Dubai has reaffirmed its global leadership in the cultural and creative industries by ranking first worldwide for greenfield foreign direct investment (FDI) projects in the sector for the third consecutive year. According to the 2024 fDi Markets report, the emirate attracted 971 projects last year—an 8% increase from 2023—securing AED 18.86 billion in capital inflows and generating 23,517 new jobs.
This continued dominance in the creative economy highlights Dubai’s effective policy environment and future-ready infrastructure. Dubai Culture attributed the achievement to robust legal frameworks, strategic initiatives such as the Dubai Economic Agenda D33 and the Creative Economy Strategy, and the emirate’s consistent efforts to foster a vibrant and inclusive business ecosystem for global creatives and investors.
Leadership Vision Drives Global Creative Hub Ambitions
Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, described the achievement as a testament to Dubai’s growing global competitiveness and enduring appeal.
“Dubai has ranked as the top city worldwide in foreign direct investment projects in the cultural and creative industries for 2024, maintaining its lead for the third consecutive year. Out of 233 cities ranked, Dubai outperformed major global hubs,” Sheikha Latifa said.
She underscored the pivotal role of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in shaping the city’s vision as a world-class creative capital. His leadership, she noted, has transformed Dubai into a magnet for talent, innovation, and bold ideas.
“We take pride in every individual who chooses Dubai to realise their boldest dreams,” she added. “FDI plays a vital role in driving comprehensive and sustainable development, affirming Dubai’s leading role on the global cultural map.”
The city’s evolution into a creative powerhouse is underpinned by a supportive regulatory environment, investment in digital and cultural infrastructure, and a dynamic artistic ecosystem that fuels innovation and economic diversification.
Creative Industries Make a Bold Economic Statement
According to the Creative Dubai 2024 Impact Report, the creative sector contributed AED 21.9 billion to Dubai’s economy in 2022, representing 4.6% of the emirate’s GDP. The sector employs over 175,000 individuals and continues to play a critical role in shaping both cultural expression and economic resilience.
Globally, the cultural and creative industries account for 3.1% of the world’s economy, with revenues estimated at $2.3 trillion. Leading nations such as China, the USA, Italy, Hong Kong, and Germany dominate creative exports. In the MENA region, the UAE has emerged as the frontrunner, with creative goods and services exports valued at $13.7 billion—surpassing peers such as Egypt, Lebanon, Saudi Arabia, and Tunisia.
These figures reinforce Dubai’s position not only as a regional leader but as a pivotal contributor to the global creative economy.
Dubai Dominates Greenfield FDI Across All Sectors
Dubai’s prowess extends beyond the creative industries. In 2024, the city was named the world’s top destination for greenfield FDI projects across all sectors for the fourth consecutive year, based on fDi Markets data from the Financial Times Ltd.
Dubai attracted AED 52.3 billion ($14.24 billion) in estimated FDI capital—a record 33.2% increase from AED 39.26 billion ($10.69 billion) in 2023. The city launched 1,117 greenfield FDI projects in 2024, the highest number in its history. In total, 1,826 FDI projects were announced, up 11% from 2023, marking another historic milestone.
This investment surge translated into 58,680 new jobs, a 31% rise year-on-year, reaffirming Dubai’s role as a global magnet for capital, talent, and innovation.
A Sustainable Vision for Global Creative Leadership
Dubai’s commitment to nurturing its cultural and creative sectors aligns with broader national goals to diversify the economy, empower creative entrepreneurs, and build sustainable global partnerships. Through initiatives like the Dubai Creative Economy Strategy, the emirate is positioning itself as a future-forward city that seamlessly blends culture, commerce, and innovation.
By cementing its leadership in creative FDI, Dubai is not only elevating its international stature but also creating a blueprint for cities worldwide aspiring to unlock the economic potential of creativity.
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