Dubai is most expensive city for New Year's Eve

Dubai is the most expensive city in the world to celebrate New Year’s Eve, Arabian Business reported.

According to research by foreign exchange company Travelex, the UAE city was listed as the most expensive ahead of London, Paris and New York, with average spend per person on December 31 reaching $445 (AED1,635).

New York followed, with average spend per person reaching AED1,565. Revellers in Paris would spend on average AED1,145 in Paris, AED 1,115 in Berlin, AED 935 in Amsterdam and AED835 in Sydney.

The cheapest city in which to spend New Year’s Eve is Edinburgh, according to Travelex, with average spend per person reaching AED715, almost a third of the price of Dubai.

The strength of the dirham, pegged to the US dollar, was cited as one of the reasons other cities are cheap by comparison.

For example, partying in Sydney is considerably cheaper than last year because the rate is now AED1 to 3.72 Australian dollars.

Compared to December 2014, the dirham is 15 percent stronger against the Australian dollar, meaning those exchanging AED5,000 today now pocket an extra AUS$230.

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.