Numbeo is also responsible for calculating the cost of living in Sharjah, Dubai, and Abu Dhabi.
What is the average cost of living in Abu Dhabi, Dubai, and Sharjah?
In 2024, the index will highlight the cities that have the highest cost of living.
This is in spite of the fact that rents, the cost of food, and the cost of eating out have all increased.According to data that was issued by Numbeo, a global data provider on economic, social, and safety areas, Abu Dhabi, Dubai, and Sharjah have been rated as more inexpensive than other major cities in Asia, Europe, and the United States.
This is despite the fact that the cost of living has increased over the course of the previous couple of years.The cost of living in the three emirates is significantly lower than the cost of living in Zurich, Geneva, New York, Los Angeles, Oslo, Singapore, London, Adelaide, Sydney, Auckland, Melbourne, Hong Kong, Tel Aviv, Milan, Vienna, Montreal, Frankfurt, and a great number of other cities.
With regard to the most recent cost of living index for the year 2024, Dubai, Abu Dhabi, and Sharjah are listed at 142, 156, and 202, respectively.The statistics provided by Numbeo demonstrated that the cost of living in three different emirates went up for the second year in a row in the year 2023.
Dubai's position in the cost of living index rose from 182 in 2023 to 142 in 2024; Abu Dhabi's rating improved from 266 in 2023 to 156 in 2024; and Sharjah's ranking increased from 319 in 2023 to 202 in 2024. All of these rankings are among the highest in the world.
By the year 2022, Dubai, Abu Dhabi, and Sharjah were rated in the respective positions of 276, 309, and 361.Several factors, including the growth in rents, the cost of groceries, and the expense of dining out, were identified as the primary contributors to the increase.
There has been an increase in the cost of renting in Dubai, Abu Dhabi, and Sharjah.Dubai's position in the rental index increased from 53 in 2023 to 29 in 2024, and the capital of the United Arab Emirates had a rise from 70 to 41.
The pandemic has resulted in an increase in the number of foreign workers entering the United Arab Emirates, which has led to a consistent increase in the cost of renting in the country's major emirates.
Rental prices are rising in Dubai, Abu Dhabi, and Sharjah.
Over the course of the past two years in a row, rents have climbed at a rate that is in the double digits.
Rental rates continued to skyrocket in 2023 as a result of the ever-increasing demand for rental homes in the emirate of Dubai, which ultimately resulted in a significantly altered environment for both landlords and tenants.
As the demand for rental properties reached a fever pitch across the market, the real estate brokerage Allsopp & Allsopp witnessed a 65 percent increase in the number of new rental client registrations, which resulted in a remarkable 147 percent increase in the number of rental viewings recorded.
The cost of living is rising in Dubai, Abu Dhabi, and Sharjah.
The cost of living in Dubai, Abu Dhabi, and Sharjah is increasing at an alarming rate.
In a similar fashion, Dubai, Abu Dhabi, and Sharjah all climbed up in the grocery index as a result of an increase in the cost of consumer products throughout the country.According to the Dubai Statistics Centre, the consumer price index increased from 106.09 points in January 2023 to 110.2 points in December.
Transportation, recreation, sports, and culture; housing and utility services; insurance and financial services; and other sectors were some of the sectors that contributed to this increase.Dubai has been ranked as one of the top 10 cities on the globe for foodies in 2023, according to the findings of a recent survey. From a global perspective, the emirate ranked second in terms of the density of restaurants.