Dubai has been ranked the world’s No.1 destination for greenfield foreign direct investment (FDI) projects for the fourth successive year, according to the Financial Times Ltd.’s ‘fDi Markets’ data.
In 2024, Dubai attracted AED52.3 billion ($14.24 billion) in estimated FDI capital, a 33.2 percent increase from AED39.26 billion ($10.69 billion) in 2023, marking the highest FDI value ever recorded in a single year for the emirate since 2020.
Record-breaking feat
Dubai attracted a record-breaking 1,117 greenfield FDI projects in 2024, the highest in its history. Dubai also achieved a historic milestone in FDI attraction with 1,826 announced FDI projects, an 11 percent increase from 1,650 projects in 2023, according to DET’s Dubai FDI Monitor. This marks the highest number of total announced FDI projects ever recorded by the emirate. A total of 58,680 estimated jobs were generated through FDI in 2024, a 31 percent increase from 44,745 jobs in 2023.
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“Dubai’s ability to steadily consolidate its status as a leading global destination for foreign direct investment reflects its commitment to delivering exceptional value to investors worldwide. The city’s ranking as the world’s No. 1 destination for attracting greenfield FDI for the fourth consecutive year is a testament to its ability not only to set new global benchmarks for sustained, rapid growth but also to continuously evolve its investment proposition in response to changes sweeping the international market,” said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.
Dubai’s forward-looking strategies have transformed the emirate into a global hub for FDI, with the city’s attractive business environment, favourable regulations, infrastructure, and strategic location making it a preferred destination for investors. In 2024, the city was ranked fourth globally for attracting Greenfield FDI capital, up from fifth position in 2023, while also claiming the top spot in the Middle East and Africa (MEA) region, marking a significant leap in its investment appeal, according to the Financial Times Ltd’s ‘fDi Markets’ data.
Types of investments
In terms of investment types for FDI projects into Dubai, new forms of investments (NFIs) saw an impressive 23 percent increase, reflecting investors’ growing confidence in innovative approaches to capital allocation, while reinvestments surged by 98 percent, highlighting sustained investor confidence and business expansion within the emirate. Venture capital-backed FDI increased by 39 percent, reinforcing Dubai’s position as a thriving hub for startups and high growth ventures, and mergers and acquisitions (M&As) rose by 8 percent, demonstrating strong corporate interest in strategic partnerships and market consolidation.
Top sources
Dubai FDI Monitor revealed that the top five source countries for FDI capital accounted for 63 percent of the total estimated flows into Dubai in 2024. India was the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5 percent, followed by the United States (13.7 percent), France (11 percent), United Kingdom (10 percent), and Switzerland (6.9 percent). In terms of total announced FDI projects into Dubai, the top five source countries accounted for almost 55 percent with the United Kingdom (17 percent), followed by India (15 percent), the United States (14 percent), France (4.5 percent), and Italy (4 percent).
Key sectors
In 2024, the top five sectors accounted for 53 percent of the total estimated FDI capital flows into Dubai, and the top five sectors by FDI projects accounted for 68 percent of the total announced FDI projects. Based on FDI capital, the leading sectors were hotels and tourism (14 percent), real estate (14 percent), software and IT services (9.2 percent), building materials (9 percent), and financial services (6.8 percent). For FDI projects, the top sectors were business services (19.2 percent), food and beverages (16.5 percent), software and IT services (14.3 percent), textiles (9.6 percent), and consumer products (8.3 percent).
His Excellency Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said: “The influx of new capital underscores the confidence that investors, multinational corporations, and global talent place in our resilient ecosystem, bolstered by the collaborative spirit of public-private partnerships and the transformative goals of the Dubai Economic Agenda, D33. Looking ahead, Dubai remains committed to setting new benchmarks in global competitiveness through forward-thinking regulations, cost-effective energy solutions, and strategic global partnerships, as we continue building an ecosystem that empowers businesses to thrive. Our focus on innovation, startup 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. Together, we are shaping a city that stands as the world’s best place to visit, live, work and invest in.”
