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Why is Dubai all set to become the most sought-after city to live in for The Millenials?

Posted by Geeti Bhatt on September 15, 2022

Dubai is a thriving metropolis that whole heartily welcomes expats from all over the world. Starting a new life in Dubai can be one of the most thrilling experiences in one’s life. Residing may be even more intimidating, particularly if you’re young and adjusting to a different culture and lifestyle. For young adults looking to settle down here, this is the ideal city for those who desire stability in their lives and wish to grow exponentially.

One of the main reasons why individuals relocate to Dubai is because companies disburse their employees well. After extensive research, a well-conducted survey published by Gulf News revealed that 70% of firms will be on the lookout for new employees in 2023. As a result, the future appears promising, with plenty of prospects for Millennials wishing to settle in an excellent working environment that looks after them.

Due to the low unemployment rate and the highly regulated environment, crime in Dubai is substantially lower to most countries in the world. When relocating abroad, safety is always the priority, and Dubai is renowned for being among the safest places. Therefore, Dubai is the place that allows you to enjoy a safe and secure living environment that can positively boost your sanity. 

Although the recent economic downturn caused several losses globally, Dubai is one of the few cities that recovered quickly from the worldwide pandemic. Since mid-2021, the city’s economy has grown at about 6.3% annually.

Dubai has set itself in such a way that all new residents will cherish the economic stability, especially when compared to Europe’s slowly declining economy. Dubai’s economic upswing is still expanding, and we can see this with the ever-growing establishments, including infrastructure and medical facilities. In contrast to the GB Pound Sterling and the Euro declines, UAE’s currency is completely pegged to US Dollars, ensuring stability and progression. The city’s economy is unmatched, with predicted annual GDP growth of 5.4% in 2022 and 4.2% in 2023 compared to the European economy, which has an expected increase of only 2.7% in 2022 and 1.5% in 2023. 

There are many benefits for expats who wish to move to Dubai, such as no income taxes, which equates to more significant savings and lower VAT rates at 5% compared to the average VAT in Europe, which is 21%. Furthermore, Dubai is home to several landmarks and attractions that you can easily access with the city’s alluring public transport system that can take you anywhere and everywhere. The captivating metropolis exclusively offers you the best healthcare and education facilities so you can create an incredible journey for your loved ones. 

Dubai also offers excellent warm weather for most of the year. If you wish to escape the cold temperatures of Europe, Dubai would be ideal for this with swimming or other outdoor recreational ventures, along with world-class watersport activities on the city’s sensational beaches. 

Get in touch with one of the professionals at Homes 4 Life Real Estate if you’d like to learn more about the city of dreams with infinite opportunities or to discuss your modern luxury home where you can begin a new life. They would be pleased to help you with every step of the process.

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