Emirates fly to Dubai, and Etihad to Abu Dhabi, at similar fare levels.
I was recently asked how their individual traveller loyalty schemes compare.
The Etihad Guest Account is a clear winner, whether you are a Pearl, Silver or Gold member.

Emirates Skwards Blue Account

Heathrow-Dubai Business Class earns 7,500 miles (discounted air fare)
And a free reward flight will cost 90,000 miles.
Let’s say that the average discount Emirates fare on the Airbus service costs £2,800
That’s approximately 3p per mile.

Therefore the miles earned on a return booking represents a value of £225

There is a Skywards mileage calculator here:

Etihad Guest Account:

Heathrow-Abu Dhabi earns approximately 10,277 miles for a Pearl member, 11,932 for Silver and 13,636 Gold member
A reward flight costs 87,851 miles
Take the average discounted fare of £2,800
That’s approximately 3.2p per mile and the reward value for a return ticket equates to:

Normal Etihad Guest: £328, Silver Member £381, Gold Member £436