Dubai has been ranked 40th in a list of the world’s most expensive cities, sitting just ahead of Hong Kong in a table led by Oslo, Copenhagen and London.
Swiss banking firm UBS carried out prices and earnings surveys in 71 cities to compile a comparison of purchasing power around the globe.
The top three were closely followed by Dublin, which jumped up the table from 13th place in 2005, Zurich and Stockholm, with Helsinki, Geneva, Paris and Vienna completing the top ten.
New York was listed 18th, with London in 26th position. Manama in Bahrain, the only other Gulf state listed, ranked 55th.
The list was based on the cost of a weighted shopping basket “geared to Western European consumer habits” containing 122 goods and services.
Dubai, however, ranked 34th when rents were taken into consideration, with London top of the table.
Dubai was also listed 34th for wage levels, based on wage figures, social security contributions and working hours across 14 ‘widespread’ professions.
The city, “recreating itself as a new financial centre, and with the large United Arab Emirates oil reserves, offers one of the lowest tax and social contribution rates in our rankings,” the report said. Manama was ranked 44th.
Residents in Copenhagen, Oslo and Zurich take home the most cash, with workers in Zurich, Geneva, Dublin and Luxembourg having the most to spend for the hours they work. An hour’s labour in Dublin delivers almost 28% more purchasing power than one in Amsterdam, the report found.
Dubai was marked 26th for purchasing power, listed above Seoul and Prague and below Taipei. Manama came in at 42nd, slightly below Singapore and above Buenos Aires. Source
Swiss banking firm UBS carried out prices and earnings surveys in 71 cities to compile a comparison of purchasing power around the globe.
The top three were closely followed by Dublin, which jumped up the table from 13th place in 2005, Zurich and Stockholm, with Helsinki, Geneva, Paris and Vienna completing the top ten.
New York was listed 18th, with London in 26th position. Manama in Bahrain, the only other Gulf state listed, ranked 55th.
The list was based on the cost of a weighted shopping basket “geared to Western European consumer habits” containing 122 goods and services.
Dubai, however, ranked 34th when rents were taken into consideration, with London top of the table.
Dubai was also listed 34th for wage levels, based on wage figures, social security contributions and working hours across 14 ‘widespread’ professions.
The city, “recreating itself as a new financial centre, and with the large United Arab Emirates oil reserves, offers one of the lowest tax and social contribution rates in our rankings,” the report said. Manama was ranked 44th.
Residents in Copenhagen, Oslo and Zurich take home the most cash, with workers in Zurich, Geneva, Dublin and Luxembourg having the most to spend for the hours they work. An hour’s labour in Dublin delivers almost 28% more purchasing power than one in Amsterdam, the report found.
Dubai was marked 26th for purchasing power, listed above Seoul and Prague and below Taipei. Manama came in at 42nd, slightly below Singapore and above Buenos Aires. Source
No comments:
Post a Comment