Dubai has set one more global record: it has emerged among the top five most affordable cities globally for expat housing, according to the latest ranking list.
The Norwegian capital city Oslo, the German capital Berlin, the Spanish city of Barcelona and Lisbon are the other cities among the most affordable cities for expats, with the Portuguese capital topping the list, according to the new ranking by Colife, a global rental service.
The ranking is based on several factors, such as changes in the real estate markets of cities with an attractive business environment for expats.
Extensive global studies such as the Ease of Doing Business Index by the World Bank, the Global Startup Ecosystem Index Report by StartupBlink, world’s most comprehensive startup ecosystem map and research center, and the Worldwide Work-Life Balance Index by Forbes Advisor are the other factors considered for the ranking.
The ranking assumes added significance in the backdrop of a surge in digital nomadism – the trend of remote workers who travel and work simultaneously, visiting locations worldwide, and working from beaches, coffee shops, and co-working spaces.
A recent study by Instant Offices estimated that more than 35 million people worldwide are now working remotely and travelling the globe, and the rising trend started to influence the policies and decision-making of companies and governments, with countries like the UAE offering special long-term residency visa programmes, amending migration laws, and expanding their product/service offerings to attract more people.
