Dubai Hits Record 16th in Global Finance Ranking as DIFC Surpasses 1,000 Firms

Dubai has reached 16th place in the Global Financial Centres Index (GFCI 36), marking its highest-ever position in the international benchmark. The ranking follows a period of rapid expansion for the Dubai International Financial Centre (DIFC), which now hosts more than 1,000 active financial and innovation-related firms for the first time since its inception. The emirate climbed four places from the previous report, maintaining its position as the top-ranked financial hub in the Middle East, Africa, and South Asia (MEASA) region. Data from the first half of 2024 indicates that the number of active financial entities in the DIFC rose to 1,081, a 26% increase compared to the same period last year. Record Growth in Financial Entities The surge in active firms includes a diverse mix of international banks, asset managers, and insurance providers. Total active registered companies in the DIFC reached 6,153 by mid-2024, a 24% year-on-year increase. This growth has been supported by a 34% rise in new company registrations, with 820 new firms joining the centre in the first six months of the year. Financial sectors showed specific strength in wealth and asset management, with 442 firms…