The largest city in the United Arab Emirates, Dubai, has developed into a haven for wealthy Russians looking for a secure and impartial environment. Dubai has developed into a new diaspora for the wealthy and powerful of the country following the imposition of economic sanctions against Russia due to its invasion of Ukraine. Oligarchs, restaurateurs, and businesspeople have made Dubai into a hub thanks to its opulent malls, waterfront walkways, and suburban cul-de-sacs.
How Dubai Became a Haven for Elite Russians
While the Russian diaspora in Dubai spans various economic backgrounds, they share similar reasons for relocating there. The city has maintained direct flights to Russia and takes a neutral stance on the conflict in Ukraine; notably, it is seen as being friendly and welcoming to Russians. Unlike in Western Europe, there are no displays of anti-Russian sentiments and no rallies of solidarity for Ukraine.
According to New York Times, a successful ad agency owner, Dima Tutkov, proclaimed that Dubai provides a haven away from anti-Russian attitudes that he feels exist in Europe. The city’s infrastructure is much more modern and stable than in other places he has lived, like Los Angeles. “Dubai is much more free — in every way.”
As the influx settles into an oil-rich monarchy, bankers, real estate agents, car dealerships, and marinas report extraordinarily high demand for homes, sports cars, and mooring space because the UAE has not heeded western governments in using sanctions as retaliation for the invasion of Ukraine.
Real estate agents in Dubai are reporting one of the biggest bull markets ever, according to The Guardian, as Russian investors buy apartments sight unseen, either outright or by paying a year’s worth of rent in advance.
Furthermore, based on The Washington Post, more than three times as many of its citizens visited the Emirates between July and September last year as there were during the same period in 2019, before the pandemic.
Anyone harboring anti-Russian sentiments in Dubai is unlikely to express them publicly. The Emirates’ authoritarian monarchy strictly limits freedom of assembly, and protests are effectively illegal.
To sum up, Dubai has become a new home for affluent Russians looking to escape the economic sanctions imposed on their country as a result of the conflict in Ukraine. The country’s wealthy entrepreneurs and professionals are drawn to the city because of its cutting-edge infrastructure, neutral stance on the war, and welcoming attitude toward Russians.
Real Research, an online survey app, launched a survey on Dubai being the hotspot for Russian relocation to take a closer look at the reasons behind elite Russians flocking to Dubai. Hurry and answer the survey on the influx of rich Russians leaving for Dubai on the Real Research app from March 23, 2023, and win 60 TNCs as a reward.
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