Dubai secures a spot among the world’s top destinations for greenfield Foreign Direct Investment (FDI) projects, attracting 1117 projects worth over $14.42 billion in 2024 which is a 33.2% increase from 2023.
Last year, the city further revealed 1826 projects FDI projects which is an 11% year-on-year rise, consequent generation of economic activity creating 58,680 jobs which is an increase of 31% from the previous.
The deputy prime minister – Sheikh Hamdan bin Mohammed Al Maktoum stated “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.”
With Dubai’s Economic Agenda (D33) underway, the authorities continue to harness the full potential of every avenue to double the size of Dubai’s economy to $8.7 trillion. So far, the economy is at a size of $339.4 billion after a 3.1% growth in the first nine months of 2024.
According to the FDI capital, the leading sectors are hotels and tourism, real estate, software and IT services, building materials, and financial services. Whereas, based on the FDI projects, the top sectors are business services, food and beverages, software and IT services, textiles, and consumer products.
The director general of the Dubai Department of Economy and Tourism – Helal Almarri said “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.”
This optimism is supported by positive figures, with India leading as the top source of FDI capital at 21.5%, followed by the US at 13.7%, France at 11%, the UK at 10%, and Switzerland at 6.9%.
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