Dubai declared world’s leading destination for ‘executive nomads’
Dubai’s status as one of the world’s most liveable cities, combined with its reputation as a leading global business hub, has seen it named the top destination on the planet for executive nomads in a new report published by Savills.
The report, which ranks the world’s 20 most desirable destinations for high-ranking executives who can work remotely, praised Dubai’s high living standards, luxury lifestyle and ultra-modern infrastructure in declaring it the top destination among 20 major cities surveyed.
Each destination was judged based on its respective connectivity, climate, prime residential rental market and quality of life.
“The executive nomad is by no means a homogenous breed, but they share the trait of having reassessed their priorities since the pandemic and found the answer lies in easy-to-access locations that offer an attractive climate, quality of life and super-fast Wi-Fi. Connectivity, both physical and digital, is essential,” Savills notes.
“The availability and affordability of prime rental property is also key. Testament to the popularity of these destinations are rising rental costs; in Dubai prime residential rents grew by 5.4% in the first half of 2023. In Lisbon they rose by 13.9% over the same period.”
Dubai’s digital push pays dividends
In claiming top spot, Dubai surpassed leading expat destinations including Miami, Barcelona and Abu Dhabi. While Savills noted the relative attributes of these and other destinations including Malaga, which ranked second on the list, it found Dubai ranked first “precipitated by its drive to become a leading digital economy”.
“With exceptional digital and physical connectivity – the latter offered by its Dubai airport hub – it also scores highly for quality of life,” the report states.
Savills noted that Dubai’s fast-growing fintech and financial services sectors – along with a tax-free environment and high quality of life – “are proving powerful magnets for executive nomads seeking a new challenge”.
“Many have been impacted by layoffs across global tech firms,” explains Swapnil Pillai, Savills Middle East associate director of research. “They are exploring the city as a base to support these thriving sectors.”
Pillai describes the majority of these executive nomads as high-flying couples who prefer to live in prestigious precincts such as Dubai Marina, which affords them convenient access to renowned innovation hubs Dubai Media City and Internet City.
“Most of the city’s co-working spaces are operating at near 100% occupancy, which supports Dubai’s ranking as a top destination for executive nomads,” Pillai says.
Demand for co-working spaces booms
This finding is backed up by Knight Frank data which shows that demand for premium office space surged by 23% in the first half of 2023. NEST Business Centre, a leading co-working facility that is owned by The First Group and is located in the popular precinct of Dubai Sports City, also reported a 97% average occupancy rate during the same period.
Savills notes Dubai’s geographic proximity to major markets in Europe, Asia and Africa as being highly advantageous, as is the quality of the city’s transport and digital infrastructure.
“Dubai also scores highly on both types of connectivity,” the report states. “Dubai International [Airport] is now the world’s busiest for international passenger traffic.
“Meanwhile, Dubai’s investment in its digital infrastructure – with the UAE now home to the fastest mobile internet speeds in the world – has pushed the Emirate into our top spot for executive nomads.”
Dubai makes it easy for executive nomads to live and work remotely in the city, thanks to its Virtual Working Visa, which allows professionals to relocate to the emirate for a period of up to 12 months.