According to the latest Mercer survey, Dubai has jumped three places to become the world’s 15th most expensive city for international employees. The primary driver of this surge is the significant increase in property rentals, which have skyrocketed after the pandemic.
Dubai’s Real Estate Boom
The cost of living in the regional financial capital has increased dramatically, with three-bedroom properties recording a 15% year-on-year hike in rents. This is among the highest increases globally, making it challenging for employers to attract and retain top talent.
Global Trends
The Mercer survey, which covered 226 cities across five continents, highlights the growing concern of rising living costs. Volatile inflation trends are eroding the purchasing power of international assignees, adding strain to their compensation packages. This, in turn, can limit talent mobility and increase operational costs.
Regional Rankings
Regionally, Tel Aviv follows Dubai as the 16th most expensive city, followed by Abu Dhabi, Riyadh, Jeddah, Amman, Manama, Kuwait City, Doha, and Muscat. Globally, Hong Kong retains its top spot, followed by Singapore, with Swiss cities Zurich, Geneva, and Basel completing the top five most expensive cities.
Nigerian cities Abuja and Lagos, along with Islamabad, are ranked as the least expensive cities for international employees.
Remember to stay up to date with the latest news and trends on our blog, JobXDubai!
JobXDubai 
Leave a comment