Dubai International Financial Centre (DIFC), the leading financial hub for the Middle East, Africa, and South Asia (MEASA), has reported record-breaking financial results for 2024, coinciding with its 20th anniversary.
The number of active companies in DIFC rose by 25 per cent year-on-year, reaching 6,920 in 2024, up from 5,523 in 2023. The centre also registered 1,823 new firms, the highest annual increase to date, reflecting 25 per cent growth.
DIFC’s total revenue surged to Dhs1.78bn ($484m) in 2024, marking a 37 per cent rise from 2023. Operating profits also grew significantly by 55 per cent, reaching Dhs1.33bn ($363m), representing the largest annual increase since DIFC was established.
Vision for Expansion
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, credited DIFC’s growth to the vision of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, in positioning Dubai as a financial powerhouse.
“DIFC’s remarkable expansion over the past two decades reflects HH Sheikh Mohammed bin Rashid Al Maktoum’s ambition to make Dubai a global leader in financial services. This achievement solidifies Dubai’s status as a premier financial hub,” Sheikh Maktoum stated.
He further highlighted that DIFC’s strong performance supports Dubai’s broader strategy to develop a sophisticated financial ecosystem for the future.
The technology and innovation sector played a key role in DIFC’s expansion, with company numbers increasing by 38 per cent to 1,245 in 2024, largely driven by the Dubai AI Campus. Additionally, DIFC’s workforce grew by 10 per cent to 46,078 employees, reflecting job creation from both new and existing firms.
