⬇ PDF download: Top economic achievements reported in 2024 enhancing Dubai’s business environment
In 2024, Dubai has achieved global recognition for its strong drive to raise its performance in mobility, technology, trade, investment, and government services — among many others. Through its dedication to streamlining regulations, building innovative infrastructures, and conceptualising government-mandated strategies, Dubai has kept its pro-business environment. These measures have subsequently attracted high-net-worth individuals, global corporations, and start-ups who wish to capitalise on the thriving business and investment sectors.
In our third article for this month, part of a series highlighting key developments in the emirate’s economic and corporate fields, we explore the economic achievements that bolster the ease of doing business in Dubai in 2024. From securing top rankings in global indices to being the world’s leading FDI destination, these milestones emphasise the city’s commitment to providing unparalleled opportunities for local and foreign-owned businesses.
Dubai is fortifying its economic standing as it attains key milestones and rises to the top of prestigious international rankings for 2024. These accomplishments reveal the city’s strategic vision, economic resiliency, and persistent dedication to excellence across a variety of industries.
Dubai has secured the top position in the MENA region and is ranked fifth (5th) worldwide, surpassing cities such as Singapore, Amsterdam, and Los Angeles. With an overall score of 86 out of 100, the emirate ranks first (1st) in terms of Reputation and fourth (4th) for Work Opportunities, which displays its appeal to professionals and investors. Additionally, as per the Brand Finance Global City Index 2024, Dubai secured second (2nd) globally for its strong economy and first (1st) for future growth potential.
According to the Global Power City Index (GPCI) 2024, a league table issued by the Mori Memorial Foundation, Dubai ranked 15th globally and first (1st) in the MENA region, excelling in Employment Variety and Workplace Options. The city ranked fourth (4th) globally in Accessibility, driven by its world-class air connectivity and efficient public transport. Dubai also achieved fifth (5th) place in Cultural Interaction and 32nd for its growing number of start-ups — the latter is enhanced by government-led business incentives supporting the growth of young firms and SMEs.
Dubai’s achievements in these indices further make it a compelling destination for HNWIs, investors, and entrepreneurs looking to start a business in Dubai.
Dubai leads in the MENA region on Kearney’s Global Cities Index 2024 and ranks 24th globally. Its standout performance in the new Ease of Entry metric, which highlights talent attraction and retention, enhances the way of doing business in Dubai.
Key details include:
Dubai tied with Abu Dhabi for the global top spot in this metric, reflecting its success in attracting foreign talent and fostering a conducive environment for starting a business in Dubai.
The city’s 10-rank climb in Innovation highlights its capacity to attract private investments and support SMEs, ensuring a dynamic and robust business setup environment.
Kearney’s Global employs key metrics such as (1) Human Capital, (2) Business Activity, (3) Information Exchange, (4) Political Engagement, and (5) Cultural Experience.
These achievements elevate Dubai’s thriving business environment for top executives and business leaders alike.
Dubai International Airport (DXB) reclaimed its position as the world’s busiest airport in December 2024, serving 5.3 million seats. This marks a 5% monthly increase, surpassing Atlanta’s Hartsfield-Jackson Airport.
Key statistics include:
DXB ranked 4th globally in accessibility, which is driven by its extensive international flight network
The airport supports Dubai’s logistics and tourism industries, which are considered among the key pillars of its economy.
The emirate of Dubai consistently leads in international air traffic, outperforming London Heathrow and Singapore Changi thereafter.
This achievement underlines Dubai’s influence in facilitating global trade and tourism, which directly supports its business environment.
For the third consecutive year, Dubai has secured the top spot as the No.1 global destination in the Tripadvisor Travellers’ Choice Best of the Best Awards 2024. This recognition reflects Dubai’s exceptional tourism offerings, infrastructure, and hospitality, as well as its strategic focus on delivering world-class experiences for visitors.
In addition to this award, the emirate has been ranked No.1 for relocation by Remitly, No.2 in Euromonitor’s Top 100 City Destinations Index, and the safest destination by Numbeo. Indeed, Dubai’s focus on quality experiences and cutting-edge developments makes it an ideal place for those exploring tourism opportunities or starting a business in Dubai.
For the third consecutive year, Dubai ranked first (1st) globally for attracting greenfield FDI projects, according to fDi Markets. The emirate accounted for 6.2% of the global total, with 508 projects in the first half of 2024 alone.
Key insights:
In H1 2024, the city gained a total of 801 FDI projects valued at AED21.85 billion
AI, fintech, real estate, tourism, and logistics were the leading investment areas
Dubai ranked 5th globally for jobs created through FDI
These investments reflect the success of Dubai’s business incentives and its ability to attract global enterprises seeking business setup opportunities.
Dubai’s outstanding achievements in 2024 undoubtedly amplify its voice in the global investment and innovation expanse. These milestones, along with its pro-business policies and strategic vision, enhance the ease of starting a business in the emirate. Entrepreneurs and investors worldwide arguably benefit from Dubai’s forward-thinking approach, making it a top place for company success.
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