That wasn't the question though: the point was to describe why the ever rising cost of living (and static salary) matter, which I did.
Can you save money on an F/O salary? Certainly. How much you save depends on your lifestyle of course but, as you say, Dubai is not cheap and it is getting more expensive. Remember, the way salaries are going, you will be better off the first year you are there than you ever will be again.
The first line of Dz flyer's comment, "...you are not just sitting at home...." is very relevant. No, you aren't at home- you are many thousands of miles away from your family and friends and you need to be adequately compensated for that. Most of the time it doesn't matter much (did I mention Skype is blocked in the UAE?) until a family member is ill or there is some other crisis. Then it really matters.