“Dubai will never settle for anything less than first place”- HH Sheikh Mohammed bin Rashid Al Maktoum.
Keeping the streak alive, Dubai, for the fifth time in a row, beat the leading cities of the world and earned the top spot as an FDI destination for tourism, ranking first in FDI capitals, projects, and job creation in the Tourism sector in 2021. The ranking has been awarded by a prominent global data source on cross-border greenfield FDI investments, The Financial Times’ FDI Markets.
How did Dubai become a hotspot for tourism? Let’s discover!
FDI capitals
FDI worth $ 1.7 billion/AED 6.4 billion from 30 FDI projects dropped into the big pockets of Dubai and the total FDI capital flows in all sectors in Dubai exceeded $ 7 billion/AED 26 billion from 618 announced FDI projects in 2021 with growth rate of 5.5 % compared to 2020. These are huge numbers, right? Contact the finest lawyers in Dubai who have hands-on experience in investment and business matters.
Jobs creation
The Dubai FDI Monitor report, published by the Dubai Investment Development Agency, states that investments and projects created over 5,000 new jobs in Dubai.
Expo 2020:
Dubai hosted a six-month mega event celebrating the UAE’s Golden Jubilee, drawing millions of visitors to this highly globalized city. Dubai has been voted ‘The world’s most popular destination’ in the Tripadvisor Travellers’ Choice Awards 2022. Further, Dubai welcomed 7.28 million international visitors in 2021, which is truly insane!
Infrastructure:
Dubai boasts world-class infrastructure, a high standard of living, exceptional opportunities, stable and sustainable returns, and business-friendly policies. A simplified immigration process, and a flexible regulatory environment making it the most attractive city for investment in the world.
Enabling ecosystem:
The UAE amended around 40 laws to become an investor-friendly country. Other initiatives, such as the Golden Visa, virtual working, and retirement benefits in Dubai programs, continue to attract global talent. To avoid any mistakes, investors should consult a highly experienced lawyer in Dubai.
Secured future:
Dubai’s 2040 urban master plan also aims to enhance Dubai’s reputation as a global destination for tourism and investment. These plans promise long-term security to investors.
“Sheikh Hamdan tweeted, “We will intensify our efforts to ensure that Dubai’s enabling infrastructure, business-friendly policies, and flexible regulatory environment keep it at the forefront of the world’s FDI destinations.”
Conclusion
Dubai, the top FDI destination for tourism, continues to reach new heights with its capabilities. BSB Legal’s leading lawyers in Dubai will help you capitalize on these opportunities. For legal consultation contact us at info@bsb.legal or call us at +97150 8014003.