Dubai is currently recorded among the main 25 most extravagant urban communities on the planet, as per the latest overview by the firm, Mercer.
What triggered Dubai to become such a prosperous and extravagant city? One of the major contributors is the emirate’s buyer costs that have been rising significantly after the economy bounced back remarkably, post the emirate’s financial setback. Thus, Dubai’s fruitful offer to look after Expo 2020, likewise, triggered an advancement blast, chiefly driving up property rents and expenses.
Following this further, the buyer inflation rate of Dubai encountered a six-year boost since May 2009, increasing by 4.7% over the years, as demonstrated by the records of the city’s Statistics Center. Food and drink costs of the city, which represented 11% of aggregate costs, ascended by 1.7% year after year and by 3% month over month. Meanwhile, utility and housing expenses, which compensated for 44% of costs, increased by 7.8% over the years and they expanded by 0.7% over the month. The emirate’s education and transport industries also played a crucial role in its prosperity, as universities and schools in the UAE are going through a recurrent increase in fees and the costs of Taxis and ticket prices of the Dubai metro have also seen a significant rise.
Dubai’s neighbor, Abu Dhabi, is not too far behind either when it comes to prosperity. According to a study, Abu Dhabi and Dubai were recognized as the 33rd and 23rd most luxurious cities in the world to reside in, while they were, likewise, the most lavish destinations in the Middle East.
The statuses of both the nations have risen fundamentally from the earlier year, showing the precarious improvement of living expenses. Dubai climbed up 44 spots from its earlier standing at number 67, and Abu Dhabi progressed up 35 spots from previously being at number 68, as shown in the records collected in 2014 by Mercer.