Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, head of the Dubai Culture and Arts Authority, affirmed that Dubai's continued efforts to enhance its competitiveness and establish itself as a global hub for the creative economy reflect the profound vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.

According to the recent report by FDI Markets published by Financial Times, Dubai topped several indicators for foreign direct investment (FDI) projects in the cultural and creative industries for 2024. The emirate retained its position as the best global destination for attracting new FDI projects in this sector for the third consecutive year among 233 ranked cities, surpassing major global cities such as London and Singapore.

In 2024, Dubai attracted 971 projects in the cultural and creative industry, resulting in total foreign direct investment inflows of 18.86 billion AED (approximately 5.14 billion USD), helping to create 23,517 new jobs within the sector.

These results are attributed to flexible government policies that support investment and stimulate foreign direct investment in cultural and creative sectors, further enhancing Dubai's appeal as a preferred destination for investors, entrepreneurs, and innovative project owners.

A notable policy is Executive Council Decision No. (11) of 2025, recently issued by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

This decision facilitates free zone entities to expand their operations beyond designated areas, provided they obtain the necessary permits from the Dubai Department of Economy and Tourism.

This aligns with the ambitious goals of Dubai's Economic Agenda (D33), aimed at building a dynamic business ecosystem that enhances the competitiveness of local and global enterprises in the city.

Furthermore, the 'Zero Government Bureaucracy' Program (ZGB), designed to simplify and streamline government procedures while eliminating unnecessary requirements, improves efficiency, quality, and government flexibility in the country.

The Dubai Culture and Arts Authority also launched the 'International Art Exhibition Grant' initiative earlier in the year to support local galleries and foster their international participation in various events.

Sheikha Latifa noted that Dubai's unique strategies and progressive policies have contributed to its cultural and economic diversity, positioning it as a vital link in the global economy.

She emphasized that Dubai has successfully established an innovative cultural framework that attracts the best talents worldwide.

The emirate aims to stimulate innovation among creative community members and entrepreneurs by addressing their needs and providing opportunities that encourage the transformation of ideas into successful projects, enhancing the local cultural landscape.

In terms of foreign investment, the emirate continues to exhibit significant growth.

According to the Dubai Investment Observatory, the emirate successfully attracted 971 projects in the cultural and creative industries in 2024, representing an 8% increase from the previous year.

This surge brought total foreign direct investment inflows in the sector to 18.86 billion AED, a rise of approximately 60%.

This increase resulted in 23,517 new job opportunities, marking a 9% growth compared to 2023.

This growth corresponds with Dubai's efforts to diversify its economy, particularly in sub-sectors that led this expansion, which include advertising and public relations, specialized software services, education within cultural industries, and film, media, and gaming services.

Data indicated that the top five source countries for foreign direct investment in the cultural and creative industries in Dubai for 2024 were the United States, which accounted for 23.2%, followed by India at 13.4%, the United Kingdom at 9.4%, Switzerland at 7.6%, and Saudi Arabia at 4.8%.

In terms of project counts, India led with 18.8% of new investment projects in this sector, followed by the United Kingdom with 16.3%, and the United States with 14.2%.

The data also reveal that newly established (wholly owned) ventures constituted 76.5% of the total new investment projects, while new types of investments made up 15.4%.

Reinvestment projects accounted for 5.6%, with mergers and acquisitions representing 2.4% of the total foreign direct investment in registered sectors during 2024.

Hala Badri, General Director of 'Dubai Culture,' highlighted that Dubai's leading position in the index of foreign direct investment projects illustrates its resilience and the promising investment environment fostering creativity.

Dubai’s future ambitions and its ability to diversify economic sources solidify its status as a prominent global investment hub.