Cost of Living in the United Arab Emirates
While people often banter about giving up their old lives and moving to a new, more exciting country, it’s important to explore the cost of living change that comes with it. It turns out that the cost of living in the United Arab Emirates, and Dubai especially, is higher than one might expect.
Business Insider ranks the United Arab Emirates as 10 points higher on the cost of living expense scale than the United States. Its closest neighbors in relation to the cost of living are countries such as the Bahamas and Norway.
This high cost of living is evident in everyday prices. For example, the average monthly rent for a 900-square-foot apartment is more than $2,654. An average lunch is $15 and a pair of jeans runs to around $82.
In comparison to the United States, even these daily expenses appear slightly steep. Going for lunch rings in around $14 and the same size apartment is estimated to be $2085. Jeans, by the same standards, cost $47.
Many people move to the United Arab Emirates for jobs in the oil industry and the country is known for its lack of income tax. Over the last 50 years, the nation has moved from being ranked 182 in the world for population size to 93. It continues to climb the ranks each year.
Surveys estimate that half of the expatriates, citizens of other countries living in the United Arab Emirates, consider moving elsewhere because of the high cost of living. They argue that their wages are remaining stagnant while the cost of living continues to rise.
Although the increased cost of living in the United Arab Emirates is a side effect of being one of the wealthiest nations in the world, the country remains a huge contributor to international foreign aid.
Since its establishment, the total international aid provided by the United Arab Emirates’ government and non-government organizations is estimated to total $47.4 billion. This includes a recently strong focus on finding cleaner and more sustainable energy sources, with particular regards to solar power.
As the country continues to flourish, the cost of living in the United Arab Emirates is expected to increase, but private sector companies pay close attention and work to keep wages high enough to counteract inflation.
– Emily Trosclair