Living expenses in Dubai Abu Dhabi UAE
If you are planning on working and living in Dubai, Abu Dhabi, then few you need to ask yourself a fundamental question:
What are the living expenses in Dubai Abu Dhabi UAE?
The MOL(Ministry of Labour) and other government departments have brought several rules to define the minimum wages for particular category of employees. However, it largely depends on the companies to implement these rules. For example, recently the Government announced that the minimum wage for Graduate degree holder has to be AED 12,000. But I do not know how the companies have interpreted these rules. Do the background study prior to hunting for a job because both Dubai and Abu Dhabi are ranked among top 20 expensive cities in the world to live in, although Dubai has slipped few places in the current year.
Coming back to my point on living expenses in UAE, you must consider the below points:
Accommodation would take a huge chunk out of your salary. It is good to know whether the company hiring you will be providing you with accommodation as there are many companies providing accommodation to its staff. If that is the case you are in luck. Don’t be disheartened as there are plenty of options these days.
If you are looking for a standard flat in Bur Dubai or Deira, the rents these days for a single bedroom apartment might be around AED35K to 45K. This might vary.
If you are looking for places like Dubai Marina or Jumeirah, consider the rent for a single bedroom to be around 50k to 65K. You should do your own extensive study in any case.
On the other hand, Abu Dhabi has the highest rents in the UAE with prices reaching almost double as much in Dubai. I have no exact figures, but they are definitely higher than that of Dubai.
With the introduction of Dubai Metro, the days of waiting for a taxi or buses is over although they complement well to the Dubai Metro. In Abu Dhabi the Government has introduced Taxi Company which few years earlier were run by the ubiquitous Pathans. In any case having a personal vehicle would solve a lot of travel woes. Traffic conditions have drastically reduced in the current times as compared with that in the year 2007-08. A metro ride would set you off with AED 4.10 which is the minimum economic fare. Taxis have become expensive as the minimum pay out is AED 10 on Dubai taxis. Buses are economical with starting fare at AED 2.
UAE has one of the largest numbers of food joints in the world. With shopping malls bustling with people, there are enough avenues to have a variety of food. Plus there are these cafeterias which serve you with decent meals, tea and coffee. Therefore I do not see any difficulty for anyone when it comes to food. Food prices are also economical with government control on the prices food items.
Well, these are the main areas where majority of your income would be spent. For me, I spend 35% of the income on accommodation, 20% on Transportation (includes my car loan, Fuel, Maintenance and Insurance), 10% on Food, 10% on Clothing. I manage to save atleast 25%. My goal is to increase this savings figure to 40% in the coming 2 years.
Hope these points help.