The relentless flight of Indian entrepreneurs, consultants, and businesses to Dubai over the last decade due to a favourable tax regime and business friendly environment is now showing it’s impact on the ground.
As per recent findings India has emerged as the key source country for Foreign Direct Investment (FDI) into Dubai as the desert city has retailed it’s top position as Global FDI Destination in 2024.
According to the Financial Times Ltd.’s ‘fDi Markets’ data Dubai has been ranked the world’s No.1 destination for Greenfield Foreign Direct investment (FDI) projects for the fourth successive year.
For the year 2024, India has surpassed USA, France and UK to become the top source countries for FDI into Dubai.
India’s contribution to FDI inflow accounted for 21.5%, followed by the United States (13.7%), France (11%), United Kingdom (10%), and Switzerland (6.9%) according to Dubai Department of Economy and Tourism’s Dubai FDI Monitor.
As per the Monitor Dubai in 2024, attracted AED52.3 billion ($14.24 billion) in estimated FDI capital, up 33.2% from AED39.26 billion ($10.69 billion) in 2023, marking the highest FDI value ever recorded in a single year for the Emirate since 2020.
During the year Dubai attracted 1,117 Greenfield FDI projects the highest in its history. Dubai also achieved a historic milestone in FDI attraction with 1,826 announced FDI projects, an 11% increase from 1,650 projects in 2023, as per the Monitor.
A total of 58,680 estimated jobs were generated through FDI in 2024, a 31% increase from 44,745 jobs in 2023.
Dubai’s forward-looking strategies have transformed the emirate into a global hub for FDI, with the city’s attractive business environment, favourable regulations, infrastructure, and strategic location making it a preferred destination for investors.
In 2024, the city was ranked fourth globally for attracting Greenfield FDI capital, up from fifth position in 2023, while also claiming the top spot in the Middle East and Africa (MEA) region, marking a significant leap in its investment appeal, according to the Financial Times Ltd’s ‘fDi Markets’ data.
Dubai was seen experiencing a surge in talent attraction across key sectors such as business services, software IT services, real estate, transportation/warehousing, financial services, industrial equipment, consumer products, and communications.
“This highlights the city’s dynamic business environment, strategic economic policies, and ability to draw skilled professionals, reinforcing its position as a top destination for investment and innovation,” the Government of Dubai said in a statement.
“For the third consecutive year, Dubai was also ranked No.1 globally in the attraction of Headquarter (HQ) FDI projects, with 50 projects in 2024. Regionally, Dubai was No.1 in Greenfield FDI projects, capital, and jobs in MEA,” it added.
With a 6.2% global market share and a 55% share of the Middle East’s total Greenfield FDI projects, Dubai continues to set the benchmark for investment excellence and economic dynamism, it said.
Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), in a statement said, “Our ability to consistently attract capital amid shifting global dynamics is a testament to the visionary leadership and strategic foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, as well as the city’s economic strength and our commitment to fostering a future-ready investment ecosystem.”
“The influx of new capital also underscores the confidence that investors, multinational corporations, and global talent place in our resilient ecosystem, bolstered by the collaborative spirit of public-private partnerships and the transformative goals of the Dubai Economic Agenda, D33,” he said.
“Looking ahead, Dubai remains committed to setting new benchmarks in global competitiveness through forward-thinking regulations, cost-effective energy solutions, and strategic global partnerships, as we continue building an ecosystem that empowers businesses to thrive,” he added.
“Our focus on innovation, startup incubation, and digital-first infrastructure ensures that Dubai will continue to be the destination of choice for those seeking growth, opportunity, and success in the global economy,” he further said.
The city attracted Greenfield projects in sectors and functions including financial services, headquarters, real estate, and artificial intelligence (AI).
“Dubai’s share of global FDI projects in Advanced Information Technologies (AIT) increased from 7.3% in 2023 to 8% in 2024, reinforcing its position as the world’s top destination for AIT-related FDI projects,” the Government of Dubai statement said.
Published – March 11, 2025 10:44 pm IST
