Abu Dhabi, Dubai, and Sharjah have emerged as relatively affordable cities compared to major global counterparts in Asia, Europe, and the US, despite an increase in the cost of living over the past few years, according to data from Numbeo, a global data provider focusing on economic, social, and safety indicators.
In Numbeo’s 2024 Cost of Living Index, these three emirates ranked significantly lower than cities such as Zurich, Geneva, New York, Los Angeles, Oslo, Singapore, London, and many others. Specifically, Dubai held the 142nd position, Abu Dhabi ranked 156th, and Sharjah stood at 202nd place in the affordability index.
Swiss cities, notably Zurich, Basel, Lausanne, Geneva, and Bern, dominated the list of the world’s most expensive places to live. Hamilton in Bermuda maintained its position as the costliest city to reside in.
On the other end of the spectrum, the most affordable cities were mainly Asian, including Thiruvananthapuram, Peshawar, Karachi, Lahore, Visakhapatnam, Bhubaneswar, Raipur, Kozhikode, Bhopal, and Bishkek.
Numbeo’s data revealed that the cost of living in these three emirates increased for the second consecutive year in 2023. Dubai, in particular, made a notable jump in its ranking, from 182nd in 2023 to 142nd in 2024. Abu Dhabi also saw an increase, moving from 266th to 156th place, while Sharjah climbed from 319th to 202nd.
The key factors driving this increase were rising rental costs, grocery prices, and dining out expenses. In the rental index, both Dubai and Abu Dhabi significantly moved up, with Dubai going from 53rd position in 2023 to 29th in 2024, and Abu Dhabi jumping from 70th to 41st. The continuous influx of foreign workers into the UAE contributed to consecutive years of double-digit rental rate increases.
In the grocery index, these emirates also experienced an uptick in the cost of consumer goods, reflecting a broader trend in the country. The consumer price index, as reported by the Dubai Statistics Centre, rose due to factors like transportation, recreation, housing, and utility services.
Dubai, known for its vibrant culinary scene, was recognized as one of the world’s top 10 cities for foodies in 2023. It claimed the second spot globally in terms of restaurant density, making dining out a prominent part of the local lifestyle.
Overall, while the cost of living in these emirates has increased, they remain relatively affordable compared to many other major cities around the world.
Also Read:
Dubai’s Discovery Dunes Unveils Ultra-Luxury Residential Oasis with Unique Amenities