Vietnam has been named the most affordable place for expats to live in, according to a recent report by InterNations. This Southeast Asian country has consistently topped the list for the fourth year in a row, out of 53 destinations worldwide. While it may be ranked 40th for quality of life and 29th for expat essentials, Vietnam shines when it comes to personal finances, ranking first in the 2024 study.
Cost of Living and Financial Satisfaction
Expats rated their personal satisfaction levels in three key areas when it comes to personal finances: general cost of living, satisfaction with financial situation, and comfort level with disposable household income. Vietnam scored exceptionally well in all these categories, with 86% of expats rating the cost of living favorably, compared to the global average of 40%. Additionally, 65% of expats in Vietnam are satisfied with their financial situation, and 68% believe that their disposable household income is more than enough to lead a comfortable life.
Job Opportunities
Not only is the cost of living low in Vietnam, but expats also tend to earn more compared to the global average. Close to double the global average of expats report a gross yearly income of $150,000 or more, highlighting the lucrative job opportunities available in Vietnam. General job satisfaction is also very high, with Vietnam moving up from 24th place to 3rd in 2024 in terms of work culture and satisfaction.
In Vietnam, work-life balance takes precedence over career advancement. Less than half of expats in Vietnam work full-time, with many opting for part-time employment or retirement. This shift in focus from work to personal well-being has resulted in a stress-free and fulfilling life for many expats living in Vietnam.
Housing and Living Costs
Asian countries dominated the list of top 10 destinations for personal finances, with Vietnam, Indonesia, Philippines, and Thailand all making the cut. Housing affordability and availability were significant factors contributing to Vietnam’s high ranking. Expats find it easy to secure affordable housing in Vietnam, with many expressing satisfaction with the cost and quality of accommodation.
In addition to personal finances, the InterNations Expat Insider study assessed expat satisfaction across various aspects of life abroad. Vietnam ranked 8th overall out of 53 destinations globally, showcasing the well-rounded experience that expats can expect in the country. With an emphasis on general happiness, quality of life, ease of settling in, and working abroad, Vietnam emerged as a top destination for expats looking for a fulfilling and affordable place to live.
Vietnam stands out as an ideal destination for expats seeking affordability without compromising on quality of life. From low living costs and high job satisfaction to a stress-free work environment and housing availability, Vietnam offers a well-rounded expat experience that is hard to beat. Whether you are looking to relocate for work or retirement, Vietnam’s charm and affordability make it a top choice for expats from around the world.