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Dubai leaps to world’s 7th most expensive city for luxury living, overtaking Paris, Zurich

The UAE finance hub made the top 10 list for the first time in Julius Baer’s global wealth index published Tuesday.
Boats are anchored in the Dubai Creek surrounded by high-rise buildings in the Gult emirate, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

DUBAI — Dubai leapt to seventh place in a ranking of the most expensive cities for high-class living, overtaking Paris (13th place) and Zurich (14th place) this year, according to a report released Tuesday by Swiss banking corporation Julius Baer. 

Dubai was the only Arab city that made the list of 25 cities assessed by the fourth edition of Julius Baer’s Global Wealth and Lifestyle Report 2023. 

For the first time in the report’s history, the Europe and Middle East and Africa (EMEA) region was classified as the most affordable region in which to live well. European cities in particular dropped in the rankings.

What happened: Dubai ranked as the seventh most expensive city to live in and made the top 10 for the very first time in Julius Baer’s latest index. 

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