Dubai Maintains Top Global Position For Greenfield FDI Projects In Cultural And Creative Industries For 2024

H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, highlighted Dubai's rise as a global creative economy hub. This growth reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. The emirate's top ranking for foreign direct investment (FDI) projects in cultural and creative industries (CCI) in 2024 underscores its role in fostering a sustainable, innovation-driven economy.

Dubai has maintained its position as the leading destination for Greenfield FDI projects in cultural and creative sectors among 233 cities for three consecutive years. This achievement surpasses major cities like London and Singapore. In 2024, Dubai attracted 971 projects with FDI capital inflows of AED18.86 billion, creating 23,517 new jobs. Flexible government policies have significantly contributed to this success.

Executive Council Resolution No. (11) of 2025, issued by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, allows free zone establishments to expand outside their zones with necessary permits from the Dubai Department of Economy and Tourism (DET). This aligns with the Dubai Economic Agenda D33, aiming to enhance competitive advantages and improve company efficiency locally and internationally.

The 'Zero Government Bureaucracy' programme aims to simplify procedures, eliminate unnecessary requirements, and enhance government performance across the UAE. This initiative positions Dubai as an attractive destination for investors and innovators. Additionally, the International Art Fairs Grant by Dubai Culture offers financial support to galleries participating in art fairs abroad.

Sheikha Latifa emphasised that forward-looking strategies have transformed Dubai into a global hub for business, creativity, and innovation. "Guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai has succeeded in building a dynamic cultural ecosystem; one that inspires creativity, welcomes talent from across the world, and fuels innovation at every level," she stated.

Dubai's ability to maintain its top ranking in attracting FDI signals investor confidence in its long-term vision. "FDI is not only a catalyst for economic growth but also a gateway to inclusive, long-term development," Sheikha Latifa noted. Supported by world-class infrastructure and strong economic fundamentals, Dubai continues to be one of the fastest-growing cities for investment and talent.

Global Investment Trends

The United States led FDI capital inflows into Dubai’s cultural industries in 2024 with 23.2%, followed by India at 13.4%. India also topped the list for FDI projects with 18.8%. These results reflect targeted strategies focusing on key markets as partners. India led job creation through FDI projects with 18.5%, followed by the United States at 14.6%.

According to data from the Dubai FDI Monitor based on the Dubai Framework for Cultural Statistics, greenfield wholly-owned FDI projects accounted for 76.5% of total registered sector projects in 2024. New forms of investment made up 15.4%, reinvestment projects were at 5.6%, while merger & acquisition projects stood at 2.4%.

Sector Growth Drivers

The growth was driven by sub-sectors such as advertising, PR; custom computer programming services; education; filmmaking; media; gaming; software design specialising in advanced technologies like AI; digital engineering; cloud solutions; paint manufacturing; coating; adhesive manufacturing.

Helal Saeed Almarri from DET stated that "Dubai’s global leadership in attracting greenfield FDI — including in the cultural and creative industries — is a direct outcome of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum." He added that regulatory clarity and robust IP protection are enabling this sector's integration with high-impact industries like media and tourism.

Cultural Ecosystem Development

Hala Badri from Dubai Culture emphasised that Dubai’s top ranking reflects its flexible investment environment encouraging creativity globally. "Dubai continues to cement its leadership as one of the most prominent global hubs for FDI in CCI," she said.

The 'Creative Dubai: Navigating Tomorrow’s Creative Landscape' report launched by Dubai Culture provides data-driven analysis on creative economy performance and diverse investment opportunities within it.

Dubai's success highlights its commitment to fostering innovation through evolving regulatory frameworks while maintaining an attractive investment ecosystem globally recognised within creative sectors worldwide today more than ever before!

With inputs from WAM