Looking at the latest cost of living will provide a better understanding of the people who wants to go and live in Dubai. It might help in planning smart finance. It is the tax-free system and extravagant lifestyle in Dubai that attracts people from different places. There is no tax on salaries but a minimum value-added tax on commodities, despise this there might still be a burden.
Cost of Living in Dubai (UAE) for Expats
The survey by Mercer in 2018 reveals that Dubai has lost the ranking of most expensive countries from 19th to 26th, which indicates that the cost of living has decreased. To mention, a litre of gasoline costs USD0.49 in Dubai, while it costs USD0.68 in the United States and USD1.57 in the United Kingdom. Likewise, the rent cost of a double bedroom apartment costs USD2,995 in Dubai, while it costs an average of USD 5,700 in the United States and USD 4,335 in the United Kingdom. However, despite the drop by ranking, as far as the Middle East cares, Dubai remains the foremost expensive city, followed by Abu Dhabi, Riyadh, and Beirut. A reason for the relative reduction of cost of living is that the depreciation of the USD and AED against several major currencies within the past year. one more reason is that the constant decrease in rental accommodation. Rental prices generally contribute immensely in determining the value of living for expats, particularly, the general cost of living.
The comparatively low cost of living in Dubai, as compared to other cities, makes it a beautiful destination for expat employees. the importance of a mobile workforce to effectively deploy talent is now being realized by multinational organizations. Having a good idea of the value of living in each city is important for assessing expat remuneration packages. Give, the low cost of living as compared to varied other major cities, the UAE continues to draw in top talent from across the planet, allowing scope for better economic process and innovation. Without having lived in Dubai, knowing what proportion of a salary you’ll need is difficult to work out, but having a good idea of the value of Living data forms the idea of compensation packages for international assignees.
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