You might have already guessed it or at least had an inkling that Dubai is expensive. Well, it recently ranked eight in a list of the world’s most expensive cities for companies to accomodate staff according to Savills Live-Work Index. But the good news? It’s half the price of New York.

The list basically compares total housing and office rent costs around the world and it showed that costs in Dubai were less than half that of costs in New York – which is judged as the most expensive.

“Office-based businesses operating in major world cities will spend around one-third of their total operating costs on accommodation through a combination of commercial rents, paid directly to landlords, and demands on salaries created by the cost of employees’ living accommodation. Fluctuations in these costs will, therefore, have a significant bearing on how competitive a city is to employers.”

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Yolande Barnes, director, Savills world research

In short, the study has recently found that Dubai’s total annual cost per employee stands at $53,913. This is a decrease of seven percent since December. Included in the costs are those of living and accommodation.

In comparison to other cities, this is less than half the amount of New York which stands at $114,009,  Hong Kong which is at $100,984 and London which stands at $100,141.