Surpassing London, Singapore, Paris, and Berlin, Dubai leads globally in the number of new projects started through foreign direct investment (FDI) in 2022.
According to the Dubai FDI Monitor report, the emirate has attracted a record-breaking 451 projects in the cultural and creative industries, accounting for an increase of 107.7%.
The US, India, the UK, France, and Switzerland were leading investors in the emirate’s cultural and creative industries. The data showed that FDI capital flows to Dubai’s cultural and creative industries increased to $2 billion in 2022, ranking it first in the MENA region and 12th globally.
Foreign capital flows generated an estimated 12368 jobs, positioning the city first in the region and sixth globally in job creation.
Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and member of the Dubai Council, said that the rankings signify the emirate’s distinct approach and reflect the strength and maturity of its infrastructure and its legal, legislative, creative and digital environment.
“The emirate attracts innovators and talented individuals worldwide, providing them with an enabling environment where innovative projects can flourish, ground-breaking ideas can be nurtured, and ambitious concepts can be transformed into thriving economic ventures. Dubai achieves this by leveraging its unique cultural diversity and renowned status as a premier destination for living, working, and investing.”
Sheikha Latifa added that Dubai is committed to establishing a sustainable development landscape and positioning itself as the global capital of the creative economy by 2026.
The growth aligns with the Dubai Economic Agenda D33, said Helal Saeed Almarri, Director General of the emirate’s Department of Economy and Tourism. “[It] highlights the emirate’s commitment to build on and leverage its supportive environment, world-class infrastructure, and a legislative system that stimulates the creative economy, attracting a new generation of global talents, investors, and entrepreneurs.”
Loading the player...
Dubai Tourism CEO Issam Kazim on the future of travel | Trailer