Expats heading towards Dubai and the United Arab Emirates are mostly moving here for the purpose of saving money to have a better future by investing elsewhere from a tax-free income. More than half of expats in Dubai moved here with the hopes of more savings, a new life and opportunities.
Since there’s no income-tax imposed on individuals, the salaries are more rewarding to everyone. In fact, the salary in Dubai is considerably higher than that you may have in your home country, plus there’s no income-tax. Your salary is completely tax-free earning, that is, you don’t have to pay anything to the UAE government in the name of Income-Tax. But, the cost of living is considerably higher in Dubai which most of the expats don’t realise when considering moving to Dubai. Also, if you earn more than you’ll spend more, no one deny this fact.
If you’re serious about savings, there are many ways to save money. You can save by cooking at home, reducing your shopping, using public transport for going out and coming back, etc.
However, it doesn’t matter how you’re hard working, you’ll certainly be melted in the Dubai lifestyle that will hit hard your wallet.
How your wallet will be eaten up?
Dubai has world famous shopping malls
If you live in Dubai with your family that love shoppings, then you’ll have to lose your wallet since Dubai is one of the world’s largest shopping destinations. Malls in Dubai are not only for shoppings, there are huge entertainment areas, underwater Zoo, deep sea experience, snow fallings theme park, etc. So, get ready to spend more money than you think. Additionally, Dubai is the city where tourists spend more money than anywhere in the world.
Fine dining in Dubai
Although there’s availability of cheap foods in old Dubai districts such as Deira and Bur Dubai. There are wallet eating luxurious dinings too, where you have to spend more than you think to spend. Perhaps, you have a hygiene concern, so, you’re not choosing cheap foods option. In this case, if you cook your foods at home you can save money, but you and your partner don’t know the cooking then you can consider hiring a cook at home. It’ll save more money then you’ll have to spend at luxurious dinings.
Amazing Attractions and Weekend Leisure
When you have week-off from work, if you go out each week for weekend leisure, it’ll eat away your bank account. There are so many amazing attractions in the UAE such as Desert Safaris, Yas Marina Circuit, Ferrari World, Emirates Park Zoo, Scuba Diving, Sky Diving, Car Race Driving, Burj Khalifa, Dubai Aquarium & Underwater Zoo, SkiDubai, Festival City, Dubai Malls, Mall of the Emirates, etc. All these attractions cost money. Hence, you can’t save money.
Or, if you do enjoy a party with your friends each weekend, it’ll also eat your money. You can’t save thereafter. So, in order to save money, you can skip going out in every weekend. You can keep them once in three months or if you have special occasions with your family or relatives.
The migrant labour workforce working in Dubai saves around 80% of their earning in the United Arab Emirates although they’re earning on daily wages. They do not use the expensive attractions. They’re only concerned about their family and their needs. Also, the majority of the labour workforce returns home-country with a company provided air-ticket, they live in company accommodation, etc.
Takeoff for the home-country
Taking flights quarterly will also eat your bank account if you love to back home-country at every occasion. But, it’s always nice to see home, family, relatives and friends although it’ll be cost effective for you to take flights frequently.
Love to explore other destinations?
If you’re earning more money than your home-country, you’ll consider exploring other destinations such as Europe, Turkey, Thailand, Singapore, Jordan, Egypt, etc.
Dubai is the major transit point for a lot of airlines, so, you’ll love exploring other destinations of the planet after a few visit.
The Apartment Rent
The rent is the crucial point of your cost of living in Dubai. Rent is considered expensive in Dubai and Abu Dhabi, if you look around the best area, it’ll cost you more money.
READ MORE: The cost of living in Dubai