Dubai has retained its title as the world’s leading city for attracting Greenfield Foreign Direct Investment (FDI) projects, according to data from Financial Times Ltd’s ‘fDi Markets’.
In the first half of 2024, Dubai attracted 508 Greenfield FDI projects, capturing a 6.2 per cent share of the global market, up from 5.7 per cent during the same period last year.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Minister of Defence, praised the city’s evolving economic policies and infrastructure as key factors in its appeal to investors and multinational corporations.
Notably, Dubai ranked ahead of major financial hubs like London, Singapore and New York, securing the top spot for six consecutive half-year periods.
In addition to leading globally, Dubai improved its ranking for attracting Greenfield FDI capital, moving from sixth to third place worldwide and from third to first in the Middle East and North Africa.
The city announced a total of 801 FDI projects valued at AED 21.85 billion in the first half of 2024, continuing to strengthen its status as the region's premier investment hub.
.@HamdanMohammed: #Dubai has significantly strengthened its position as a major player in the global economic landscape thanks to Mohammed bin Rashid’s forward-looking vision. Dubai's evolving economic policies, and its constantly developing infrastructure, continue to… pic.twitter.com/nOcJSAxY4s
— Dubai Media Office (@DXBMediaOffice) October 3, 2024
For jobs created through inward FDI, Dubai ranked fifth globally in H1 2024 and continued to hold the top position in the MENA region.
According to Dubai FDI Monitor data, Dubai experienced a surge in talent attraction across key sectors such as food and beverages, business services, software and IT services, textiles, consumer products and financial services.
India was the source country with the highest total estimated FDI capital into Dubai, accounting for 19.9%, followed by Switzerland (19.6%), United States (12%), United Kingdom (8.3%) and France (7.4%).
In terms of total announced FDI projects, the United Kingdom led the way with 15.4%, followed by India (13.7%), United States (12.7%), Italy (4.2%) and France (4.2%).
Based on FDI capital, the leading sectors were building and materials (17.3%), software and IT services (14.3%), hotels and tourism (10.2%), real estate (9.5%) and automotive original equipment manufacturers (6.1%), while the top sectors based on FDI projects were business services (19.4%), software and IT services (15.2%), food and beverages (14.1%), textiles (11.8%) and consumer products (8.1%).
- #Dubai secured a 6.2% global share of Greenfield FDI projects from January to June 2024
— Dubai Media Office (@DXBMediaOffice) October 3, 2024
- A total of 801 FDI projects valued at AED21.85 billion were announced in Dubai in the first half of the year pic.twitter.com/OVOZIauho6
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