Dubai Retains Global Top Spot for Attracting Greenfield FDI Projects in Cultural and Creative Industries in 2024

In a remarkable achievement for the UAE, Dubai has maintained its position as the world’s leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI). For the third consecutive year, it topped the Financial Times’ fDi Markets ranking, reinforcing its status as a global hub for creativity and innovation.

An Impressive Year for Cultural and Creative Industries

The 2024 report, which assessed 233 cities classified under the "Creative Industries Cluster," highlighted Dubai’s impressive performance against renowned global centers like London and Singapore. During this year, the emirate attracted 971 projects in the CCI sector, marking an 8% increase from the previous year. This influx brought in a staggering AED 18.86 billion in capital inflows, nearly 60% higher than in 2023, and created 23,517 new jobs, reflecting a 9% year-on-year rise.

Diverse Sector Growth

All major subsectors within the CCI saw significant growth, with advertising and public relations, film and media production, gaming, education, and advanced software design leading the way. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures represented 76.5% of all projects, while new investment formats accounted for 15.4%. Reinvestment and mergers & acquisitions made up 5.6% and 2.4%, respectively, indicating a robust environment for both new and returning investors.

Source of Capital Inflows

In terms of capital inflows, the United States emerged as the largest contributor, accounting for 23.2%. Following the U.S. were India (13.4%), the United Kingdom (9.4%), Switzerland (7.6%), and Saudi Arabia (4.8%). Notably, India also topped the charts in the number of projects and job creation, contributing 18.8% and 18.5%, respectively. Countries like the UK, US, Germany, Italy, and France were pivotal players in various metrics, showcasing a diverse investment landscape.

Favorable Business Climate

The sustained investor confidence in Dubai is largely attributed to its pro-business reforms. Noteworthy among these is the Executive Council Resolution 11 of 2025, which allows free zone businesses to operate onshore, enhancing commercial flexibility. Furthermore, the Zero Government Bureaucracy programme aims to cut down on red tape, streamlining over 2,000 federal procedures and making doing business in Dubai even easier.

Regulatory Framework and Infrastructure

Coupled with strong intellectual property protections, Dubai’s advanced digital infrastructure supports a regulatory framework characterized by efficiency, transparency, and ease of business operations. These policies create an environment that encourages not just local but also international investments, making the emirate an attractive spot for creative enterprises.

Investment Opportunities

The ‘Creative Dubai: Navigating Tomorrow’s Creative Landscape’ report sheds light on investment hotspots within the city, emphasizing areas like design, immersive media, and AI-driven production. Dubai continues to magnetize investors by offering access to top-tier talent and competitive setup costs alongside strategic connectivity. The results from the 2024 FDI report illustrate Dubai’s upward trajectory as a global innovation hub.

Conclusion

Dubai’s continued success in attracting greenfield FDI projects in the cultural and creative industries is a clear indication of its growing stature on the global stage. With a thriving ecosystem bolstered by supportive governance and innovation, it’s no surprise that the emirate is setting the bar high for other regions aiming to cultivate their creative landscapes.