- The stable outlook reflects the agency’s view that Ras Al Khaimah Government will remain committed to prudent fiscal and economic policies and preserve its substantial net asset position
- The report underlines notable progress on the government’s long-term commitment to establish stronger economic institutions
September, 2026, Ras Al Khaimah, UAE: Ras Al Khaimah’s credit rating has been affirmed at ‘A/A-1’ by international credit ratings agency Standard & Poor’s (S&P) Global, with a ‘stable’ outlook.
U.S.-based S&P Global, one of the ‘Big Three’ credit-ratings agencies, stated that the Emirate’s stable outlook reflected the agency’s expectation that Ras Al Khaimah Government will remain committed to prudent fiscal and economic policies and preserve its substantial net asset position.
The international credit ratings agency forecasts that Ras Al Khaimah’s fiscal position will be supported by a strong revenue performance.
A spokesperson for Ras Al Khaimah Government said: “Time and time again, the Emirate of Ras Al Khaimah has proven its ability to navigate challenges and maintain its prospects for growth and development, guided by the wise and forward-looking leadership of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. These accomplishments have inspired growing confidence in the Emirate and its economy, which we now see reflected in S&P’s decision to once again affirm Ras Al Khaimah’s rating and stable outlook, while also anticipating positive fiscal performance over the coming three years.”
The report underlines progress on Ras Al Khaimah Government’s long-term commitment to establish stronger economic institutions, such as the RAK Statistics Center (RAKSC). The report also points to the financial and economic flexibility of the UAE as an effective buffer against the impacts of regional developments.
Furthermore, the report notes that the government’s net asset position provides some safeguard against possible fiscal pressures, projecting that the Emirate’s fiscal position will be supported by a strong liquid asset position, as well as continued revenue growth, which is set to ramp up over the 2028-2029 period.
Ras Al Khaimah, the northernmost of the UAE’s seven Emirates, is home to a thriving and diversified economy with growth recorded and projected across all industries. The Emirate’s GDP composition is split over a variety of sectors, boosting its ability to attract and retain talent and businesses, from SMEs to large international companies.
About Ras Al Khaimah:
Ras Al Khaimah (RAK), the fourth largest Emirate in the UAE, is known for its nature, rich history and progressive vision under HH Sheikh Saud bin Saqr Al Qasimi. Committed to sustainable development, economic prosperity, social development and innovation, RAK is an ideal place to live, work and invest.
Strategically located – with one third of the world’s population within a four-hour flight – RAK is a gateway to the Middle East and beyond. Its economy is diverse, with no sector accounting for more than 27% of GDP. The Emirate offers a business-friendly environment with competitive operating costs, 100% foreign ownership, zero income tax and low corporate tax. It is home to over 73,000 companies, with RAKEZ and Innovation City supporting growth across industrial, manufacturing and digital sectors, backed by a future-focused economy validated by ‘A’ range credit ratings since 2008.
Its 0.4 million population comprises 150+ nationalities, each appreciating RAK’s high quality of life and accessible luxury living. Its bold hospitality projects involve luxury global brands, such as Wynn, Four Seasons, Nobu, Waldorf Astoria and Ritz-Carlton. RAK Central will redefine the commercial and residential landscape, while RAK’s the Emirate’s natural beauty (UAE’s highest mountain, beaches and deserts) and rich heritage further enhance its appeal.
With year-round sunshine, simple business set-up, a competitive cost of living and great lifestyle, Ras Al Khaimah offers limitless opportunities.
