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
The Expensify Visa® Commercial Card Brings New Proactive Spend Controls to 14 Countries17.8.2026 16:00:00 EEST | Press release
Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, travel, and corporate cards, today expanded the reach of Expensify Card spend rules, the market-leading way for businesses to control corporate card spend before it happens. Available to businesses in 14 countries, spend rules let admins decide exactly how, where, and when each Expensify Card can be used, so only compliant transactions go through. Unlike traditional corporate cards that rely on after-the-fact expense review, the Expensify Card enforces policy at the point of purchase. Admins set the rules once, and the card handles the rest. With Expensify Card spend rules, admins can: Lock a card to a subscription. Give each recurring SaaS tool its own virtual card, so a vendor can only ever charge what it should. If the card owner changes teams or leaves, the subscription keeps running, with no swapping cards and no missed payments. Cover a one-time purchase. Issue a virtual card for a single transaction like event r
Riskified Analysis Finds Travel Fraudsters Are Adapting Faster Than Traditional Signals Can Keep Up, With May Flight Risk Up 32%17.8.2026 15:30:00 EEST | Press release
Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released new findings from its Travel Industry Insights report, revealing how sophisticated fraud rings and AI-enabled fraudsters are evolving their tactics across airlines, hotels, and online travel platforms. Riskified’s analysis shows that fraudsters are increasingly adapting their behavior to resemble legitimate travelers, making traditional fraud indicators less reliable and creating new challenges for travel merchants. Riskified’s analysis of hundreds of millions of travel transactions across flights, hotels, and land transportation found that flight fraud risk increased through the first five months of 2026, with May 2026 marking the sharpest year-over-year increase at 32% compared to May 2025. The findings show that sophisticated fraud activity is not limited to predictable travel peaks, with organized fraud rings continuously adjusting their methods throughout the year. Riskified's travel n
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 14:54:00 EEST | Press release
PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets under management and achieved an annualized total shareholder return of 5.8% since 2017. Total shareholder return in 2025 was positively driven by increased dividends from portfolio companies and returns from financial investments. It was also impacted by downward movements in the valuations of some assets, as a result of wider market conditions, an
Foundever Successfully Closes a Holistic Recapitalization, Reducing its Debt by Nearly $900 Million and Strengthening its Financial Position for Long-Term Growth17.8.2026 14:30:00 EEST | Press release
Foundever Group S.A.® (“Foundever” or the “Company”) – a global leader in integrated customer experience, digital operations and analytics services, today announced that it has successfully closed a holistic recapitalization (the “Transaction”) in coordination with 95.4% of the lenders under its term loan facility (“Term Loan Lenders”), 100% of its revolving credit facility lenders (“RCF Lenders”), and the Company’s existing majority shareholders. The Transaction meaningfully strengthens Foundever’s financial foundation and positions the Company to invest in its growth strategy. Key terms of the Transaction include: Company's existing majority shareholders invest $225 million into common equity. Term loan facility exchange reduces the Company's total debt by nearly $900 million. Revolving credit facility maturity date is extended by more than four years to December 2030, and term loan maturity date is extended by more than 2.5 years to March 2031. Certain of the Company's RCF Lenders p
Uniphore Launches Marketing AI as Marketing Moves Beyond the CDP17.8.2026 14:30:00 EEST | Press release
Uniphore, the Business AI company, today launched Marketing AI, ushering in a new era of enterprise marketing built on customer intelligence rather than customer data management. Uniphore Marketing AI gives marketers the ability to know every customer better than ever before, predict what each customer is likely to do next and simulate marketing outcomes before committing budget. The system continuously learns from every customer interaction, making its predictions more accurate with every cycle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817325069/en/ The Uniphore Marketing AI Flywheel: A Self-Learning System Named a Leader in the 2026 Gartner® Magic Quadrant™ for Customer Data Platforms, Uniphore has helped enterprises bring customer data together while providing sovereign control over where that data lives. Marketing AI builds on that foundation, extending Uniphore’s composable approach from the data layer into the
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