Dubai Ranks First Globally in FDI for Cultural and Creative Industries 2023
6.6.2024 18:32:00 EEST | Business Wire | Press release
Dubai has topped the Foreign Direct Investment (FDI) Index for cultural and creative industries in 2023, according to the 'fDi Markets' report by the Financial Times. This ranking reaffirms Dubai’s leadership and enhances its competitiveness as a global capital of the creative economy.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240606835811/en/
Dubai topped the Foreign Direct Investment Index for cultural and creative industries in 2023 per the Financial Times’ fDi Markets report (Graphic: AETOSWire)
The emirate ranked first globally as the top destination for job creation and capital inflows in the cultural and creative industries (CCI) sector, out of 115 other destinations in the report. This achievement places Dubai ahead of major global cities such as London, New York, and Singapore.
According to data from the Dubai FDI Monitor, released by the Dubai Department of Economy and Tourism (DET), Dubai has attracted 898 projects in the cultural and creative industries sector in 2023, almost double the figure from the previous year. This led to AED 11.8 billion in FDI capital inflow, which was a 60% increase. An estimated 21,563 new job opportunities were created in 2023, 74% up on 2022.
Within the ranking of the top five source countries for FDI capital inflows into CCI in Dubai during 2023, data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics showed an increase in capital inflows. The US led with 33.2%, followed by the UK at 12.4%, India with 9.1%, Hungary on 4%, and Denmark’s 3%. The US also topped the list for creating new job opportunities through FDI into Dubai’s CCI with 19.2%, India boasting 16.3%, the UK 15.7%, Singapore with 5%, and France’s 4.2%.
In terms of the number of FDI projects announced in 2023 in the CCI sector, the UK led with 17.8%, followed by India with 16.9%, the US at 16%, France with 4%, and Italy’s 3.8%, highlighting Dubai’s efforts and strategies to focus on these markets as key partners.
Data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics indicated that wholly-owned Greenfield FDI projects accounted for 78.7% of Dubai’s total CCI in 2023. New Forms of Investments (NFIs) were 16.1%, reinvestment projects made up 3%, and mergers and acquisitions tallied up to 2.1% of the projects in the registered sectors.
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240606835811/en/
Contact information
Joumana Alkhani
joumana.ak@cbpr.me
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Boomi Named One of The Sunday Times Best Places to Work 202622.5.2026 09:00:00 EEST | Press release
Boomi, the data activation company for AI, has today been named one of The Sunday Times Best Places to Work 2026 in the Medium Organisation category. The prestigious annual list, produced by The Sunday Times in partnership with global workplace analytics company WorkL, recognises the UK's finest employers based entirely on direct employee feedback, making it one of the most credible and transparent employer benchmarks in the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521069859/en/ Boomi Named One of The Sunday Times Best Places to Work 2026 Boomi's results speak to a workplace culture that goes well beyond industry norms. The company achieved an average employee happiness score of 86%, rated Excellent, with consistent scores across all six dimensions of WorkL's framework. Most strikingly, Boomi's flight risk, the proportion of employees who may be considering leaving, stood at just 3%, against a technology se
LTM Has Issued an Offer to Acquire Randstad’s Technology and Consulting Services Business in Europe and Australia to Scale Domain-Driven Solutions and AI Services22.5.2026 08:09:00 EEST | Press release
LTM and Randstad announced that LTM has issued an offer to acquire Randstad’s Technology and Consulting Servicesbusiness in France, Germany, Belgium, Luxembourg and Australia, representing USD 500+ million (€469M) in annual revenue, to scale domain-driven solutions and AI services in the region. The proposed acquisition would expand LTM’s presence in key markets, primarily across Aerospace & Defence, Automotive, Utilities and BFS. It would enable local domain expertise and complementary regional capabilities in domain-driven digital engineering, cybersecurity and IoT, supported by onshore and nearshore delivery through centers in Romania and Portugal. This would create a more diversified portfolio for LTM – expanding its scale in Europe and Australia, enhancing its position in regulated and high-growth verticals through marquee customer relationships. The deal would augment LTM’s global AI-centric capabilities with local domain and near-shore expertise crucial for delivering digital an
Polpharma Biologics and Tuteur Sign Licensing Agreement for a Biosimilar for Autoimmune Diseases22.5.2026 08:00:00 EEST | Press release
Polpharma Biologics, a leading biopharmaceutical company specializing in the development and manufacturing of biosimilars, today announced the signing of a landmark licensing agreement with Argentina-based Tuteur. Under this strategic partnership, Tuteur will obtain exclusive rights to commercialize a biosimilar for autoimmune diseases across Latin America (LATAM), excluding Brazil. Polpharma Biologics will retain full responsibility for the development and manufacturing of the biosimilar. Tuteur will be responsible for commercialization, marketing, and distribution in the licensed territories. This collaboration reflects a shared commitment to expanding patient access to high-quality, affordable biological therapies across the region. “Partnering with Tuteur represents an important step in advancing our mission to broaden access to biosimilars globally,” said Anjan Selz, CEO of Polpharma Biologics. “With their strong regional expertise and commercial capabilities in LATAM, we are well
Global Stars Ahn Hyo-seop and Khalid Release New Cross-Market Single “Something Special” via FANDOM Today22.5.2026 07:00:00 EEST | Press release
Today marks the official release of “Something Special,” the highly anticipated cross-market collaboration from international star Ahn Hyo-seop and multi-platinum recording artist Khalid, available now via FANDOM on all major streaming platforms. Stream the single HERE. Musicow will also release an official music video in June, highlighting the unique chemistry between Ahn Hyo-seop and Khalid while bringing the song’s cross-cultural collaboration to life on screen. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260522928365/en/ Ahn Hyo-seop, globally recognized for his breakout role as “Jinu,” the leader of demon boy band Saja Boys in Netflix’s animated phenomenon KPop Demon Hunters, joins forces with Grammy-nominated artist Khalid for a genre-blending release that bridges the worlds of K-pop and U.S. R&B - two of the most influential forces shaping contemporary global music culture. Produced by Woo “RAINSTONE” Rhee, known f
Lenovo Group: Q4 and Full Year Financial Results 2025/2622.5.2026 02:47:00 EEST | Press release
Lenovo GroupLimited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported fourth quarter and full year results for fiscal year 2025/26, marking an exceptional Q4 and the strongest year in the Group’s history. During the quarter, overall Group revenue reached an all-time fourth quarter high of US$21.6 billion, up 27% year-on-year, marking the highest year-on-year growth rate in five years, with adjusted net income[1]doubling year-on-year to US$559 million. AI-related revenue[2] stood out as a leading growth engine, growing 84% year-on-year to account for 38% of total Group revenue in Q4. For the full year, the Group delivered record revenue of US$83.1 billion, with adjusted net income growing 42% year-on-year to US$2 billion. All business groups achieved solid double-digit year-on-year revenue growth, with a notable record full-year performance from the Infrastructure Solutions Group (ISG) with revenue of US$19.2 billion, full-year profitability, and US$
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom