India Becomes the Top Source of FDI into Dubai

India has emerged as the leading source of Foreign Direct Investment (FDI) into Dubai, surpassing the United States, France, and the United Kingdom in 2024. Dubai retained its position as the world’s top destination for Greenfield FDI projects for the fourth consecutive year, as per Financial Times Ltd.’s ‘fDi Markets’ data. The city’s business-friendly environment, tax policies, and infrastructure have attracted a surge in investments and talent, making it a global hub for foreign investments.

Key Highlights

India’s FDI Dominance

• India accounted for 21.5% of total FDI into Dubai in 2024, surpassing the U.S. (13.7%), France (11%), the U.K. (10%), and Switzerland (6.9%).

Dubai’s FDI Growth in 2024

• Dubai attracted AED 52.3 billion ($14.24 billion) in FDI, marking a 33.2% increase from AED 39.26 billion ($10.69 billion) in 2023.
• The city saw a record 1,117 Greenfield FDI projects, the highest in its history.
• The total number of announced FDI projects reached 1,826, an 11% increase from 2023.
• FDI-generated jobs surged by 31% to 58,680, up from 44,745 in 2023.

Dubai’s Global & Regional Rankings

• Ranked No.1 globally in Greenfield FDI projects.
• Ranked No.4 globally for attracting Greenfield FDI capital, improving from the 5th position in 2023.
• Top in the Middle East and Africa (MEA) region for Greenfield FDI projects, capital, and jobs.
• No.1 globally in attracting Headquarter (HQ) FDI projects for the third consecutive year, with 50 HQ projects in 2024.

Key Investment Sectors in Dubai

• Business services
• Software and IT services
• Real estate
• Transportation and warehousing
• Financial services
• Industrial equipment
• Consumer products
• Communications
• Artificial intelligence (AI)
• Advanced Information Technologies (AIT)
• Dubai’s share in global FDI for AIT rose from 7.3% in 2023 to 8% in 2024.

Dubai’s Economic Vision & Investor Confidence:

• Strong leadership under His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President & Prime Minister of the UAE, and Ruler of Dubai.
• Growth driven by public-private partnerships and the Dubai Economic Agenda (D33).
• Focus on innovation, startup incubation, digital infrastructure, and cost-effective energy solutions.
• Strategic global partnerships enhancing Dubai’s appeal for investors.