Dubai attracts people who are willing to splash out on expensive services, it has been found – something that may be welcome news to people with property for sale in Dubai.
The emirate has been found to be the 19th most expensive city in the world, which could potentially draw I wealthy people looking for property investments in Dubai.
A survey of 73 cities by UBS bank found that when it comes to services such as restaurant meals, haircuts, phone charges and cinema tickets, the emirate drew in more money than London and New York.
The institution's Price and Earnings Report showed the average cost of a basket of 27 services amounted to 3,269 dirham (£543.50). This compares to the global average of $503 (£306.30).
Some things are still inexpensive, however.
The study stated: "Services such as taxi journeys are relatively cheap but hotels are also comparably expensive, particularly lower-end hotels."
A series of luxury hotels are set to open in Dubai for those with designer tatses, including the Versace Palazzo and Armani hotels.