Vietnam the most affordable country for expats: survey

For the fourth year in a row, the country topped the survey’s Personal Finance Index, which assessed expats’ satisfaction with their overall cost of living, financial situation, and disposable household income, CNBC reported, citing the survey conducted by InterNations, a leading global network for expats.

This year’s survey saw the participation of over 12,000 expats living in 174 countries and territories across the globe, InterNations said.

Among those living in Vietnam, 86% rated the cost of living favorably, more than double the global average of 40%.

Furthermore, 68% of those surveyed reported that their disposable household income was more than adequate to live comfortably and 65% were satisfied with their current finances.

Not only living in Vietnam more affordable, but foreigners there also tend to have higher incomes , with 19% of respondents reporting a gross yearly income of $150,000 or more, nearly twice the global average of 10%.

Other Southeast Asian countries trailing Vietnam in the Personal Finance Index are Indonesia (3rd), the Philippines (5th), India (6th), Thailand (8th), and China (10th).

Aside from InterNations, Vietnam’s affordability has also been recently highlighted by Travel+Leisure, a leading travel and lifestyle magazine.

The publisher reported in late May that the country is one of the cheapest destinations to retire abroad.

The general cost of living in Vietnam is approximately 59% less expensive than in the U.S., with rental prices being around 79% lower, it said.

In particular, living expenses and housing costs in HCMC, a major expat destination, are 70% and 87% cheaper, respectively, than in New York.