Vietnam is strengthening its position as a paradise for expats on the lookout for a reasonable lifestyle. For the fourth yr in a row, the country took the very best place within the Expat Insider 2024 Personal Finance Index rating.
Survey data showed that 86% of respondents were satisfied with their cost of living, significantly higher than the worldwide average of 40%. Additionally, 68% said they earn good enough to cover their living costs, and 65% expressed satisfaction with their current financial situation.
Notably, 19% of respondents reported an annual income of $150,000 or more, well above the worldwide average of 10%. Vietnam also offers a very good work-life balance, with job satisfaction rankings rising dramatically from twenty fourth to third in 2024.
About 38% of expatriates cited work as their essential motivation for moving to Vietnam, which is barely higher than the worldwide average of 35%. Expats working in Vietnam are generally satisfied, with the country rating 14th within the Overseas Work Index, up 15 places from 2022.
Vietnam also ranked eighth within the Work & Leisure subcategory, with 73% of expats satisfied with their work-life balance. Moreover, within the Compensation and job security subcategory, 76% of respondents felt they were paid fairly, which was significantly higher than the worldwide average of 58%.
Vietnam overtook 53 other countries within the rankings. However, it will be significant to notice that Vietnam still lags in areas similar to quality of life (fortieth) and facilities for expatriates, including digital infrastructure and housing (twentieth).
The most vital challenges include air quality, urban environmental conditions and concerns concerning the availability of environmentally friendly goods and services. Additionally, almost a 3rd of expatriates complained concerning the rigidity of the local business culture, which is far higher than the worldwide average.
Asian countries dominated the list, taking six of the highest ten places. More than 12,000 emigrants from 174 countries and regions participated on this yr’s study. The Personal Finance Index assessed satisfaction with the associated fee of living, financial situation and household profitability.
Here are the ten countries where living is the most affordable, in keeping with the Expat Insider 2024 report.
- Vietnam
- Colombia
- Indonesia
- Panama
- Philippines
- India
- Mexico
- Thailand
- Brazil
- China
