This is certainly good news for A. People who live in the Emirates and B. Companies that have to bring people from around the world to work in the Emirates.
Mercer, a consulting firm, says in its 2010 Cost of Livings index that both Dubai and Abu Dhabi have dropped by more than two dozen places.
Dubai is now tied for the 55th position with Los Angeles, down from its 2009 ranking of 20th most expensive city in the world. Abu Dhabi dropped to 50th from 26th last year.
"While
across the UAE the cost of living has remained relatively stable, we
are seeing that accommodation costs have continued to decrease in Abu
Dhabi and Dubai, driving down the cost of living for expats," said
Markus Wiesner, the head of the Dubai office of Mercer.
Luanda,
the capital of Angola, remained as the world's most expensive city,
followed by Tokyo, Japan, and Ndjamena, in Chad. Luanda is three times
as expensive as Karachi, Pakistan.
In the quality of living
survey, Dubai ranked as 75th best city in the world, compared to 77th
in the 2010 survey. Abu Dhabi dropped to 83rd best city to live in from
72nd in 2009.