Dubai: Overpriced and oversold?

11 June 2008

1 minute read

Yes there are jobs, but Dubai is also expensive and offers a lower standard of living than financial centres in Europe and the US. Is the Emirate therefore really the best place to be situated?

A whopping 66% of employers quizzed by YouGov Siraj, an online research firm, say rising inflation means Dubai is less attractive and that it will struggle to attract the talent it needs.

Another blow comes in the form of the annual Mercer quality of living city survey. Dubai and Abu Dhabi were ranked the highest in the Middle East in positions 83rd and 87th respectively, but were still usurped by the likes of London (38), New York (49) and Tokyo (35). The best financial centres to have a homestead in were Zurich (1), Vancouver (4) and Sydney (10).

For all the pomp about attracting Wall Street and European talent from investment banks, standard of living is surely something they'll consider before moving to the GCC.

So, is the shiny new city of Dubai losing its gleam? Or do the low rankings mean nothing when the only way is up? Your thoughts please...

AUTHOReFinancialCareers Gulf

Insider Comment

Jo
Jon
18 June 2008
I laughed out loud when I saw how highly rated Sydney was in that particular survey. If you think Dubai is oversold come to Sydney. The financial market is tiny and introspective and local employers are largely clueless when it comes to employing anyone with overseas qualifications. As for housing, you're looking at easily $1m for a house within reasonable commuting distance; incidentally, Sydney also tops another global survey, "Least Affordable Housing"... NSW has chronic infrastructure problems, as a result of more than a decade of government neglect, combined with a breathtaking level of political corruption. Ironically, I've decided to seek work in the UAE, it may not be much better than Australia, but at least I won't be taxed at >40% for the "privilege" of living there.
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A
A
12 June 2008
i have heard good things about Bahrain as well. But flights out of that place is hell
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Jo
John
11 June 2008
I'm just going to throw this out there, but don't you think Bahrain is better than Dubai?
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Gi
Giles
11 June 2008
The thing that makes Dubai a worse place to live than Europe is one simple fact - it is too bloody hot.
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Fi
Firaz
11 June 2008
Dubai is expanding rapidly, but let's not pretend it has as much to offer culturally or in terms of nice places to live as other cities. A plush multi-story apartment block isn't everyone's idea of a a good lifestyle, and it has no right to charge as much as it does.
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