As per an article in Gulf News, a research published on Sunday by foreign exchange company Travelex said that it is an expensive affair to ring in the New Year in the city.
Party goers in Dubai spend an average of Dh2,015 on food, drinks and entertainment on New Year’s Eve. London is the second most expensive city, where spend could reach Dh1,635 per person, followed by New York (Dh1, 565), Paris (Dh1, 145), Berlin (Dh1, 115), Amsterdam (Dh935), Sydney (Dh835) and Edinburgh (Dh715).
This increase in cost is partly because of the strong Dirham, which is pegged against the US Dollar. Compared to December 2014 the Dirham is 15 per cent stronger against the Australian dollar, meaning those exchanging Dh5, 000 today now pocket an extra A$230. This is the main reason why other cities could look cheaper in comparison to Dubai. Partying in Sydney is considerably cheaper than last year because the rate is now 1 dirham to 3.72 Australian dollars.