Dubai’s creative economy soars: #1 global ranking in FDI projects

Dubai’s creative economy soars: #1 global ranking in FDI projects

Results of Foreign Direct Investment in Dubai’s Cultural and Creative Industries for the Year 2022 Dubai, United Arab Emirates: Dubai Culture : Dubai has firmly established itself as the global leader in attracting Foreign Direct Investment projects within the cultural and creative industries. The emirate's just-announced accomplishment of 451 new projects in 2022 has propelled its position as the world's capital of the creative economy and created 12,368 new jobs. Regarding FDI capital inflows, Dubai's cultural and creative industries substantially increased, reaching AED 7.357 billion in 2022. This surge in the capital inflow has further solidified Dubai's reputation as the frontrunner in the MENA region and placed it 12th globally, a remarkable improvement from the 14th position in 2021. The Dubai FDI Monitor report, which draws data from the 'fDi Markets' by the Financial Times, underpins Dubai's top-ranking status. The report reveals that Dubai led globally in attracting FDI projects in the cultural and creative industries, maintaining its 6th spot worldwide in job creation through FDI. Greenfield FDI projects, wholly-owned ventures, constituted a significant majority, accounting for 76% of the total FDI projects in Dubai's cultural and creative sectors. Dubai's unprecedented success in attracting FDI projects can be attributed to