Article

Dubai Ranks Among the World's Top 5 Cities in 2021: A Closer Look at What Makes It Shine

News

19 Dec, 2024

Dubai Ranks Among the World's Top 5 Cities in 2021: A Closer Look at What Makes It Shine

Evaluation Criteria of the World's Best Cities Report

Dubai clinched the fifth spot in the 2021 World's Best Cities Report by Resonance Consultancy, which assessed major cities with populations exceeding one million. The assessment encompassed several vital criteria:

Human Resources: Evaluating immigration patterns and population diversity.

Leisure: Considering the availability of restaurants, cultural venues, and entertainment options.

Urban Development and Nature: Assessing safety, climate, and urban planning.

Employment Opportunities: Focusing on the job market within the city.

Infrastructure: Including airport accessibility.

Online Popularity: Gauging online visibility, recommendations, and reviews across search engines and social media.

Furthermore, the report factored in the influence of the COVID-19 pandemic on urban development. The top positions were secured by London (1st), followed by Paris, New York, and Moscow. Dubai, despite hosting the highest percentage of foreigners among all cities globally, claimed the fifth spot due to its status as the world's safest city and its continuous expansion, boasting numerous new 5-star hotels and attractions like the Madame Tussauds Wax Museum.

Evaluation criteria of the World's Best Cities Report.jpg

Dubai's Captivating Landmarks

Dubai's skyline is graced by several iconic landmarks that leave a lasting impression:

Deep Dive Dubai: The world's deepest diving pool, opened in July 2021, plunges to a depth of 197 feet and features an enchanting "sunken city" for underwater exploration.

Burj Khalifa: Standing at a staggering 2,716 feet, the Burj Khalifa reigns as the world's tallest tower, housing 57 elevators and owned by Emaar Properties.

Float Dubai: Located aboard the retired Queen Elizabeth II cruise ship, Float Dubai is the world's largest waterfront nightclub, designed for up to 1,000 patrons and offering a delectable menu of Latin and Pan-Asian cuisine.

The Dubai Mall: A retail paradise, this mall ranks as the world's most visited shopping destination, hosting over 200 luxury brands and captivating attractions such as the Dubai Aquarium & Underwater Zoo, Kidzania, Dubai Ice Rink, and more.

Dubai Creek Tower: Currently under construction, this tower in Dubai Creek Harbour is set to surpass the Burj Khalifa as the tallest in the world. With an estimated height of 3,045 feet and a price tag of AED 3.6 billion (USD 1 billion), it will include a hotel, covered garden, 10 observation decks, and restaurants.

Ain Dubai Ferris Wheel: Opened in October 2021 on Bluewaters Island, this 688-foot-tall Ferris wheel is the world's highest and largest of its kind.

Madame Tussauds Wax Museum: Opened in October 2021, this museum on Bluewaters Island features seven themed halls showcasing wax figures of over 60 global superstars.

Economic Prosperity in Dubai

Dubai's government reported record economic growth of 3.1% in 2021, driven by effective pandemic response, mass vaccination campaigns, and adaptability to change. These measures led to border openings, an influx of tourists, and a stronger economy. In 2022, economic growth is expected to reach 3.4%, buoyed by the hosting of EXPO 2020.

To attract local and foreign investments, Dubai introduced amendments, including reducing the property price threshold for a 3-year residency visa from AED 1 million to AED 750,000. Five stimulus packages costing AED 7.1 billion (USD 1.9 billion) were launched from March 2020 to September 2021, offering support measures such as reduced customs duties and deferred rent payments.

Dubai's financial activities recorded a 3.5% growth rate in Q1 2021, while the entire UAE's GDP growth reached 1.9% in the same period. The real estate sector showed promise in 2021, with a 2.4% growth rate in Q1, accompanied by the highest number of real estate transactions since 2009 in Q3.

Thriving Business Environment

Dubai has witnessed a surge in new business establishments, with approximately 16,000 new firms founded in the first eight months of 2021, reflecting a 68.5% increase compared to 2020. Events like EXPO 2020 and the "Projects of the 50" strategy are poised to further bolster Dubai's economic growth. The "Projects of the 50" initiative encompasses various economic and developmental projects, spanning technology, advanced skills, space, entrepreneurship, and digital economy, strengthening the nation's economy.

Dubai offers a well-developed financing and business support ecosystem, allowing 100% foreign ownership of companies. Free economic zones provide favorable conditions for startups, and the Dubai Start-Up Hub offers extensive support for technology and business startups. Stringent intellectual property protections enhance confidence in business projects.

Government-led initiatives have reduced fees, postponed payments, and waived duties in various sectors, including real estate, contributing to Dubai's thriving business environment.

Safety in Dubai

Dubai stands out as the safest city in the Middle East, according to the 2021 Safe Cities Index by the Economist Intelligence Unit, ranking 35th globally with a score of 64.6. The index considers factors such as pandemic response and environmental security. Dubai employs advanced technologies, including drones for street disinfection and smart cameras numbering 300,000, enhancing security.

The city has implemented programs to reduce police response times using drone technology, with drones capable of high-resolution video for face identification. Specialized transportation aids COVID-19 patients, and robust safety measures are in place to safeguard residents.

Technological Advancement

Dubai is at the forefront of innovation and technology, promoting startups and incubators. It leads the world in foreign direct investments (FDI) and aims to become a global leader in 3D printing, particularly in medicine, construction, and consumer goods.

The Smart Dubai initiative aims to transform urban life comprehensively, fostering a smart city for the future. Various projects, like Dubai Data Strategy, Dubai Pulse Platform, Dubai 10X, and Dubai Blockchain Strategy, drive technological innovation. The government has saved USD 1.2 billion over 13 years through unified infrastructure and joint intellectual services.

Dubai's commitment to innovation positions it as a thriving global hub for technological advancement. As it continues to evolve and embrace new technologies, Dubai is set to remain a beacon of progress and prosperity on the world