Career and pay growth, tax free income, education, health, transport, sun, sea, sand, shopping, culture, and lifestyle are all good reasons to move to Dubai. In addition to that, the recent government initiatives and regulations such as the 10-year residency visa, five-year retiree visa, short-stay transit visa and 100 per cent foreign ownership of onshore companies make Dubai even more attractive.
The government has also reduced government fees and fines, and froze school fees making Dubai even more affordable in 2019 compared to the previous year with prices of groceries and restaurants declining on a year-on-year basis.
According to the latest Cost of Living Index data by Numbeo, which collects databases about cities and countries worldwide, Dubai is rated as the 217th costliest city in the world in 2019 compared to 210th in the previous year – helped by a fall in inflation, a stronger dirham and a substantial increase in purchasing power of residents.
When compared to the world’s six costliest cities, Dubai was 53 to 58 per cent cheaper than the Swiss cities of Basel, Zurich, Lausanne, Bern, Geneva and Lugano, which were rated the costliest cities in the world, in terms of prices of groceries and restaurants.
Restaurant and grocery prices in Dubai are substantially cheaper compared to Basel by 53 per cent and 70 per cent, respectively.
Rentals in Dubai are cheaper by just five per cent. But if the cost of living index is combined with the rental index, the emirate becomes much cheaper at 45 per cent.
Among other top cities, Dubai overall is 45 per cent cheaper compared to New York because rents in the emirate are lower by 57 per cent, groceries by 38.4 per cent and restaurant prices by 41 per cent compared to the US city.
Dubai is 33 per cent more economical than London because rents, groceries and restaurants costs are less by 38 per cent, 37 per cent and 10 per cent, respectively, against The City, which was rated the 26th costliest in the world.