Several heterogeneity factors such as government policies on foreign trade, growth rate of economy, market size and cost of labour in emerging economies motivated this study. However, bulk of recent empirical cross country studies on FDI and economic growth in emerging countries have shown mixed results. Therefore, this study employs OLS technique to examine a comparative analysis of performance of FDI inflows in BRICS economies alongside with Singapore and Hong Kong in the last 27 years. Consequently, the findings from this analysis show that the principal determinant of FDI inflows in China is large market size, growth rate and GDP per capita growth. Meanwhile, only the market size is the principal determinant of FDI inflows in Brazil, India, South Africa, Singapore and Hong Kong and GDP per capita growth is an insignificant determinant of FDI inflows in both Russia and South Africa. This paper hereby recommends based on its findings that: the policy makers in Brazil, India, Russia Federation, South Africa, Singapore and Hong Kong should embark on policy measures that will facilitate a rapid expansion of the country`s market size. This in turn will have a positive multiplier effects on the growth rate and GDP per capita growth in their economies. However, policy makers in China should embark on policy measure that will ensure the sustainability of the market size of the economy.