Many people in Dubai complain about the growing cost of living in Dubai. To understand how this is affecting us, we need to understand which kind of costs are increasing and which are decreasing. By using information from the Dubai statistics center, I will analyze and explain the impact of these costs on Dubai residents.
Below are the sectors which are increasing the fastest in price:
- Miscellaneous goods and services
- Clothing and footwear
In Jan’2017 alone the miscellaneous goods and services went up 17.16%. On average in the first half year the prices went up 14.06% in this sector. This category can include a wide range of things like grooming, consumer goods like electronics, and home delivery. This is the nr.1 source of increase in price, and my suspicion is that a lot of it is impulse spending. So before you order that new smartphone, think twice if you really need it!
On average in the first 6 months transport has increased 8.64% and in March’2017 it went up 14.67%. This includes train, bus, tram tickets and RTA taxis. This is not good news for me. I am an old fashioned public transportation user and this is affecting me quite significantly. Maybe I should start using the bicycle again. The prime minister of the Netherlands does it, so I should be able to follow his example.
Education is up on average with 6.185% this year. The first 3 months of 2017 the prices were up 7.17%. Good news for the kids who think school is a burden, now is the time to find your own path. Clothing and footwear were also up on average with 5.755% this year, however with the number of shopaholics in Dubai, I doubt that will deter anyone.
I also have some good news! Below are the sectors which are decreasing in price:
- Furnishings, household equipment and routine household maintenance
- Recreation and culture
The nr. 1 area that is down is tobacco with 5.03% on average, so your money is not going up in smoke here. However your health eventually will, so do keep that in mind before you stock up on cigarettes.
The nr. 2 area is Recreation and culture, which is my favorite. On average 2.28% down this year, this is a good time to go out to a park, concert or even the Opera!
Furnishings, household equipment and routine household maintenance prices are down this year. This is a good time to furnish your house and outsource your household maintenance, so that you don’t damage your house by accident while fixing it. You will not be saving yourself money.
Communication is steadily taking a dive this year. A smart time to renew your mobile contract or house internet package, there will be good deals to grab. Also, this is the time to call your extended family who you haven’t spoken with for the past years. You can’t use the excuse anymore that it will cost you too much money!
I hope this will help you understand better what is affecting your wallet. If not, then you know where to find me. I will be busy soaking up some recreation and culture in Dubai.
Posted on Sun, September 24, 2017
by Simon Snelder filed under