrust and apprehension among users, as they may feel unable to challenge or understand automated decisions.
5. Dependence on Technology
As AI becomes central to organizations, concerns about over-dependence arise. Over-reliance could erode workers’ skills and reduce human oversight in critical sectors like healthcare, risking severe failures if AI malfunctions. While AI enhances efficiency, accuracy, and customer experiences, challenges like job displacement, bias, privacy, and accountability must also be managed.
By fostering a balanced approach, we can harness the power of AI while mitigating its risks, ensuring that technological advancements contribute positively to humanity as a whole. The dialogue surrounding AI’s future should prioritize ethical considerations, promoting a landscape where innovation thrives alongside fairness and accountability
MAJED AL MANSOORI
Appointed as Executive Director of Museum of the Future
In line with a commitment to reinforcing homegrown leadership and empowering national talents, Mohammad bin Abdullah Al Gergawi, Chairman of the Museum of the Future, has approved the appointment of Majed Al Mansoori as the museum’s new Executive Director.
Majed Al Mansoori will lead efforts to further strengthen the Museum of the Future’s standing as a global hub for future-focused experts and institutions, serving as a platform that brings together global visions, initiatives and partnerships that harness future opportunities to improve quality of life for communities worldwide. Al Mansoori has been responsible for overseeing the museum’s operations, expanding its local, regional, and international partnerships, and enhancing visitor experience.
OF CAMILLA BEVILACQUA
Partner in the Travel and Transportation Practices at Arthur D. Little
MIKE DAVIS
Appointed Chief Financial Officer At Equitativa
Equitativa (Dubai) Limited (“Equitativa”), manager of Emirates REIT (CEIC) PLC (“Emirates REIT” or the “REIT”), announced the appointment of Michael “Mike” Davis as Chief Financial Officer.
Davis is a Senior Banker with more than 15 years of management experience across eight countries and five continents. After a successful career with HSBC in various markets, he worked as Global Head of wholesale banking for Abu Dhabi Islamic Bank and most recently as Group Head of Corporate Banking for Bank ABC in Bahrain.
Arthur D. Little (ADL) has appointed Camilla Bevilacqua as a Partner in its Travel & Transportation practice, expanding the firm’s capabilities in the Middle Eastern market. Based in ADL’s Dubai office, Camilla brings over 16 years of experience advising clients on tourism and real estate strategy development and activation. In her new role, she will focus on creating a center of excellence for tourism consulting across the Middle East within ADL. Camilla joins from PwC, where she was a Director leading the Middle East and North Africa (MENA) Destination Development and Activation. Prior to this, she worked for EY, Accenture, and engineering consultants Ove Arup, supporting clients in multidisciplinary projects across over 15 geographies.
REDEFINING BUSINESS TRAVEL: A FOCUS ON USER EXPERIENCE
Business travel has become increasingly complex, with challenges arising even before departure. SAP Concur research reveals that the pre-trip phase, including planning and booking, is the most stressful for 43% of business travellers—a 4% increase from the previous year.
João Carvalho, managing director of SAP Concur in Southern Europe, Middle East, and Africa says that additional hurdles, such as unexpected travel disruptions and time-consuming expense reporting, further complicate the journey. “As a result, business travellers seek intuitive, consumer-oriented solutions to manage their trips. Without these tools, employees may book outside corporate channels or endure frustrating processes within approved systems. Both scenarios negatively impact businesses, affecting travellers, travel managers, and HR alike.
With this in mind, he outlines four ways consumer-grade tools are setting the standard for corporate travel:
BALANCING TRAVELER SAFETY WITH EFFI-
CIENCY When employees book independently, visibility is lost, creating challenges for travel and HR managers to fulfil duty-of-care obligations. As such, user-friendly travel and expense (T&E) management solutions are crucial to encourage the adoption of corporate tools. These tools also allow employees to book directly with suppliers, while professional management systems capture and integrate these transactions into the company’s T&E solution, ensuring company visibility and support.
MITIGATING RISK AND ENHANCING COMPLIANCE:
Risk and compliance are significant challenges for travel managers. User-friendly systems that
integrate company travel policies can alleviate this burden. These solutions empower travellers to make compliant choices, avoid manual filtering, and stay updated on policy changes. This simplifies the booking process and increases compliance rates.
STREAMLINING BUSINESS TRAVEL:
A seamless booking process with minimal clicks is essential for efficient travel management, encompassing all trip stages: pre-, during, and posttravel. Tools offering consumer-like interfaces and streamlined processes improve employee satisfaction and free up travel managers to focus on strategic tasks rather than troubleshooting.
ADVANCING ESG COMMITMENTS:
Environmental, social, and governance (ESG) standards are fundamental to modern businesses. As sustainable travel gains prominence, companies need tools to empower travellers to make eco-conscious choices. Seamlessly providing accurate information is crucial. For instance, by automatically offering data on the carbon emissions of different travel options, businesses can help travellers make informed decisions that align with the organisation’s ESG goals.
“A superior user experience is crucial for navigating the complexities of business travel. By investing in user-friendly technology, companies can enhance traveller satisfaction, reduce administrative burdens, and empower employees to make eco-conscious and compliant decisions, ultimately transforming business travel management,”
Carvalho concludes
TOURISM
Best Workplaces In The Middle East™️ For The Fourth Consecutive Year
Ras Al Khaimah Tourism Development Authority (RAKTDA) has been certified as a Great Place to Work® for the fourth consecutive year, reinforcing its reputation as a leading organisation in the region.
In a clear reflection of its unwavering dedication to cultivating a high-trust, high-performance culture, RAKTDA has also earned a place on the prestigious ‘Best Workplaces in the Middle East™️ 2024’ list, underscoring its ongoing commitment to creating an environment where employees feel valued, respected, included, engaged, and empowered.
Expressing his pride, Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, said: “This double recognition is a true reflection of our work-
place culture that values innovation, collaboration, and importantly, the wellbeing of our employees. Being certified for four consecutive years and ramping up our status another notch by earning a place on the ‘Best Workplaces in the Middle East™️ 2024’ list is a remarkable achievement on a wider regional scale. He added: “Our success is driven by the collective efforts of our people, and we remain focused on empowering them to achieve their full potential while contributing to the sustainable growth of Ras Al Khaimah as a premier tourism destination.”
This year’s accolades add to a series of recognitions honouring RAKTDA’s efforts to create a “Great Place to Work”. In 2023, the authority ranked 4th in the ‘Best Workplaces in the Public Sector for the GCC,’ and in 2022, was named one of the ‘Best Workplaces in the UAE & the Middle East for Small & Medium Organisations’. RAKTDA was also recognised as one of the ‘Best Workplaces for Millennials ‘ and one of the ‘Best Workplaces in UAE’ in 2022, and the year before (2021), was not only honoured as one of the ‘Best Workplaces in the Public Sector in the UAE’, but ranked 11th on the ‘Best Workplaces for Women 2021’ in the small-sized organisation category.
The Great Place to Work® certification is awarded based on rigorous criteria, including employee satisfaction, involvement in decision-making, and alignment with the organisation’s goals and values.
RAKTDA distinguishes itself through initiatives that prioritise healthy and productive working environment, work-life balance, transparent communication, and employee recognition, all of which are integral to its workplace culture. These initiatives have driven the authority to implement forward-thinking programmes that benefit its employees while advancing its mission to promote the sustainable growth of Ras Al Khaimah’s tourism sector. In addition to fostering a thriving workplace, RAKTDA remains dedicated to the broader community through its Emirate development plan. This includes supporting local tourism establishments, addressing industry talent challenges, and enhancing educational opportunities for the next generation
Air Arabia expands Ras Al Khaimah network with the launch of new route to Moscow
Air Arabia, launched a new route connecting Ras Al Khaimah International Airport with Moscow Domodedovo International Airport. Starting on December 27th, 2024, the non-stop service will operate three times a week, enhancing direct connectivity between the two cities. This scheduled frequency will provide travellers with more flexible options, making it easier to plan both business and leisure trips. The new service not only strengthens ties between both destinations but also offers a more convenient, regular connection, allowing passengers to enjoy a seamless and reliable travel experience
Anantara Mina Al Arab Ras Al Khaimah Announces its LEED Gold certification for 2024
Anantara Mina Al Arab Ras Al Khaimah Resort, developed by RAK Properties, has achieved LEED Gold certification for 2024, solidifying its position as a leader in sustainable luxury hospitality. Situated on a private peninsula amidst natural mangroves, the resort incorporates sustainable design, energy-efficient technologies, water conservation, and eco-friendly materials, minimizing its environmental impact without compromising the guest experience. This achievement aligns with Anantara’s vision for a greener future and its ethos of preservation for future generations.
Discover the top destinations, bestvalue spots and emerging travel vibes set to define the year
Global travel app Skyscanner shares the latest trends shaping industry and traveller behaviour in its Travel Trends 2025 report. While last year was all about cultural exploration, 2025 will build on this as the year of truly shared travel experiences, highlighting the power of collective exploration and discovery. Built using Skyscanner’s proprietary search data, a specially commissioned traveller survey and trusted industry insights, today Skyscanner reveals its top 10 trending destinations, 10 best-value destinations as well as the future of travel.
The best budget-friendly places in 2025 for UAE travellers
When choosing where to go, cost still plays the most important part. Traveling from the UAE to exciting destinations has become more affordable due to recent airfare reductions. Bucharest, Romania, now offers a 35% price drop, making its historic charm and modern flair more accessible. Trabzon, Turkey, with a 31% fare reduction, is attractive for its natural landscapes and rich history. Beijing, China, has seen a 23% decrease, making ancient wonders like the Great Wall more budget-friendly. Tokyo, Japan, with a 22% drop, offers a blend of traditional culture and modern innovation. Lastly, Baku, Azerbaijan, with a 20% reduction, combines futuristic architecture with rich heritage. These reductions are due to expanded flight routes and increased airline competition, providing travellers with great opportunities to explore these destinations at lower costs.
Collective exploration and discovery top the agenda in 2025
According to the report, travellers are increasingly seeking travel experiences that foster community and collective discovery, aiming for deeper connections and shared adventures.
The top trends in the UAE include:
Astro-tourism:
Astro-tourism combines the adventure of exploring celestial events alongside the mystical insights of astrology. Astrology is something more UAE travellers are enjoying, especially among Gen X, who are seeking a sense of connection with the cosmos. 61% of UAE travellers say planetary and lunar activity, such as full moons and Mercury retrograde, can heighten their sense of emotion and disrupt their travel plans.
Gami-Vacation:
With the release of flagship video game titles and new consoles, 2025 is set to be a massive year in gaming. And the excitement won’t just be felt in people’s homes – the world of travel will see the effects as gamers bring their online world into real life and share their love of gaming with others from around the world. 81% of UAE travellers are inspired to book a trip abroad based on locations from their favourite video game.
Sports Mode:
The rise of ‘behind-the-scenes’ sports shows like Netflix’s Drive to Survive, Break Point and Full Swing are bringing
sports to new audiences like never before, fuelling a growth in sports travel to experience these events and destinations with other like-minded fans in real life. 43% of 25-34-yearolds, and 45% of all UAE travellers, plan to travel either domestically or internationally to see a sporting event in 2025. Their top three reasons include entertainment (65%), feeling of excitement (58%), and getting to see their favourite sporting star(s) in action (44%).
The most popular places to travel in 2025
The latest travel trends showcase UAE travellers are increasingly interested in a variety of destinations that offer unique experiences, value, and a mix of culture, adventure, and affordability. Below are the top trending destinations for UAE travellers with the biggest year-on-year increase in searches.*
• Siem Reap, Cambodia +226% search increase
• Nassau, Bahamas +180% search increase
• Langkawi, Malaysia +150% search increase
• Bishkek, Kyrgyzstan +127% search increase
• Abidjan, Ivory Coast +102% search increase
Affordable destinations for UAE travelers in 2025 include Bucharest, Trabzon, Beijing, Tokyo, and Baku. Top trends
are astro-tourism, gamivacation, and sports travel. Popular destinations see surge in searches.
Skyscanner’s Travel Expert, Ayoub El Mamoun, comments: “2025 is set to be the year of collective travel experiences, where the joy of shared adventures and deeper connections will define our journeys. At Skyscanner, we’re excited to see travellers embracing community and discovery, making every trip a memorable story of togetherness. Whether it’s exploring new destinations, experiencing the thrill of sporting events, or connecting with fellow gamers and astro-enthusiasts, the power of collective exploration is transforming the way we travel. We believe that these shared experiences not only enrich our lives but also foster a greater sense of global community and understanding.”
Majid Al Futtaim and Tabby unveil new SHAREPay integration feature for enhanced shopping experience
Majid Al Futtaim, the pioneer in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Asia, proudly announces the continued success of its strategic partnership with Tabby, the leading shopping and payments app in the GCC.
The collaboration now extends to integrating Tabby into the SHARE app through SHAREPay, making Majid Al Futtaim the region’s largest BNPL service provider. The integration allows customers to split payments into four interest-free installments across all stores, with a particular focus on home furnishing and luxury shopping categories. The partnership has yielded impressive results, including a 25-50% increase in Average Order Value, with Carrefour seeing a 70% increase and Crate and Barrel a 30% rise. Purchase frequency has grown by approximately 45%, particularly among younger consumers, demonstrating the success of this strategic alliance in enhancing customer experience and financial flexibility. SHAREPay, linked to the SHARE loyalty program, enables users to accumulate and spend points seamlessly across various Majid Al Futtaim brands and partners.
MultiBank Group Awarded ‘Best FX Institutional Liquidity Provider’ at Forex Expo Dubai 2024
MultiBank Group, the world’s largest and most regulated financial derivatives broker headquartered in Dubai, has been honoured with the prestigious ‘Best FX Institutional Liquidity Provider’ award at Forex Expo Dubai 2024. With daily trading volumes exceeding $15.6 billion and serving over 1 million clients globally, MultiBank Group demonstrates excellence in forex standards and regulatory compliance. Chairman Naser Taher emphasized their commitment to premium liquidity solutions and innovative trading technology under robust regulatory oversight.
du Embarks on Digital Transformation Journey with New Cognizant Partnership
ognizant and du have formed a five-year strategic partnership to enhance du’s digital transformation journey. Cognizant will provide comprehensive services including quality engineering, automation, and governance across various support systems. The collaboration aims to improve du’s enterprise architecture and solution design, reducing time to market while aligning with UAE’s innovation goals. This partnership will enable du to deliver enhanced service quality and personalized digital experiences to its clients, strengthening its position in the evolving telecommunications industry across the region.
Dubai Investment Real Estate and Al Mujama Unveil 1.2MW solar power plant in Ritaj
In line with the UAE’s Net Zero by 2050 Target and 2050 Clean Energy Strategy, Dubai Investment Real Estate (DIR), a leading real estate developer in the UAE, Al Mujama, a leading Owners Association in the UAE, Yellow Door Energy (“YDE”), the leading sustainable energy provider for businesses in the Middle and Africa, and Clyde Engineering, today successfully inaugurated a 1.2 megawatt-peak solar power system. The solar power system is spread across 9 residential buildings in the premier residential community of RITAJ, located in Dubai Investments Park. Over 2,000 solar panels
African Luxury Powerhouse Ambiance by Talata Bringing African Heritage to Dubai’s Beauty Scene
Ambiance by Talata, Ghana’s luxury fragrance and beauty care brand, has marked its Middle East debut with a new store at Dubai Ladies Club. The brand combines African cultural heritage with premium ingredients from Grasse, France, incorporating traditional African elements like Baobab oil, Shea butter, and Aloe vera. Each meticulously crafted fragrance tells a unique story inspired by Africa’s diverse landscapes and cultures, bringing authentic luxury African beauty experiences to Dubai’s sophisticated market. The strategic location at Dubai Ladies Club reflects the brand’s commitment to offering an exclusive and immersive African luxury experience to discerning UAE customers.
have been installed on the roofs of the buildings, producing 1.9 million kilowatt-hours of clean electricity in the first year of operation, meeting 30% of the buildings’ energy consumption needs. This is equivalent to reducing carbon emission by 756,000 kilograms per year. The project operates under a solar lease, whereby significant cost savings are realized for Al Mujama without expending its own capital investment.
The inauguration of the solar power plant marks a significant milestone in the journey towards sustainable development and energy efficiency in the UAE’s real estate sector in alignment with the UAE’s Net Zero by 2050 target. The collaboration integrates technological innovation and environmental stewardship to set a precedent for incorporating renewable energy solutions in residential communities and pave the way for more sustainable projects.
GlobalPharma captures 1.8% market share, marking unprecedented growth in Saudi Arabia
UAE-based Globalpharma has achieved a 1.8% market share in Saudi Arabia’s pharmaceutical market, with sales reaching $12.6 million in May 2024, a 139.5% increase from last year. The company’s total sales hit $33.2 million in early 2024, growing 78.6%, while annual sales reached $70.3 million, up 44.7%.
