Report predicts 400% increase in hospitality jobs in Ras Al Khaimah by 2030
A recent report indicated expectations of a 400% increase in hospitality jobs in Ras Al Khaimah by 2030. In the second edition of the “Investment Pulse in Ras Al Khaimah” report, Sterling Hospitality Advisors revealed the impact of attracting and retaining employees in improving the quality of services and enhancing the emirate’s reputation as an attractive destination for settlement and work.
“We are delighted to release the latest edition of the Ras Al Khaimah Investment Pulse report, which highlights the crucial role that employees play in the expansion of the emirate’s hospitality sector,” said Tatiana Feller, Managing Director of the company. “In a competitive environment for hotel development, attracting and retaining highly skilled workers is essential, along with other key factors including competitive salaries, additional benefits, quality of life initiatives, housing and career progression opportunities. We strive to deepen our understanding and appreciation of the workforce, enabling companies to succeed in this vital sector.”
Ras Al Khaimah’s GDP is forecast to grow by 80% by 2030, and its population is set to increase by 55%, from around 400,000 to nearly 620,000, primarily due to the influx of expatriates. On the other hand, statistics show that the majority of the workforce in the hospitality sector is non-managerial (88%), with the majority aged between 25 and 35 years.
Ras Al Khaimah Hotels
Currently, 4- and 5-star hotels account for 77% of the emirate’s total hotels, and more than 85% of the workforce in Ras Al Khaimah’s hospitality sector is employed full-time. The Wynn project is expected to create around 7,000 jobs, more than doubling the number of hospitality workers by 2027. By 2030, the number of luxury and premium hotel rooms in Ras Al Khaimah is expected to triple, bringing the number of workers in the sector to 25,200.
Recommendations for employee retention
Based on the report’s findings, Sterling Hospitality Advisors recommended several strategies to retain employees in Ras Al Khaimah, including adjusting financial incentives to match the rising cost of living, aligning additional benefits with those offered in the rest of the emirates to attract top talent, improving the quality of accommodation for employees by providing the best amenities and recreational facilities, and highlighting the career advancement opportunities that the emirate can offer to attract aspiring professionals. Sterling Hospitality Advisors is a subsidiary of RAK Hospitality Holding, and manages assets of over 3,500 hotel rooms in three countries, and owns a hotel and resort portfolio worth over AED 4.587 billion.
