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Arabian Post
2 days ago
- Business
- Arabian Post
Dubai Strengthens Global Lead in Creative Sector Investment
Arabian Post Staff -Dubai Dubai has solidified its position as the premier global destination for greenfield foreign direct investment in the cultural and creative industries , securing the top spot in the Financial Times' fDi Markets ranking for the third consecutive year. In 2024, the emirate attracted 971 CCI projects, marking an 8% increase from the previous year. These ventures brought in AED 18.86 billion in capital inflows, a surge of nearly 60% compared to 2023, and generated 23,517 new jobs, reflecting a 9% year-on-year rise. ADVERTISEMENT The report evaluated 233 cities under the 'Creative Industries Cluster' classification, with Dubai outperforming major global hubs such as London and Singapore. Key growth areas within Dubai's CCI sector included advertising and public relations, film and media production, gaming, education, and advanced software design. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures constituted 76.5% of all projects, while new forms of investment accounted for 15.4%, reinvestment 5.6%, and mergers and acquisitions 2.4%. Flexible government policies have played a significant role in boosting FDI flows into the CCI sector, enhancing Dubai's appeal to investors, entrepreneurs, and innovators. Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, stated, 'Through strategic planning and pioneering initiatives, Dubai has cultivated an environment that empowers creatives, investors, and entrepreneurs to realise their ideas and turn them into impactful, sustainable projects that enrich the emirate's cultural fabric.' The United States led in terms of FDI capital inflows into Dubai's CCI sector in 2024, contributing 23.2%, followed by India , the United Kingdom , Switzerland , and Saudi Arabia . In terms of the number of FDI projects, India topped the list with 18.8%, followed by the United Kingdom , the United States , Germany , and Italy .
Web Release
07-05-2025
- Business
- Web Release
Dubai Tops Global Rankings for Cultural and Creative FDI in 2024
Dubai has reaffirmed its global leadership in the cultural and creative industries by ranking first worldwide for greenfield foreign direct investment (FDI) projects in the sector for the third consecutive year. According to the 2024 fDi Markets report, the emirate attracted 971 projects last year—an 8% increase from 2023—securing AED 18.86 billion in capital inflows and generating 23,517 new jobs. This continued dominance in the creative economy highlights Dubai's effective policy environment and future-ready infrastructure. Dubai Culture attributed the achievement to robust legal frameworks, strategic initiatives such as the Dubai Economic Agenda D33 and the Creative Economy Strategy, and the emirate's consistent efforts to foster a vibrant and inclusive business ecosystem for global creatives and investors. Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, described the achievement as a testament to Dubai's growing global competitiveness and enduring appeal. 'Dubai has ranked as the top city worldwide in foreign direct investment projects in the cultural and creative industries for 2024, maintaining its lead for the third consecutive year. Out of 233 cities ranked, Dubai outperformed major global hubs,' Sheikha Latifa said. She underscored the pivotal role of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in shaping the city's vision as a world-class creative capital. His leadership, she noted, has transformed Dubai into a magnet for talent, innovation, and bold ideas. 'We take pride in every individual who chooses Dubai to realise their boldest dreams,' she added. 'FDI plays a vital role in driving comprehensive and sustainable development, affirming Dubai's leading role on the global cultural map.' The city's evolution into a creative powerhouse is underpinned by a supportive regulatory environment, investment in digital and cultural infrastructure, and a dynamic artistic ecosystem that fuels innovation and economic diversification. According to the Creative Dubai 2024 Impact Report , the creative sector contributed AED 21.9 billion to Dubai's economy in 2022, representing 4.6% of the emirate's GDP. The sector employs over 175,000 individuals and continues to play a critical role in shaping both cultural expression and economic resilience. Globally, the cultural and creative industries account for 3.1% of the world's economy, with revenues estimated at $2.3 trillion. Leading nations such as China, the USA, Italy, Hong Kong, and Germany dominate creative exports. In the MENA region, the UAE has emerged as the frontrunner, with creative goods and services exports valued at $13.7 billion—surpassing peers such as Egypt, Lebanon, Saudi Arabia, and Tunisia. These figures reinforce Dubai's position not only as a regional leader but as a pivotal contributor to the global creative economy. Dubai's prowess extends beyond the creative industries. In 2024, the city was named the world's top destination for greenfield FDI projects across all sectors for the fourth consecutive year, based on fDi Markets data from the Financial Times Ltd. Dubai attracted AED 52.3 billion ($14.24 billion) in estimated FDI capital—a record 33.2% increase from AED 39.26 billion ($10.69 billion) in 2023. The city launched 1,117 greenfield FDI projects in 2024, the highest number in its history. In total, 1,826 FDI projects were announced, up 11% from 2023, marking another historic milestone. This investment surge translated into 58,680 new jobs, a 31% rise year-on-year, reaffirming Dubai's role as a global magnet for capital, talent, and innovation. Dubai's commitment to nurturing its cultural and creative sectors aligns with broader national goals to diversify the economy, empower creative entrepreneurs, and build sustainable global partnerships. Through initiatives like the Dubai Creative Economy Strategy, the emirate is positioning itself as a future-forward city that seamlessly blends culture, commerce, and innovation. By cementing its leadership in creative FDI, Dubai is not only elevating its international stature but also creating a blueprint for cities worldwide aspiring to unlock the economic potential of creativity.
05-05-2025
- Business
Dubai Leads Global Cities in Attracting Creative Industry Investments in 2024
Dubai has once again claimed the top spot globally for attracting foreign direct investment (FDI) in cultural and creative industries (CCI), according to the Financial Times' fDi Markets report. This marks the third consecutive year the emirate has outpaced 233 cities, including London and Singapore, reinforcing its status as a global hub for creativity and innovation. In 2024, Dubai attracted 971 CCI-related Greenfield FDI projects—an 8% increase from the previous year—resulting in capital inflows of AED18.86 billion and creating over 23,500 new jobs. The city's performance was driven by growth in diverse sub-sectors, including digital media, software design, AI, advertising, and education. Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, attributed this continued success to the forward-looking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. She highlighted Dubai's evolving creative ecosystem as a catalyst for long-term economic and cultural development. Key policy reforms also played a critical role. Measures such as Executive Council Resolution No. (11) of 2025—allowing free zone businesses to expand operations citywide—and initiatives like the Zero Government Bureaucracy programme have streamlined regulations and boosted investor confidence. According to the Dubai FDI Monitor, the United States led in capital inflows, while India topped both project count and job creation. Greenfield investments dominated the sector, accounting for over 76% of all FDI activity in CCI. Officials emphasized that Dubai's regulatory clarity, innovation-focused strategies like the Dubai Economic Agenda D33, and strong IP protections continue to attract global talent and investment. With ambitions to make the creative sector contribute 5% to GDP by 2026, Dubai is well on its way to becoming one of the world's top three urban economies. News Source: Dubai Media Office
The National
10-03-2025
- Business
- The National
Dubai retains top spot for attracting greenfield FDI projects
Dubai was ranked as the world's top destination for greenfield foreign direct investment (FDI) projects for the fourth consecutive year, last year, as the emirate continues to attract investment despite global economic headwinds. Dubai attracted 1,117 greenfield FDI projects worth more than Dh52.3 billion ($14.24 billion), in 2024, a 33.2 per cent increase from 2023, the Dubai Media Office said on Sunday, citing the Financial Times fDi Markets data. In terms of the greenfield FDI value, this was the highest ever recorded by the emirate in a single year since 2020, and in project numbers, it was the highest ever in its history. Dubai also announced 1,826 FDI projects last year, up 11 per cent year-on-year, with 58,680 jobs created, a 31 per cent increase compared to the previous year. 'Even amid economic headwinds elsewhere, Dubai continues to rise as a global magnet for investment, enterprise and talent, offering stability, world-class infrastructure, and a dynamic business environment,' said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence. The latest data comes as Dubai aims to double the size of its economy to Dh32 trillion over the next decade and establish the emirate among the top three global cities as part of its D33 strategy. The plan aims to support 30 private companies in their push to become so-called unicorns – start-ups worth more than $1 billion. The D33 agenda also aims to make Dubai a global digital economy leader, the fastest-growing and most attractive global business centre, a hub for sustainability and economic diversification, as well as an incubator for talented Emiratis by 2033. In the first nine months of last year, Dubai's economy grew by 3.1 per cent, reaching Dh339.4 billion, with growth largely driven by strides in several sectors including the wholesale and retail trade, transport and storage and the financial and insurance activities. Last year, the emirate was also ranked fourth globally last year for attracting greenfield FDI capital, up from fifth position in 2023, while also claiming the top spot in the Middle East and Africa region, according to the Financial Times fDi Markets data. The city also advanced from fourth to third globally in terms of jobs created through inward FDI last year, securing the top position in the Middle East and Africa. For the third consecutive year, Dubai was also ranked top destination globally in attracting Headquarter FDI projects, with 50 projects last year. Regionally, Dubai was ranked number one in greenfield FDI projects, capital, and jobs in the Middle East and Africa region. Dubai's share of global FDI projects in Advanced Information Technologies increased from 7.3 per cent in 2023 to 8 per cent last year, the data shows. Last year, new forms of investments recorded a 23 per cent increase, while reinvestments surged by 98 per cent, highlighting sustained investor confidence and business expansion within the emirate. Venture capital-backed FDI increased by 39 per cent and mergers and acquisitions (M&As) rose by 8 per cent during the period. India was the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5 per cent, followed by the US at 13.7 per cent, France with 11 per cent, the UK at 10 per cent and Switzerland with 6.9 per cent. In terms of total announced FDI projects for Dubai, the UK emerged as the top source country, followed by India, the US, France and Italy, according to the data. Based on FDI capital, the leading sectors were hotels and tourism, real estate, software and IT services, building materials and financial services, while for FDI projects, the top sectors were business services, food and beverages, software and IT services, textiles and consumer products. Dubai's FDI outlook for 2025 "remains positive" amid shifting economic dynamics, the media office said. 'The city is expected to continue attracting significant investment, particularly in high tech and innovation-driven sectors.' "Looking ahead, Dubai remains committed to setting new benchmarks in global competitiveness .... Our focus on innovation, start-up incubation, and digital-first infrastructure ensures that Dubai will continue to be the destination of choice for those seeking growth, opportunity and success in the global economy," said Helal Almarri, director feneral of the Dubai Department of Economy and Tourism.
