Known as the Manhattan of the Middle East, Dubai offers an exciting change of pace, culture, and lifestyle to British expats, especially those looking for new work or study opportunities. However, this vibrant city is notoriously expensive, so it’s important to pay special attention to the cost of living.  

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The Currency in Dubai 

The currency in Dubai is the Dirham (د.إ in Arabic, Dh in Roman alphabet). The international currency code is AED, which is how you will find it displayed at Moneycorp. In 1978, the Dirham was officially pegged to the IMF’s special drawing rights. However, in practice, the currency is usually pegged to the U.S. Dollar. One Dirham is subdivided into 100 fils. Banknotes are available in denominations of AED 5, 10, 20, 50, 100, 200, 500, and 1,000, and coins are available in denominations of 25 fils, 50 fils and AED 1. £1 is worth AED 4.35 at 11.39am on 7 March 2023. 

Where to Live in Dubai 

Dubai’s layout means you should think about whether you would prefer to live in an apartment or in a villa. The prices of the two different types of accommodation can vary considerably, which can affect the way you experience the average cost of living in Dubai. The most popular areas in the city for renting apartments include the bustling Dubai Marina, upmarket Downtown Dubai, the manmade island Palm Jumeirah, and Jumeirah Beach Residence. Most expats who prefer renting villas stay in neighbourhoods such as Umm Suqeim, the gated community of Arabian Ranches, Reem, Palm Jumeirah, and Jumeirah Park. According to the 2022 Mercer Cost of Living Survey, Dubai is the world’s 31st most expensive city. 

How Much Does Accommodation Cost in Dubai? 

The price of accommodation, whether you’re looking to rent or buy property, definitely contributes to the relatively high cost of living in Dubai. For example, rent prices for one-bedroom apartments in the city centre can be as much as 45.1% higher than in the UK. The table below shows average prices of various types of accommodation in the capital of the Emirate of Dubai. 

All figures were taken from Numbeo and exchange rates were calculated at 11.39am on 7 March 2023. 

How Much Does Transport Cost in Dubai? 

The cost of transport in Dubai can be cheaper than in the UK. While monthly transport passes in this Middle Eastern city are more expensive than in the UK, the cost of single-journey tickets, petrol, and new vehicles generally tends to be lower. The table below offers an idea of how much you can expect to pay for transportation in Dubai. 

The Cost of Living in Dubai for International Students 

The cost of living in Dubai for students varies depending on choice of accommodation and lifestyle habits. With regard to tuition fees, you can expect to pay between £4459.12 and £24658.92 per year. Fees are usually calculated based on each programme’s total number of credit hours. 

Tuition aside, accommodation will be your biggest expense. Popular student accommodation options include university housing with prices and facilities that vary from institution to institution and renting a flat. University housing can cost anything between £503.88 and £1756.89 per semester. Renting a flat can cost between £651.03 and £1783.65 per month, with utilities costing between £133.77 and £205.12 per month. You can expect to pay between £164.99 and £267.55 for food and groceries. Budget between £44.59 and £107.02 per month for entertainment such as the cinema, concerts, and sports events. Private medical insurance costs approximately £89.18 per month. 

What is the Cost of Living in Dubai Compared to the UK? 

The cost of living in Dubai compared to the UK is higher for the most part. While there are a few exceptions, such as school fees, you can expect to pay more for food, groceries, entertainment, health and fitness, and various other offerings and services in Dubai.  

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Dubai has come a long way in a relatively short time, and this sense of expansion, the hyper-modern lifestyle, and everything being bigger, better, faster, more pervades the city, even while much of the culture remains traditional. As a result, the capital of the Dubai Emirate is an exciting and fascinating place in which to work or study. If you decide move to the Middle East’s Manhattan, you will need to send money to Dubai. Sign up for a personal account with Moneycorp and send money abroad conveniently, safely, and at competitive rates.