Dubai has become a leading destination for experienced remote workforce, especially since the pandemic hit.
A recent study conducted by real estate firm, Savills Plc, evaluated 20 prime residential markets based on their attractiveness to remote workers looking for a long-term setup.
Dubai’s rapidly developing fintech and financial services sectors have attracted many experienced hybrid workers. This is especially important for those who have been affected by the job cuts in the tech industry, which have seen over 200,000 jobs lost this year.
Swapnil Pillai, a Middle East researcher at Savills, said that many people have been laid off from global tech companies, and are now considering Dubai as a strategic base to contribute to the thriving sectors there.
The pandemic has caused a shift to hybrid work models, prompting executives to seek out new locations to establish their work base. Coastal cities with convenient airports and warm climates have proven to be particularly appealing.
A separate study by consultancy AWA, which looked at 22 countries, found that employees are currently only going into the office an average of 1.75 days per week. As a result, 37% of employers are planning to downsize their office space.
As rental rates in popular digital nomad hubs continue to rise, the affordability of prime rental properties has become a key consideration when deciding where to relocate. Lisbon, which topped the rankings last year, has fallen to fifth place due to rising rents.
A noteworthy new entry into the rankings is Malaga, which secured the second spot right after Dubai. This Spanish city saw Google establish a presence earlier this year, further indicating its growing appeal to remote workers.
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