Dubai has earned the title of the world’s top destination for Greenfield Foreign Direct Investment (FDI) projects for the fourth consecutive year. In 2024, the emirate attracted an estimated AED52.3 billion ($14.24 billion) in FDI capital, reflecting a significant 33.2% increase from AED39.26 billion ($10.69 billion) in 2023. This marks the highest FDI value recorded in a single year for Dubai since 2020.

According to MSN, the city also reached a historic milestone by attracting 1 117 Greenfield FDI projects in 2024, the most in its history. Additionally, Dubai announced a total of 1 826 FDI projects, which represents an 11% increase from 1 650 projects in 2023, according to the Dubai FDI Monitor. This achievement generated approximately 58 680 jobs through FDI, up 31% from 44 745 jobs in the previous year.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, emphasized that Dubai’s rise in the global investment landscape is driven by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. He remarked that the emirate’s ability to maintain its status as a leading global destination for foreign direct investment showcases its commitment to providing exceptional value to investors.

The Crown Prince stated, “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.” He noted that this ranking is indicative of the emirate’s strategic vision, which aligns with the Dubai Economic Agenda D33, aiming to double the size of the economy by 2033 and to position Dubai among the world’s top three urban economies.

Further highlighting Dubai’s investment appeal, the city was ranked fourth globally for attracting Greenfield FDI capital in 2024, improving from fifth in 2023, while also securing the top position in the Middle East and Africa (MEA) region. The emirate advanced to third globally in terms of jobs created through inward FDI, maintaining its lead in the MEA region. This progress underscores Dubai’s dynamic business environment, effective economic policies, and ability to attract skilled professionals.

For the third consecutive year, Dubai was also recognized as the No.1 global destination for Headquarter (HQ) FDI projects, recording 50 projects in 2024. The recent FDI performance is attributed to transformative projects within the Dubai Economic Agenda D33, which aims to solidify Dubai’s status as a premier global city for business and leisure.

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), remarked on the emirate’s success, attributing it to the strategic foresight of leadership and the city’s robust economic strength. He highlighted the role of public-private partnerships in fostering a resilient investment ecosystem and emphasized Dubai’s commitment to innovation and economic competitiveness.

The fDi Markets data further reveals that Dubai ranks No.1 globally for Greenfield FDI projects in sectors such as consumer goods, industrial, transportation/warehousing, food and beverages, and tourism. Additionally, the city secured the top spot in attracting Greenfield projects in financial services, real estate, and artificial intelligence (AI).

Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), noted that Dubai’s record number of Greenfield FDI projects reflects both global investor optimism and the emirate’s long-term vision for economic diversification. He stated, “This achievement reflects not only the optimism of global investors but also the strength of our foundations and long-term vision.”

In 2024, the top five source countries for FDI capital into Dubai accounted for 63% of total estimated flows. India emerged as the leading source country, contributing 21.5%, followed by the United States (13.7%), France (11%), the United Kingdom (10%), and Switzerland (6.9%). The leading sectors for FDI capital included hotels and tourism (14%), real estate (14%), and software and IT services (9.2%).

As Dubai looks to the future, its FDI outlook remains positive, bolstered by a favorable regulatory environment and strong investor interest in high-tech sectors, despite global uncertainties. The emirate is expected to continue attracting significant investment, reinforcing its status as a global hub for trade, technology, and innovation-led growth.