Mashable: Move over Dubai, there's a new rising star in the Emirates! Ras Al Khaimah (RAK) is making headlines once again, this time as a potential haven for billionaires. Earlier this year, this tiny Emirate gained attention as the top destination for dreamy weddings, and now it's aiming even higher. With whispers of fierce competition with Dubai, RAK is quickly emerging as the next hot tourist spot in the Middle East, offering a mix of luxurious Emirati cuisine and thrilling mountain adventures.

But what's driving this transformation? RAK has set its sights on attracting foreign direct investment, specifically targeting high-end hotels, business tycoons, and adventure-seeking travelers from countries like Russia and the Czech Republic. They're pulling out all the stops to ramp up tourism and entice wealthy investors to set their sights on this growing Emirate.

One of RAK's bold moves is the creation of a new free zone specifically tailored for businesses dealing with digital and virtual assets. This has already attracted tens of thousands of international companies, with RAK ICC leading the charge in registering and incorporating them.

RAK's comprehensive growth plan aims to compete with the glamorous city of Dubai by attracting investors and diversifying its resources. The government is taking a careful approach, considering the financial, social, and cultural returns on capital. As one of the smallest emirates in the UAE, RAK knows it will face challenges along the way, but its ambitious intentions and determination to succeed drive its forward momentum. The ultimate goal? To entice a significant number of affluent individuals from around the world to settle in RAK permanently, turning the influx of tourists into long-term economic benefits.

With its breathtaking landscapes and ambitious vision, Ras Al Khaimah is poised to become the next big thing in the Emirates. All eyes are on this tiny gem as it sets its sights on shining brighter than ever before.