Dubai has been ranked top for being the best place to live and travel. Moving ahead, it has snatched its title of being the globally top destination for foreign direct investment in the tourism sector. Dubai ranked at the same position in 2021 and has firmly secured it again this year. You can easily notice the efforts Emirates has taken to increase the job opportunities and other factors to gain this seat globally.
The Global Hub Of Opportunities Retrieves Its Global Ranking
The Emirate claimed the top spot in FDI capital, projects, and job creation in the tourism sector last year. The Financial Times’ fDi Markets statistics was the analysing resource. The Emirate garnered Dh6.4 billion ($1.7bn) in FDI over 30 projects.
According to the Dubai FDI Monitor study issued by the Dubai Investment Development Agency, the new investments and developments created 5,545 local employment during the year.
Also Read:Dubai Ranks Among World’s Most Open Cities For Business And Tourism In The Post-Pandemic World
Dubai Observed A Huge Spike In Global Visitors Post Pandemic
In 2021, Dubai welcomed 7.28 million foreign overnight guests. It was approx. a 32% growth over the past year. The city works to be the most popular tourist spot on the planet.
Multiple industries in Dubai grew huge and induced a large sum of money. The non-oil private industry sector of Dubai continued to expand at a strong rate in June. It was the fastest rate in three years as new orders increased significantly despite rising inflation.
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According to the research, Dubai has continued to top “major international cities. This includes London, Paris, and Shanghai” in luring FDI into the travel industry during the past five years.
Between 2017 and 2021, 205 FDI projects totalling Dh83.5 billion were registered in the Emirate’s tourist sector, creating 30,082 new jobs.
Also Read:Dubai Emerges As One Of The Most Overworked Cities In The World