Asia makes up 62.7% of multinational companies drawn by Dubai Chamber in 2024

Post by: Bandan Preet

Photo: Dubai Government Media Office

Dubai International Chamber, part of Dubai Chambers, has shared exciting news about its work in attracting multinational companies (MNCs) to Dubai in 2024. A huge 62.7% of these companies came from Asia, showing that Dubai is becoming an important destination for businesses from around the world. This is a big step in making Dubai a top spot for international companies to set up operations.

In addition to Asia, Latin America, and Europe each contributed 11.8% of the total MNCs. The Middle East and Eurasia made up 9.7%, while Africa and Australia each accounted for 2%. These figures show how diverse the global interest in Dubai is, with companies from many regions wanting to be part of Dubai’s growing economy.

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In terms of the types of companies, five major industries made up half of the MNCs that were attracted to Dubai in 2024. Each of these sectors contributed 10% of the total. These industries were:

• Construction, trade, and logistics services
• Manufacturing
• Information and communication technology (ICT), including areas like AI, robotics, blockchain, and software
• Retail, fashion, travel, hospitality, and tourism

Another 8% of the companies attracted to Dubai specialized in the mobility sector. This includes industries like aerospace, space, autonomous transport, and traditional transport.

Additionally, three other important sectors made up 18% of the total MNCs. Each of these sectors contributed 6%. These were:

• Healthcare and pharmaceuticals
• Finance, banking, and investment banking
• Energy, including oil, gas, renewable energy, and cleantech

In total, Dubai International Chamber attracted 51 multinational companies in 2024. This is a big increase of 55% compared to 33 companies in 2023. To support this growth, the chamber opened two new international offices, one in Kazakhstan and another in Colombia. With these new offices, the Dubai International Chamber now has 33 offices around the world.

These efforts are helping make Dubai an even more appealing place for international businesses. Dubai is seen as a global business hub, attracting foreign investments and helping local companies find new opportunities in important global markets.

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