Dubai’s creative economy ranks top in FDI draw in 2021

Dubai’s creative economy ranks top in FDI draw in 2021

According to the Dubai FDI Monitor report, published by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET), Dubai attracted 233 new projects in the creative economy in 2021. Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in the previous year. The report was based on data from the Financial Times' 'fDi Markets', the world’s leading data source on greenfield FDI projects.

"These results reflect the maturity and stability of the investment environment in the emirate’s creative economy. Dubai has created outstanding FDI opportunities in the sector by building a robust ecosystem and an advanced business-enabling infrastructure for creative entrepreneurs.

"By fostering an environment that promotes learning, development, and innovation, Dubai has developed a vibrant global creative community. Its unique social fabric that has evolved out of the emirate’s remarkable cultural diversity and its comprehensive human-centred development process has further supported the growth of Dubai’s creative economy," Sheikha Latifa added.

Data from Dubai FDI Monitor indicates significant growth in foreign investment in the cultural and creative industries. The sector’s estimated value of FDI capital flows exceeded AED4.9 billion in 2021. The rise in FDI inflow and