Dubai Tops Greenfield FDI Rankings for Fourth Year, India Drives Investments In 2024
India emerged as the leading source of FDI capital into Dubai, accounting for 21.5% of total flows in 2024.
Dubai has once again been ranked as the world’s top destination for Greenfield Foreign Direct Investment projects in 2024 for the fourth successive year, according to Financial Times Ltd.’s ‘fDi Markets’ data. The emirate attracted a record-breaking AED 52.3 billion ($14.24 billion) in estimated FDI capital, a 33.2% increase from AED 39.26 billion ($10.69 billion) in 2023, the highest annual FDI value recorded since 2020.
Dubai also registered 1,117 Greenfield FDI projects in 2024, the highest in its history, while total announced FDI projects reached 1,826, up 11% from 2023. The investments generated an estimated 58,680 new jobs, a 31% rise from the 44,745 jobs created in the previous year.
India emerged as the leading source of FDI capital into Dubai, accounting for 21.5% of total flows in 2024, followed by the United States at 13.7%, France at 11%, the United Kingdom at 10%, and Switzerland at 6.9%.
In total announced FDI projects, the UK led with 17%, followed by India with 15%, the US with 14%, France with 4.5%, and Italy with 4%. India’s FDI investment in Dubai stood at approximately $2.013 billion, with 275 announced projects, as per Dubai's Economy and Tourism official data.
Top FDI Sectors and Investments
In 2024, Dubai ranked No. 1 globally for Greenfield FDI projects, capital, and jobs created in key sectors, including consumer goods, industrial, transportation or warehousing, food and beverages, tourism, cybersecurity, and e-commerce.
The top five sectors by FDI capital included hotels and tourism (14%), real estate (14%), software and IT services (9.2%), building materials (9%), and financial services (6.8%). In terms of FDI projects, business services (19.2%), food and beverages (16.5%), software and IT services (14.3%), textiles (9.6%), and consumer products (8.3%) led the way.
Dubai was also ranked No. 1 globally for attracting FDI projects in financial services, headquarters, real estate, and artificial intelligence. The city’s share of global Advanced Information Technologies, or AIT, FDI projects grew from 7.3% in 2023 to 8% in 2024, reinforcing its appeal as a top destination for tech-driven investments.
New Forms of Investments, or NFIs, increased by 23% in 2024, while reinvestments surged by 98%, highlighting sustained investor confidence. Venture capital-backed FDI rose by 39%, and mergers and acquisitions (M&As) increased by 8%.
Dubai’s FDI outlook for 2025 remains strong, with continued interest in high-tech and innovation-led sectors, as per the official Financial Times Ltd.’s ‘fDi Markets’ data.
