The Financial Times newspaper found that the emirate brought in $1.7 billion in FDI for 30 separate plans in 2021, making it swimming in the most amount of capital.
After the news went public, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the Chairman of the Dubai Executive Council took to Twitter to outline his plans to “continue” their top spot.
He tweeted: “We will continue our efforts to consolidate Dubai's position as a pivotal global centre for attracting investments and a major driver of the global economy, by providing them an attractive and highly competitive investment environment.”
The Crown Prince also stressed the importance of maintaining the emirate’s solid infrastructure, their pro-enterprise policies and elastic regulations to keep their dominance in FDI.
In 2021, the city saw 7.8 million visitors, which represented a 32 per cent increase in year-on-year growth and pushed them to becoming one of the world’s most visited places.
The Dubai FDI monitoring report - which is published by the Dubai Investment Agency - also showed that their investments created roughly 5,545 jobs.
Over the past five years, the city has seen millions pour from 205 FDI projects, creating 30,000 jobs and cementing their supremacy over other world cities, such as London, Paris and Shanghai.
Fahad Al Gergawi, the CEO of Dubai FDI told the Khalee Times: “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.”
Helal Saeed Almarri, the director-general of Dubai’s Department of Economy and Tourism added: “Dubai also launched concerted efforts in key source markets to showcase its capabilities in enabling business growth and as a leading global tourism centre. Dubai’s top rank reflects the effectiveness of the multi-geographic campaigns and its diversified offering across sectors.
“The new policies and legislation being adopted to align the UAE economy with global developments and the long-term residency being offered to investors and entrepreneurs will see Dubai and its tourism sector sustaining the FDI momentum through to 2022 and beyond.”