Dubai solidifies its status as the premier global destination for foreign direct investment (FDI).
As per data from the Financial Times “fDi Markets,” Dubai maintains its lead in attracting Greenfield FDI projects globally for the third consecutive year in 2023.
The city secures the top spot globally across various sectors, including consumer goods, energy, e-commerce, and tourism, for attracting Greenfield FDI projects, capital, and job creation.
Aligned with the ambitious goals outlined in the Dubai Economic Agenda D33, launched by Sheikh Mohammed bin Rashid Al Maktoum, Dubai aims to double its economy by 2033, showcasing robust economic growth and appeal to international investors.
In 2023, Dubai outshines with 1,070 global Greenfield FDI projects, surpassing Singapore and London by significant margins.
Dubai’s global share in attracting such projects has tripled in the past five years, reaching 6% in 2023 from 1.7% in 2019.
Dubai retains its top position globally for HQ FDI projects, attracting 60 projects in 2023, reinforcing its appeal as a headquarters destination.
The city also performs impressively in job creation through inward FDI, ranking fourth globally, and in Greenfield FDI capital attraction, ranking fifth globally.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum highlights Dubai’s ability to continually generate opportunities for global businesses, supporting the objectives of the Dubai Economic Agenda D33.
Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism, credits Dubai’s sustained leadership in global FDI to strategic collaborations and initiatives, reaffirming its status as a premier global investment hub.
Hadi Badri, CEO of Dubai Economic Development Corporation, emphasizes Dubai’s stable environment for international investment, with strong growth across various sectors, creating jobs and attracting skilled professionals.
Dubai sees a 39% increase in announced FDI projects in 2023, with significant job creation primarily in retail, business services, headquarters, sales, marketing support, and manufacturing.
The technology sector witnesses a surge, with high and medium-tech projects accounting for 58% of total FDI, positioning Dubai as a top destination for AI, FinTech, cloud computing, and cybersecurity.
Despite a global increase in FDI flows, Dubai attracts AED 39.26B ($10.69B) in total FDI capital in 2023, with top source countries including Canada, the United States, Saudi Arabia, the United Kingdom, and India.
The financial services sector leads in FDI capital, followed by business services, consumer products, software and IT services, and textiles, indicating a preference for service-oriented industries.
Business services remain dominant in terms of FDI projects and capital, followed by retail, recycling, construction, and headquarters, showcasing their pivotal role in Dubai’s economic landscape.
