Huge spike in the Mercer annual index. Dubai now 25 on the list. More expensive now than any U.S. city except N.Y (10). By comparison, L.A. (29) and S.F. (34) are cheaper places to live. Keep this in mind if you are planning on coming on the EK package currently offered.
FYI.
Dubai ranks 25th among world's expensive metros
http://archive.gulfnews.com/business.../10049780.html
06/27/2006 09:17 PM | By Zoi Constantine, Staff Reporter
Dubai: Confirming what many residents have long suspected, a worldwide survey has placed Dubai among the top 25 most expensive cities, jumping almost 50 places from last year.
According to the annual Mercer Human Resource Consulting Cost of Living Survey, the emirate broke into the top-most expensive cities, tying for the 25th spot with Helsinki in Finland.
However, the survey also indicated that Dubai is still cheaper than some less-developed cities including Beijing (14th), Istanbul (15th), and Shanghai (20th). Abu Dhabi was ranked 30th, up from 64 last year; while Beirut was 32.
The survey ranks 144 countries, measuring the comparative cost of more than 200 indicators including housing, food and transportation.
It should be noted though, that the survey reflects the cost of living for people living a "Western-style" lifestyle in the cities ranked.
According to Dubai-based investment advisor, Dr. Khalid Maniar, Dubai's ranking does not come as a surprise. "If the earning potential of the city mirrors the increase in the cost of living, then the new ranking would be fine," he told Gulf News. "However this does not seem to be the case."
Benefits
"There are some who are definitely benefiting from the current climate, but there are segments of society who are obviously facing hardships. The average person's earning potential does not appear to have increased accordingly and this concerns me."
The rise in Dubai's ranking can be attributed primarily to the booming real estate sector, which has resulted in a knock-on effect for other sectors raising the cost of living, said Dr. Maniar, who also indicated that he expected Dubai's ranking to continue to rise.
"I think it will continue to rise perhaps not at same pace - but in the next couple of years we could see Dubai jump another 10 places up the ranking," said Dr. Maniar.
Others
But, if you think Dubai is expensive, try living in the former Communist capital and world's current most expensive city Moscow. The Russian capital jumped from fourth to first place, outranking Seoul, Tokyo, Hong Kong and London, which rounded out the top five.
Seoul is named as the most expensive city in Asia and London as the second most expensive city in Europe, after Moscow.
Meanwhile, New York (10th) remains the most expensive city in North America, ranking number ten in the world.
Dubai, however, did not make the top-50 in the Mercer survey on quality of living, which named Switzerland as the best place to live. Zurich and Geneva ranked as the top two cities.
CLIMBING UP
Emirate improves position
March '06 City March '05
1 MOSCOW 4
2 SEOUL 5
3 TOKYO 1
4 HONG KONG 9
5 LONDON 3
6 OSAKA 2
7 GENEVA 6
8 COPENHAGEN 8
9 ZURICH 7
10 OSLO 10
10 NEW YORK CITY 13
12 ST.PETERSBURG 15
13 MILAN 11
14 BEIJING 19
15 ISTANBUL 22
15 PARIS 12
17 SINGAPORE 34
18 DUBLIN 13
19 SYDNEY 20
20 SHANGHAI 30
21 ROME 17
21 KIEV 54
21 VIENNA 16
24 TEL AVIV 39
25 HELSINKI 20
25 DUBAI 73
27 DOUALA 22
28 TAIPEI 29
29 LOS ANGELES 44
30 ABU DHABI 64
31 LAGOS 96
32 BEIRUT 52
32 HANOI 50
34 SAO PAULO 19
34 SAN FRANCISCO 50
36 STOCKHOLM 18
37 HO CHI MINH CITY 56
38 CHICAGO 52
39 MIAMI 57
40 RIO DE JANEIRO1 24
41 LUSAKA1 23
41 AMSTERDAM 24
43 WHITE PLAINS 45
44 SHENZHEN 63
45 ABIDJAN 26
45 DAKAR 36
47 TORONTO 82
48 JAKARTA 71
48 BRATISLAVA 31
50 PRAGUE 28
Source: Mercer Gulf News