Dubai has retained its spot as the world’s top destination for attracting greenfield foreign direct investment (FDI) projects in 2022 for the second time.

The emirate received an inflow of $12.8 billion and almost 38,500 new jobs, enabling Dubai to retain its ranking. 

Establishing its position as a worldwide FDI hub, Dubai has achieved an 89.5% year-on-year growth in FDI projects announced last year, according to Dubai Media Office, which cited data from the 2022 Financial Times FDI Markets report on Sunday.  

The total FDI capital increased by 80.3% over the same period, establishing the emirate’s status as among the top-three global city economies, a key goal of the Dubai Economic Agenda D33 launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. 

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: The emirate offers the deep stability, sustainability, infrastructure, and opportunity-rich environment needed to ensure the long-term trust of international investors, businesses, and entrepreneurs. Over the years, Dubai has forged dynamic partnerships with global investors to accelerate innovation and create enduring economic value.”

“Dubai leads the world in attracting FDI in a wide range of industries, especially future-oriented sectors, a fact that is a testament to the strategic vision articulated in the Dubai Economic Agenda D33, which aims to consolidate Dubai’s position as one of the world’s top urban economies.”

Dubai leads in attracting FDI projects into tourism, business services, financial services, transport and warehousing, consumer products, and software and IT service sectors, accounting for 76% of the total estimated flows into the emirate and 68% of announced FDI projects. 

The city is also the world leader in attracting FDI projects in the creative industries, research and development projects, and attracting FDI project headquarters by hosting international companies’ global and regional headquarters.