S&P keeps Ras Al Khaimah at “A/A-1”

Ras Al Khaimah has once again earned international confidence in its economic model, with Standard & Poor’s (S&P) Global reaffirming the Emirate’s credit rating at “A/A-1” with a stable outlook. 

The decision keeps Ras Al Khaimah solidly positioned among the highest-rated economies in the region.

In its latest assessment, US-based S&P Global said the stable outlook reflects expectations that Ras Al Khaimah’s economic growth, fiscal performance and low debt levels will remain resilient over the forecast period.

Tourism, Infrastructure and Industry Drive Growth

The agency highlighted ongoing tourism and infrastructure developments as key engines of growth. It also noted strong performance across tourism, real estate, manufacturing and mining, sectors that together underpin the Emirate’s diversified economic structure.

The economic outlook is bright. S&P expects:

• GDP growth to accelerate above 4% by 2027–2028
• GDP per capita to rise to around USD 32,600 by 2028

Upcoming mega-projects, including new tourism destinations, enhanced infrastructure and expansion of economic free zones, are all projected to strengthen Ras Al Khaimah’s business environment.

The Emirate continues to adopt a strategically prudent fiscal policy, consistently maintaining low debt levels and recurring fiscal surpluses — a key factor in S&P’s stable outlook.

Ras Al Khaimah’s economy is one of the most diversified in the UAE, spanning tourism, real estate, advanced manufacturing, mining, trade, economic free zones

This diversity enhances the Emirate’s ability to attract global businesses, talent and investment, while supporting long-term resilience in a shifting global economy.