In 2024, Dubai has made remarkable strides in the cultural and creative sectors, attracting a staggering 971 projects. This influx has translated into significant foreign direct investment (FDI) capital inflows, totaling AED 18.86 billion (approximately $5.1 billion). The impact of this growth is profound, resulting in the creation of 23,517 new jobs within the emirate. Such developments not only boost the local economy but also reinforce Dubai’s position on the global stage as a leader in the creative economy.
Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, the Chairperson of the Dubai Culture and Arts Authority, highlighted that this surge in investment aligns closely with the visionary leadership of Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai. She emphasized that the emirate’s rise as a premier global hub for the creative economy is a testament to this forward-thinking leadership.
Dubai’s Creative and Culture Investments
According to reports from the Financial Times’ ‘fDi Markets’ and its classification of the ‘Creative Industries Cluster’, Dubai ranks at the top for the number of foreign direct investment (FDI) projects initiated in the cultural and creative industries (CCI) in 2024. This marks the third consecutive year that Dubai has surpassed major global cities like London and Singapore, affirming its pioneering role in shaping a sustainable and innovation-driven creative economy.
The emirate’s exceptional performance can be attributed to several sub-sectors within the cultural and creative industries ecosystem. Flexible government policies have played a pivotal role in boosting FDI flows and enhancing Dubai’s appeal as a destination for investors and entrepreneurs.
A recent Executive Council Resolution No. (11) of 2025, issued by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, facilitates the operation of free zone establishments in Dubai. This resolution permits businesses to expand beyond their free zones, contingent on obtaining the necessary permits from the Dubai Department of Economy and Tourism (DET). Such initiatives align with the ambitious objectives of the Dubai Economic Agenda D33, aimed at fostering a dynamic business ecosystem that enhances local and international competitive advantages.
In addition to this resolution, Dubai has introduced the Zero Government Bureaucracy (ZGB) programme. This initiative aims to streamline government procedures, reduce unnecessary requirements, and enhance overall governmental efficiency—making the emirate a more attractive location for investors and innovators.
To further bolster its cultural landscape, the Dubai Culture and Arts Authority has also introduced the International Art Fairs Grant, providing financial support to local galleries participating in international art events. Such strategic financial mechanisms showcase Dubai’s commitment to fostering a vibrant cultural scene.
Sheikha Latifa eloquently stated that Dubai’s strategic initiatives and progressive policies are vital in deepening the emirate’s cultural and economic diversity. The city is evolving into a global hub for creativity, innovation, and business, while also emerging as a sought-after destination for living and working.
She emphasized, “Guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai has succeeded in building a dynamic cultural ecosystem. This environment not only inspires creativity but also attracts talent from around the world, fueling innovation at every stage.”
Sheikha Latifa further conveyed that Dubai’s ability to maintain its top ranking in attracting FDI in the cultural and creative industries signifies global investor confidence in the city’s long-term vision. She highlighted that FDI serves as a powerful catalyst for economic growth, opening doors to inclusive and sustainable development pathways.
Data from the Dubai FDI Monitor illustrates that Dubai attracted 971 projects in the cultural and creative industries in 2024. This marks an 8 percent increase from the 898 projects registered the previous year. The capital inflow of AED 18.86 billion signifies an impressive nearly 60 percent rise, while the creation of 23,517 jobs represents a 9 percent increase from 2023.
This surge in investment has predominantly stemmed from a variety of growing sub-sectors, including:
- Advertising and Public Relations
- Custom Computer Programming Services
- Education and Institutions in CCI Domains
- CCI Business Services
- Filmmaking, Media, and Gaming
- Software Design Specializing in Advanced Technologies
- Artificial Intelligence
- Machine Learning
- Digital Engineering
- Cloud Solutions
- Paint, Coating, and Adhesive Manufacturing
On a national level, the United States emerged as the leading source of FDI capital inflows in Dubai’s cultural and creative industries, contributing 23.2 percent. Other significant contributors include India (13.4 percent), the United Kingdom (9.4 percent), Switzerland (7.6 percent), and Saudi Arabia (4.8 percent). Interestingly, in terms of the number of projects initiated, India leads with 18.8 percent, followed closely by the UK (16.3 percent) and the US (14.2 percent).
These figures are indicative of Dubai’s targeted strategies and focus on key international markets. In terms of job creation through FDI in CCI projects, India again topped the list with 18.5 percent, highlighting its importance as an investment partner.
In 2024, greenfield wholly-owned FDI projects comprised 76.5 percent of the total FDI ventures recorded, while new forms of investments accounted for 15.4 percent. Reinvestment projects constituted 5.6 percent, and merger and acquisition transactions made up 2.4 percent.
Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, described Dubai’s global leadership in attracting greenfield FDI as a direct result of the vision outlined by Sheikh Mohammed bin Rashid Al Maktoum and the disciplined execution of the Dubai Economic Agenda D33. He emphasized the strategic importance of the creative economy as a growth enabler that enhances competitiveness and attracts top-tier talent.
In a similar vein, Hala Badri, Director-General of Dubai Culture, underscored that the emirate’s position as a leading global hub for FDI within the CCI is a testament to its adaptable investment climate and strong legal framework. These elements collectively create an inviting environment for creative entrepreneurs.
She reiterated that Dubai remains committed to cementing its status as a premier global destination for FDI, bolstered by innovative frameworks like the Dubai Economic Agenda D33 and the Dubai Creative Economy Strategy. These initiatives aim to elevate the creative sector’s contribution to Dubai’s GDP to 5 percent by 2026.
Dubai’s ongoing success in attracting global creative investments illustrates the effectiveness of its investment ecosystem, evolving regulatory frameworks, and commitment to innovation. As the cultural and creative sectors continue to thrive, the emirate is poised to remain a dynamic force in the global creative economy.
