Dubai: Dubai features this year as the only Middle-Eastern city in PwC's Cities of Opportunity report, ranking 16th overall in the latest study that takes the pulse of 30 cities at the heart of the world's economy and culture.
Dubai ranked fifth in global affordability, that measures cost of living, purchasing power and corporate tax rates, behind only San Francisco, Los Angeles, Johannesburg and Toronto. Dubai was also ranked 8th as an urban gateway, replacing Los Angeles in the Top 10, supported by the efficiency of its airport connections to central business districts for which it ranked 1st globally.
Cities of Opportunity 6 analyses the development of 30 global cities, and through their performance seeks to add insight on the policies and actions that make cities function best. Dubai's greatest advantage is cost-effectiveness, offering better value than most developed or emerging cities and ranking 5th as the world's most affordable city, for instance the city ranks top for lowest corporate tax-rate globally, finishes 10th in cost of living and is 17th in the cost of business occupancy.
Cities of Opportunities 6 highlights the remarkable progress Dubai has seen over the last few years, in its efforts to position itself as a global gateway and an easy place to do business. The combination of its low corporate tax rates, the proximity of its airports to business, its cost of living and quality of life mean that Dubai continues its ascent into the world's top cities, said Hazem Galal, Middle East Partner and Global leader of PwC's Cities and Local Government team.
Dubai's weakest performance is in sustainability and the natural environment, ranking last out of our 30 cities. 'dubai obviously has to contend with an extreme climate which creates a heavy reliance on air conditioning and desalinated water. However, since 2006 when sustainability was an omission in many government visions, Dubai has taken great steps to make it a central part of its policy and planning, said Gus Schellekens, PwC's Middle East Sustainability Leader.
In the global findings, according to the report, London, the only city to finish first in three of the 10 indicators economic clout, city gateway and technology readiness, a category it ties with Seoul posts the highest score for the first time, with New York coming in second.
In addition, London finishes a narrow second to Paris in intellectual capital and innovation and a narrow second to Sydney in demographics and livability, both key areas for future urban prosperity.