Dubai Retains Top Spot in World’s FDI Destinations for Tourism
- Publish date: Thursday، 22 December 2022
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Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021.
With AED6.4 billion in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector in 2021, according to The Financial Times’ fDi Markets data, a leading global data source on crossborder greenfield FDI investments.
The city rankings of ‘fDi Markets’ are based on investment destinations that attract 10 or more greenfield FDI projects in a year.
Dubai’s tourism sector attracted AED6.4 billion (US$1.7 billion) in FDI across 30 FDI projects in 2021.
The new investments and projects generated 5,545 new jobs during the year, according to the Dubai FDI Monitor report, published by the Dubai Investment Development Agency (Dubai FDI), an agency of the Dubai's Department of Economy and Tourism (DET).
The year also marked a successful five-year period during which Dubai stayed ahead of leading international cities, including London, Paris and Shanghai, in attracting FDI into tourism. Dubai’s tourism sector attracted AED83.5 billion (US$22.8 billion) in FDI capital across 205 FDI projects during 2017-21, generating 30,082 new jobs.
Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth, and underscoring the city’s efforts to become the world’s most visited destination.
The value of total FDI capital flows into all sectors in Dubai exceeded AED26 billion from 618 announced FDI projects in 2021, with a growth rate of 5.5 percent compared to 2020.
This article was previously published on UAE Moments.To see the original article, click here