Dubai has been ranked as the most attractive city in the world to work in, beating others such as New York and London, according to an INSEAD alumni survey.
The study surveyed 835 alumni with international working experience on aspects such as economic dynamism (quality of labour, access to funding), quality of life (sports and cultural facilities, air quality), cost of living (real estate, dining and entertainment), and the overall attractiveness of the city (young talent, access to technology).
It found that Dubai topped the list of 15 of the world’s prominent cities for the best place to work, beating New York, Hong Kong, Singapore, London and Paris, and ranked first in economic dynamism, third in overall attractiveness, and fourth in quality of life and cost of living.
Miguel Lobo, associate professor of Decision Sciences and director of INSEAD Campus Abu Dhabi said: “To some it might come as a surprise that Dubai has been ranked as the best place to work globally by the INSEAD Alumni Association, but for INSEAD in the region this is not a revelation.
“Today’s business leaders and key decision-makers recognise the dynamism of this country, which leads many to choose to live, work and actively immerse themselves in the regional business landscape.”
Sam Barnett, CEO of MBC group and president of INSEAD Alumni Association in UAE added: “Not only do we see larger numbers of INSEAD alumni coming to work here each year, but more and more are staying for greater periods of time.
“The excitement of an emerging market and all the perks of an international city make a compelling combination for many people. There are attractive opportunities to build a career with many of the companies that have started here or with the international companies establishing a foothold in the Middle East.”
Dubai has been steadily growing in prominence globally, and earlier this year, was ranked the seventh most influential city in the world, above global cities such as Los Angeles, Beijing and Sydney, in a list published by Forbes magazine.
The list ranked cities based on eight factors including the amount of foreign direct investment they have attracted; the concentration of corporate headquarters; how many particular business niches they dominate; air connectivity (ease of travel to other global cities); strength of producer services; financial services; technology and media power; and racial diversity.
Dubai, which also topped the global ranking for air connectivity, was acknowledged for its growing infrastructure and diversity.
“Its hub location and business-friendly climate have made it a favorite for companies looking to establish a Middle East headquarters or point of presence. As a crossroads of humanity, Dubai is unparalleled among global cities for its diversity: 86 per cent of its residents are foreign born,” Forbes said in its report.
The UAE as a whole has also been acknowledged for its efforts to promote business, and climbed to the 22nd spot on The World Bank’s Doing Business 2015 list, up from 23 last year.
It topped the Middle East region in terms of the ease of conducting business and was also one of the top 10 countries that improved its ranking over the last year.