Between August and October 2013, greenfield investment monitor fDi Markets recorded a consistent increase in the number of tracked United Arab Emirates inward investment projects. Data recorded shows an increase from 27 projects in August to 29 in September and 30 in October. This is a reversal of the downward spiral tracked during the prior three months when 29 projects in May fell to 25 in June and a low of 19 in July.
Job creation has also experienced a corresponding recovery. Jobs created rose from the 639 recorded in July to 1793 in August before falling to 1579 in October, a level approximate to the yearly average. Conversely, inward capital expenditure amounts appear to have been unaffected by the decrease in projects recorded during the May to July period. fDi Markets has recorded investment capital levels as remaining relatively steady during this period. Excluding an initial drop of $502m between April and May, tracked capital expenditure during June, July and August fluctuated by just $1m each month. September recorded an increase of 122% before falling again in October by 48%.
Dubai has consistently remained the most popular emirate for inward FDI within the UAE. Investment levels into the city have varied in correlation with wider UAE FDI levels. Steady project figures during the first quarter decreased to a low of 16 in July before rising to 27 in October. A similar correlation can be seen for the number of jobs created in Dubai. A low of 412 was recorded in July before rising 205% to an eight-month high of 1260 in October.
Both the US and the UK have remained the most prevalent source countries for UAE destined FDI during this period. The two countries combined account for 41% of all inward UAE investment between April and October and have created 2373 new jobs between them.