Dubai gets nearly $10bn as FDI in 2023

By Andrei Skvarsky.

Dubai received $9.77bn in 2023 as foreign direct investment (FDI), the emirate’s Department of Economy and Tourism said.

The United States was the source of the largest single proportion – one-fifth – of the amount. British investments made up the second-biggest share, about 9 per cent. India was third with an input of 6 per cent.

China contributed 1 per cent, according to a report from the department.

Nearly half the amount were greenfield investments. One-third were inputs into mergers and acquisitions.

Regarding sectors and specialist fields, 45.5 per cent – the largest single proportion – of the year’s FDIs were investments in business services and nearly one-third in financial services. Much smaller amounts were put into the information technology, food and beverages, consumer goods, real estate, transport and leisure and entertainment sectors.

More than a third of the 2023 FDIs went into projects involving activities based on medium or high technology, according to the report.

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