Photo: Andrew Cummings, Head of Residential Agency at Savills Middle East
Dubai, UAE has retained its lead position, for the second consecutive year, in the latest Savills Executive Nomad Index, launched today, as part of the firm’s Impactsprogramme. Meanwhile, UAE capital Abu Dhabi is hot on its heels, moving from fourth place to second this year, with the UAE taking the top two spots on the index.
The Savills Executive Nomad Index ranks 25 destinations for long-term remote workers. All either have a digital nomad visa programme, or equivalent, or in the case of the US and European countries, are already part of a large economic bloc that allows free movement of people for living or work. They offer favourable climates year-round, a high quality of life and have established prime residential markets.
Both Dubai and Abu Dhabi rank highly in several categories; however, Dubai has a large advantage in the air connectivity which places it ahead of Abu Dhabi overall. Dubai International, its main airport, is the world’s busiest for international passenger traffic. The recently announced Al Makhtoum airport expansion in Dubai will make it the largest airport in the world upon completion.
“Dubai and Abu Dhabi are incredibly appealing to executive nomads, because they offer everything you need to thrive both personally and professionally, from modern infrastructure to high quality of life,” says Andrew Cummings, Head of Residential Agency – Middle East at Savills.
While these cities are well known for their tourist attractions and luxury hotels, there is much more to Dubai and Abu Dhabi: “We’ve seen a real focus on creating a lively business environment where there are plenty of opportunities to grow, build networks and make lifelong connections,” adds Andrew.
Cities with beachside access continue to outperform in the top 10 led by Málaga (3rd), Miami (4th), Lisbon (5th), Barcelona (6th) and Palma (7th).
Savills Executive Nomad Index 2024
Source: Savills Research (note, prime rents receive a half weighting)
“The more common digital nomad is symbolised by the young backpacker; however, executive nomads tend to be older and more likely travel with family in tow,” explains Kelcie Sellers, Associate Director, Savills World Research. “This places a greater emphasis on the quality of life aspects that these top international locations can provide, such as safety and access to healthcare or education facilities. For these individuals, both physical networking and digital connectivity are important and must be accounted for.
“Executive nomads are more likely to rent, and put an emphasis on extra space and proximity to local amenities. Prime rents have risen, on average, by 5% in the last year across the 25 locations monitored in the Savills index, with some urban markets seeing increases of more than 15%.”
New entrants to the 2024 index include Palermo (22nd) and Cape Town (17th). The Sicilian capital has a rich heritage and a long history. It is the most affordable major prime rental market in Italy, with prime rents up to 70% lower than Florence, for example.
South Africa introduced its Digital Nomad Visa programme in May 2024 and Cape Town stands to benefit as a key destination for these travellers and business people in the global south.
Also new to the 2024 Index are, the Caribbean island of Grenada (11th), Bali (12th) and Costa Rican capital San José, the first Central American destination to be included in the Savills Index taking 13th place.
About Savills Middle East:
Savills plc is a global real estate services provider listed on the London Stock Exchange. With a presence in the Middle East for over 40 years, Savills offers an extensive range of specialist advisory, management and transactional services across the United Arab Emirates, Oman, Bahrain, Egypt, and Saudi Arabia. Expertise includes property management, residential and commercial agency services, property and business assets valuation, and investment and development advisory. Originally founded in the UK in 1855, Savills has an international network of over 700 offices and associates employing over 40,000 people across the Americas, UK, Europe, Asia Pacific, Africa, and the Middle East.
