Global real estate advisory firm Knight Frank released its Global lifestyle Review, which assesses the most important lifestyle elements that individuals consider when relocating their businesses and families overseas. Factors ranged from cost of transport and distance to airport to number of Michelin star restaurants and cost of beverages in five-star hotels.
Hong Kong and London lead the way in terms of importance to entrepreneurs, followed by Vancouver. Dubai placed fourth, along with Geneva, Sydney and Vienna.
Dana Salbak, Associate Partner and Head of Research at Knight Frank, elaborated further, saying: “Businesses and young entrepreneurs are focused on the ease of doing business, political safety and security, availability of high-quality formal entertainment such as fine dining, all of which Dubai offers, so it’s natural to see clients motivated and drawn to the city.
“This is of course in addition to the tax-free environment and wide spread of free-zones which facilitates business and trading activities.”
Dubai also ranked fifth with families, following Luxembourg, Vienna, Hong Kong and Geneva.
To this regard Dana added: “Dubai caters to nearly all family priorities so it comes as no surprise that it’s highly favourable. It provides good international-grade education systems, creates communities for like-minded people to interact (such as Al Serkal Avenue for arts and culture), and offers a variety of family-friendly activities, most of which can be enjoyed with 365 days of sunshine. This is in addition to personal security and safety.”