Dubai: H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, affirmed that Dubai's continued rise as a leading global hub for the creative economy reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
According to Emirates News Agency, Dubai's top global ranking for the number of foreign direct investment (FDI) projects in the cultural and creative industries in 2024, as reported by the Financial Times' 'fDi Markets', reaffirms the emirate's role in shaping a sustainable, innovation-driven creative economy. Dubai retained its position as the top global destination for attracting Greenfield FDI projects in cultural and creative industries among 233 cities for the third consecutive year, surpassing cities like London and Singapore. In 2024, Dubai attracted 971 projects in the sector, with total FDI capital inflows reaching AED18.86 billion, creating 23,517 new jobs.
Flexible government policies have played a crucial role in boosting FDI flows into the cultural and creative industries. Executive Council Resolution No. (11) of 2025, issued by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, aims to regulate the operation of free zone establishments within Dubai, allowing them to expand their business outside the free zone with the necessary permits. This aligns with the goals of the Dubai Economic Agenda D33, focusing on building a dynamic business ecosystem to enhance competitive advantages and improve the efficiency of companies.
The 'Zero Government Bureaucracy' programme is another initiative simplifying and reducing government procedures, enhancing efficiency and flexibility, thereby positioning Dubai as an attractive destination for investors and innovators. Additionally, the recent introduction of the International Art Fairs Grant by the Dubai Culture and Arts Authority offered financial support to Dubai-based galleries participating in art fairs abroad.
Sheikha Latifa highlighted that Dubai's strategies and policies have deepened its cultural and economic diversity, making it a global hub for business, creativity, and innovation. Under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai has built a cultural ecosystem that inspires creativity and fuels innovation, empowering creatives, investors, and entrepreneurs.
According to data from the Dubai FDI Monitor, released by the Dubai Department of Economy and Tourism, the emirate attracted 971 projects in the cultural and creative industries sector in 2024, an 8% increase from the previous year. The projects generated a capital inflow of AED18.86 billion, a nearly 60% rise, and created 23,517 new jobs in 2024. Growth was driven by expansion in sub-sectors such as advertising, custom computer programming, education, media, gaming, software design, and manufacturing.
The United States topped the list of countries for FDI capital inflows into Dubai's cultural and creative industries in 2024 with 23.2%, followed by India, the United Kingdom, Switzerland, and Saudi Arabia. India led in job creation through FDI in CCI projects, reflecting Dubai's targeted strategies focusing on these markets as key partners.
Data from the Dubai FDI Monitor showed that greenfield wholly-owned FDI projects accounted for 76.5% of total FDI projects in registered sectors in 2024, with new forms of investment, reinvestment projects, and merger and acquisition projects making up the remainder.
Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, stated that Dubai's leadership in attracting greenfield FDI is a result of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the Dubai Economic Agenda D33. The creative economy has emerged as a strategic growth enabler, enhancing competitiveness, stimulating innovation, and reinforcing Dubai's role as a magnet for talent and investment.
Hala Badri, Director-General of Dubai Culture, emphasized that Dubai's top FDI ranking reflects its flexible investment environment, strong legal framework, and ability to diversify its economy. Strategies like the Dubai Economic Agenda D33 and the Dubai Creative Economy Strategy are expanding opportunities for investors and creatives in the cultural and creative industries.
Dubai's success in attracting global creative investments underscores its investment ecosystem's significance, the evolution of regulatory frameworks, and dedication to fostering innovation. As the sector continues to grow, the emirate remains a magnet for global capital and a vibrant cultural scene, reinforcing its position as a global hub for the creative economy.
