Financial sector tops global FDI ranking

Dubai and the Dubai International Financial Center (DIFC), the leading global financial center in the Middle East, Africa, and South Asia (MEASA) region, have topped the global ranking in attracting foreign direct investment (FDI) projects in the financial services sector in 2021, according to a report by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET).

The ranking is based on the ‘fDi Markets’ data of the Financial Times, the most comprehensive database of cross-border greenfield investments available, covering all countries and sectors worldwide.

DIFC also ranked first during the five-year period from 2017 to 2021, led by its reputation as a global financial center, in addition to its continued focus on shaping the future of finance by attracting leading companies and innovative startups to set up, operate and scale in Dubai.

According to the Dubai FDI Monitor, published by Dubai FDI, Dubai attracted 58 FDI projects in the financial services sector, totaling AED 926.2 million and generated around 1,432 jobs in 2021. Dubai surpassed major financial cities such as London, Singapore, New York, and Paris, reaffirming DIFC’s status as a global financial hub.

Between 2017 and 2021, Dubai attracted 184 FDI projects worth AED 5.2 billion and created approximately 5,727 jobs. By the end of 2021, Dubai ranked first globally in the financial services sector in attracting FDI projects, third in job creation, and fifth in FDI capital generated.