Dubai named global ‘City of Opportunity’

Dubai ranks fifth in global affordability that measures cost of living, purchasing power and corporate tax rates. — AFP
Dubai has been named a global “City of Opportunity”  by PwC, which also ranked the emirate the world’s first for lowest total tax rate, construction activity and airport access.
As the only Middle Eastern city in PwC’s “Cities of Opportunity” report, Dubai has been positioned 16th overall in the latest study that takes the pulse of 30 cities at the heart of the world’s economy and culture.
Dubai ranked fifth in global affordability that measures cost of living, purchasing power and corporate tax rates, behind only San Francisco, Los Angeles, Johannesburg and Toronto, PwC said in a statement.
Dubai was also ranked seventh as an urban gateway, replacing Los Angeles in the Top 10, bolstered by the efficiency of its airport connections to central business districts for which it ranked 1st globally.
Dubai fared well in other categories as well: ranked second for working age population; fourth lowest crime rates; fourth for attracting Foreign Direct Investment; seventh for rate of real GDP growth; eighth for internet access in school; and 12th for its healthcare system, outscoring all US cities.
However, Dubai ranked 30th (last of out the cities studied) for its sustainability and natural resources which looks at elements such as the proportion of a city’s land area designated as public recreational and green space, and the percentage of recycled waste.
Cities of Opportunity analyses the development of 30 global cities, and through their performance seeks to add insight on the policies and actions that make cities function best. Dubai’s greatest advantage is cost-effectiveness, offering better value than most developed or emerging cities and ranking fifth as the world’s most affordable city.
Hazem Galal, Middle East Partner and Global leader of PwC’s Cities and Local Government team,  said the report highlighted the remarkable progress Dubai has seen over the last few years, in its efforts to position itself as a global gateway and an easy place to do business.