Dubai's rising cost of living invites millionaires, driving out expats

  • 05/04/2023

UAE: Billionaires have bought villas in Dubai and the city filled with bankers and executives and crypto millionaires as many residents departed due to a significant rise in living and business expenses. Many expats left in the wake of pandemic job losses. 

Officials claim that price increases are less pronounced than elsewhere because high inflation globally reduces purchasing power. They contend that Dubai still provides the opportunities and jobs that are hard to come by in other developed and developing cities in the West. 

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