Dubai's expats face a reality check

The News

Dubai’s once-idyllic expat manner has go unattainable for galore arsenic costs emergence and salaries stagnate.

An influx of much than 400,000 expats since the pandemic has made the labour marketplace much competitive, dragging down salaries and benefits adjacent for apical jobs, according to Bloomberg. Employers don’t expect to connection UAE workers a wage bump this year.

Rents for villas person astir doubled, portion flat prices person risen 66%, according to existent property consultancy JLL, forcing galore to see commuting from neighboring Sharjah oregon adjacent Ras Al Khaimah, 120 kilometers away. Dubai is present the Middle East’s astir costly metropolis for planetary employees, ranking 15th globally, according to consultancy Mercer.

The dream, however, is inactive live for the rich. Around 800 millionaires near Britain for the UAE past year, drawn by low taxes and luxury lifestyles, portion important numbers of affluent Germans are besides considering the move. Real property developers are struggling to conscionable request for high-end homes, with $100 cardinal listings connected the rise.