Dubai has been ranked as the most expensive city in the world to celebrate New Year in a report by international currency exchange firm Travelex.
It said the average cost per person for people to celebrate the arrival of 2017 in Dubai totalled AED2,240 ($609.92).
It said the cost for Dubai had risen from AED2,015 for the previous New Year when the emirate's celebrations were interrupted by a major blaze in a skyscraper.
Fire engulfed the luxury Address Downtown Dubai hotel and residential block, which stands across a plaza from the 160-storey Burj Khalifa tower where people had gathered for fireworks to mark the New Year.
The annual survey of seven popular global cities for revellers also showed that Edinburgh, Scotland, ranked as the best value for the second year in a row at AED725.
In its annual research, the company measured the average cost across selected establishments, with results reflecting expected costs for a partygoer buying food, entertainment and refreshments.
Travelex examined a range of sources to estimate average spend in each of the cities. The total sum includes a set meal-for-one, a bottle of champagne, nightclub entry and a pint of beer. The figures exclude the cost of flights and accommodation.
It said Sydney offers an affordable option for UAE residents wanting to get abroad for the holiday and Paris is cheaper than New York by AED700 to ring in 2017.
The full listing (from cheapest to priciest):
1. Edinburgh (AED725)
2. Sydney (AED950)
3. Amsterdam (AED955)
4. Paris (AED1,170)
5. London (AED1,435)
6. New York (AED1,870)
7. Dubai (AED2,240)
Errol Fonseca, head of retail at Travelex, said: “We always see an increase in orders of foreign currency in the run up to the new year. Exchange rates can also play a big part in decision-making."For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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