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 AED 52.3 billion ($14.24 billion) in estimated FDI capital, a 33.2 percent increase from AED 39.26 billion ($10.69 billion) in 2023, marking the highest FDI value ever recorded in a single year for the emirate since 2020.
FDI Projects
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.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai, said Dubai’s emergence as a frontrunner in the global investment landscape has been inspired and guided by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of Dubai Executive Council
“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. This success is the result of a strategic vision that keeps pace with economic and technological transformations, aligned with the ambitious objectives of the Dubai Economic Agenda D33 to double the size of the emirate’s economy by 2033 and establish it as one of the world’s top three urban economies.”
H.H. Sheikh Hamdan bin Mohammed, further added that, “This latest FDI rankings across key areas mark yet another key milestone in Dubai’s development journey. 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. We remain committed to fostering a culture of innovation, enhancing economic competitiveness, and building an exceptional ecosystem that empowers businesses and investors to achieve growth and prosperity. Driven by our bold aspirations, we are resolute in strengthening Dubai’s position as the city of the future and a global hub for the brightest minds and most pioneering enterprises.”
A global city of transformational projects
Highlighting Dubai’s robust economic environment and sustainable growth, the 2024 FDI performance is the result of transformational projects and strategies launched within the Dubai Economic Agenda D33, which aims to further consolidate Dubai’s position as a leading global city for business and leisure.
With a 6.2 percent global market share and a 55 percent share of the Middle East’s total Greenfield FDI projects, Dubai continues to set the benchmark for investment excellence and economic dynamism.
The fDi Markets data shows that Dubai ranked No.1 globally across Greenfield FDI projects, capital, and jobs created through FDI attraction in clusters such as consumer goods, industrial, and transportation/warehousing; the sectors of food and beverages and tourism FDI, and other categories of cybersecurity and eCommerce.
By attracting high-value FDI and creating jobs across multiple industries, Dubai has solidified its status as a premier hub for business expansion, further establishing itself as a global center for trade, technology, and innovation-led growth.
The city was also ranked No.1 in attracting Greenfield projects in sectors and functions including financial services, headquarters, real estate, and artificial intelligence (AI). Dubai’s share of global FDI projects in Advanced Information Technologies (AIT) increased from 7.3 percent in 2023 to 8 percent in 2024, reinforcing its position as the world’s top destination for AIT-related FDI projects.
Dubai’s FDI 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), the United Kingdom (10 percent), and Switzerland (6.9 percent). In terms of total announced FDI projects in 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).
Top 5 sectors by FDI projects
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).
