Dubai tops 2021 FDI tourism ranking

The emirate retained its top rank for attracting foreign direct investment (FDI) in tourism 

According to The Financial Times’ fDi Markets data, Dubai has ranked number one in FDI capital, projects and job creation in the tourism sector in 2021 with AED6.4 billion (US$1.7 billion) in FDI across 30 FDI projects during the year. 

The city rankings of ‘fDi Markets’ are based on investment destinations that attract 10 or more greenfield FDI projects in a year. 

In Dubai, 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).

Dubai’s tourism sector drew AED83.5 billion (US$22.8 billion) in FDI capital across 205 FDI projects during 2017-21, generating 30,082 new jobs.

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Dubai welcomed a total of 7.28 million international overnight visitors in 2021, posting a 32% year-over-year growth, underscoring the city’s efforts to become the world’s most visited destination.

Commenting on the recognition, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council said: "It was all because of the exceptional leadership and visionary policies of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. 

"Even during a challenging year for the sector globally, Dubai’s enabling infrastructure, business-friendly policies and flexible regulatory environment kept pace with the needs of global investors and kept it at the forefront of the world’s FDI destinations.”

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Helal Saeed Almarri, Director-General, DET, said the strong investor interest in Dubai’s tourism sector complemented the emirate’s net gains as an investment destination in 2021. 

The value of total FDI capital that flows into all sectors in Dubai exceeded AED26 billion from 618 announced FDI projects in 2021, with a growth rate of 6% compared to 2020.

FDI Chief Executive Officer, Dubai Fahad Al Gergawi added: "Dubai’s top ranking in terms of jobs created by FDI into tourism proves that the exemplary investment environment developed by the city will continue to attract, retain, and grow financial as well as human capital." 

For more information, visit www.ft.com