New Year's Eve parties in Dubai costliest in the world

Dubai is one of the most popular destinations in the world for New Year’s Eve, with the tallest tower and other renowned landmarks lighting up the sky at midnight, and nightlife venues pulling out all the stops. However, revellers must prepare to shell out some cash to really enjoy the sights and sounds the city has to offer.

According to a study done by Travelex, people who choose to ring in the New Year in Dubai spend Dh2,240 per person on average, the most expensive among the popular global cities surveyed. The cost covers food, entertainment and refreshments that a partygoer would normally spend at a restaurant in Dubai, and is much pricier than what one would spend in New York, London, Paris or Amsterdam.

The international currency exchange company came up with the list after measuring the average New Year’s Eve spending across selected establishments.

The chunk of the New Year’s Eve spending in Dubai goes to a bottle of bubbly, costing around Dh1,200 per bottle, about three times the price in New York (Dh280) or Sydney (Dh305).

However, New Year’s Eve food in Dubai doesn’t cost as much, about Dh500 per person, cheaper than in London or New York. Night Club entrance fees in the emirate, however, is one of the priciest, at Dh500, more expensive than in New York (Dh280), Paris (Dh220) and London (Dh190).

The average reveller in Dubai is also estimated to spend about Dh40 on a pint of beverage, double the price in New York, Amsterdam and Sydney.

Analysts have attributed Dubai’s cost of living to the high US dollar exchange rate, to which the UAE dirham is pegged.  

In Mercer Middle East’s 2016 Cost of Living study, Dubai emerged as the 21st priciest city, followed by Abu Dhabi in the 25th position.

“The main reason Dubai and Abu Dhabi, and in fact almost all cities in the Middle East [are ranked high] is that their currencies are pegged to the US dollar,” said Rob Thissen, talent mobility consultant at Mercer Middle East.

Cost of a New Year's night out:

1. Dubai (Dh2,240)

2. New York (Dh1,870)

3. London (Dh1,435)

4. Paris (Dh1,170)

5. Amsterdam (Dh955)

6. Sydney (Dh950)

7. Edinburgh (Dh725)

Where the money goes on New Year's Eve in Dubai:

Dh500- Food

Dh1,200- Bottle of bubbly

Dh500 - Night club entrance

Dh40 - Pint of beverage

Source: Travelex