Dubai Tops World Cities in Securing Investments for the Creative Sector in 2024
Dubai knocked it out of the park once more, nabbing the top spot globally for attracting foreign direct investment (FDI) in the cultural and creative industries (CCI) for the third year in a row, as reported by the Financial Times' fDi Markets report!
This smashing victory comes as Dubai managed to outshine 233 other cities, including heavyweights like London and Singapore, celebrating its status as the global vanguard for creativity and innovation.
Last year, Dubai secured a whopping 971 CCI-focused Greenfield FDI projects, marking an impressive 8% increase from the year before. This spectacular surge resulted in mind-boggling capital inflows of AED18.86 billion and the creation of over 23,500 new jobs. The city's prosperity can be attributed to growth in a multitude of sub-sectors, such as digital media, software design, AI, advertising, and education.
Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, attributed this remarkable achievement to the forward-thinking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. She underlined Dubai's evolving creative ecosystem as a powerful engine driving long-term economic and cultural development.
Key policy transformations also played a pivotal role. Measures such as Executive Council Resolution No. (11) of 2025, allowing free zone businesses to extend their operations citywide, and initiatives like the Zero Government Bureaucracy program, have streamlined regulations and bolstered investor confidence.
Interestingly, according to the Dubai FDI Monitor, the United States took the lead in capital inflows, with India nabbing the top spots for both project count and job creation. Greenfield investments accounted for over 76% of the total FDI activity in the CCI sector.
Officials accentuated that Dubai's regulatory clarity, innovation-centric strategies like the Dubai Economic Agenda D33, and strong intellectual property protections continue to entice global talent and investment. With ambitions to make the creative sector contribute 5% to GDP by 2026, Dubai is on a fast track to becoming one of the world's top three urban economies.
Want to know what sets Dubai apart? The enrichment data reveals several factors fueling Dubai's success:
- Pro-Business Reforms: Efforts such as enabling free zone companies to operate onshore simplify business operations and reduce bureaucratic hurdles. Streamlining regulations facilitates setting up and running businesses, making Dubai irresistible to investors.
- Robust Intellectual Property Laws: Dubai offers robust intellectual property protection, which is essential for creative industries that rely heavily on innovation and original ideas.
- Cutting-Edge Infrastructure: Dubai invests heavily in developing world-class infrastructure, including state-of-the-art facilities and technology, supporting the growth of creative industries.
- Strategic Location and Global Connectivity: Dubai's strategic location between East and West provides easy access to global markets, making it a prime hub for international businesses.
- Diverse and Growing Economy: Dubai's economy is diverse, with a strong emphasis on fostering a friendly environment for creative industries like advertising, film production, gaming, education, and AI-led software design.
- Investment in Creative Sectors: Significant investments in sectors such as design, immersive tech, and AI innovation cement Dubai's status as a worldwide creative hub.
These factors combined have allowed Dubai to maintain its dominance as the leading destination for greenfield FDI projects in the cultural and creative industries, surpassing other significant cities like London and Singapore. Game on, Dubai!
- The pro-business reforms, such as enabling free zone companies to operate onshore, have streamlined regulations in Dubai, making it highly attractive for investors seeking to invest in the cultural and creative industries.
- The robust intellectual property laws in Dubai offer essential protection for creative industries that heavily rely on innovation and original ideas, further enticing global talent and investment.
- Dubai's cutting-edge infrastructure, including world-class facilities and technology, supports the growth of the creative industries, contributing to its status as a global hub for business and innovation.
- The diverse and growing economy of Dubai, with a strong focus on fostering a friendly environment for creative industries, has positioned the city as a worldwide leader in sectors such as advertising, film production, gaming, education, and AI-led software design.
- Significant investments in sectors like design, immersive tech, and AI innovation, along with Dubai's strategic location between East and West and its global connectivity, have allowed the city to maintain its dominance as the leading destination for greenfield FDI projects in the cultural and creative industries, outshining other significant cities like London and Singapore.
