Dubai continues to solidify its reputation as the premier global hotspot for foreign direct investment (FDI) in the cultural and creative industries. According to the Financial Times’ fDi Markets rankings for 2024, Dubai has secured the top position for the third consecutive year, outperforming iconic global cities such as London, Singapore, and New York.
In 2024 alone, the emirate attracted 971 creative industry projects, marking an impressive 8% growth from the previous year. This surge translated into an influx of AED 18.86 billion ($5.1 billion) in capital—a nearly 60% year-over-year increase.
These investments not only boost Dubai’s economic growth but also generated 23,517 new jobs, highlighting the city’s rapidly expanding role as a hub for creative enterprises.
Key sectors fueling this remarkable growth include:
- Advertising and Public Relations
- Film Production
- Gaming
- Education
- AI-driven Software Design
According to the Dubai FDI Monitor, a significant 76.5% of these ventures were greenfield, wholly-owned enterprises, clearly demonstrating investors’ confidence and long-term commitment to the region.
The United States led the pack, contributing 23.2% of the capital inflows. It was closely followed by robust participation from India, the UK, Switzerland, and Saudi Arabia. Notably, India excelled both in terms of the volume of projects and job creation.
Dubai’s pro-business reforms, including facilitating onshore operations for free zone companies and streamlining bureaucratic procedures, have made it easier and more attractive for global investors. The emirate’s strong intellectual property protections, state-of-the-art infrastructure, and vibrant ecosystem are unmatched, reinforcing Dubai’s appeal to innovators and creators worldwide.
As detailed in the “Creative Dubai” report, the city’s strategic investments in design, immersive technology, and artificial intelligence are shaping it into a leading global hub for creative innovation, poised to drive continued growth well beyond 2025.
Source: https://www.arabianbusiness.com/abnews/dubai-ranked-number-1-globally-for-creative-industry-fdi
