An ideal destination for living
According to the recent report of Expat Insider 2024 from InterNations, Vietnam is ranked as the most affordable country for expatriates among 53 global destinations. In the top 10 list, Vietnam secured 8th place, alongside other Asian countries: Indonesia (3rd), Thailand (6th), and the Philippines (9th). Vietnam has become a top destination for expats thanks to its affordable cost of living, rich cultural experiences, and growing job opportunities, particularly in the education sector. The article helps you make informed financial decisions and fully enjoy your experience in the country.
Housing
The cost of renting a home in Vietnam varies depending on the city and location. In major cities like Hanoi and Ho Chi Minh City, renting a one- to two-bedroom apartment ranges from $400 to $2,000 per month, depending on location and amenities. In smaller cities such as Da Nang, Nha Trang, or Can Tho, rent is more affordable, with similar apartments costing between $300 to $700 per month. Renting a private room in a shared house is an even cheaper option, costing around $120 to $240 per month.
While housing in Vietnam is generally affordable compared to Western countries, prices in central districts of major cities tend to be higher due to demand and accessibility. Expats looking for a balance between affordability and convenience may opt for accommodation in suburban areas where rental costs are lower.
Meals
Vietnam offers a wide range of dining options at budget-friendly prices. Local street food and small eateries serve meals from $1.50 to $5, making them an excellent choice for daily dining. If you prefer dining at mid-range or high-end restaurants, expect to spend anywhere between $10 to $40 per meal. Those who prefer cooking at home can keep their monthly grocery bills between $150 to $300, depending on diet and shopping habits.
While eating out is incredibly affordable, some expats prefer home-cooked meals for better control over nutrition and food safety. Western-style grocery stores are available in major cities, but imported ingredients and products can be relatively expensive compared to local options.
Utilities
Utilities, including electricity, water, and internet, are quite affordable in Vietnam. Monthly expenses typically range from $50 to $100, with internet services costing between $10 and $20 per month. Gym and yoga memberships are also reasonable, costing $30 to $60 per month, while entertainment expenses, such as movies, cafes, and nightlife, can range from $100 to $200 per month.
Vietnam provides an affordable and dynamic lifestyle, with plenty of recreational activities available at a fraction of the cost compared to Western countries. However, expats living in serviced apartments or using air conditioning frequently may see higher electricity bills.
Transportation
Vietnam’s transportation system is diverse and cost-effective. Many expats choose to ride motorbikes, which can be purchased for $1,000 to $2,500, with rental options available at $50 to $100 per month. Gasoline is also inexpensive, priced at $1.20 per liter. For those who prefer not to ride, ride-hailing services like Grab and taxis cost between $0.50 and $1.00 per kilometer.
Public transport, including buses and the metro in Ho Chi Minh City, is highly affordable, with average fares ranging from $1 to $3 per ride. Traffic congestion in major cities can be challenging, but public transportation continues to improve, providing more commuting options for expats.
Average Monthly Cost of Living in Vietnam
Living costs in Vietnam vary based on location and lifestyle. In major cities such as Hanoi and Ho Chi Minh City, monthly expenses typically range from $800 to $1,500, while smaller cities like Da Nang, Nha Trang, and Can Tho offer a more affordable lifestyle, with costs ranging from $600 to $1,200 per month.
Expats looking for a balance between cost savings and modern conveniences may find mid-sized cities an ideal option. While major cities provide better job opportunities and entertainment, rural cities offer a more relaxed environment with lower expenses.
Ideal savings for Expats
With an average monthly salary ranging from $1,500 to $2,500, expats in Vietnam can comfortably cover their living expenses while still saving a significant amount. In major cities where living costs range from $800 to $1,500 per month, expats can expect to save between $500 to $1,700 per month, depending on their lifestyle and spending habits. In rural cities, where monthly expenses are between $600 to $1,200, savings potential can be even higher, reaching up to $1,900 per month.
This financial flexibility allows expats to enjoy a comfortable lifestyle, including dining out frequently, traveling domestically, and engaging in recreational activities, all while setting aside money for future plans. Compared to many Western countries, where high rent and living costs often consume much money, Vietnam provides an attractive alternative for those looking to enhance their financial well-being while enjoying a vibrant and culturally rich environment.
Final Thoughts
Vietnam remains one of the most budget-friendly destinations for expats, offering an excellent quality of life at a fraction of the cost compared to Western countries. Whether you prefer the bustling energy of Ho Chi Minh City or the coastal charm of Da Nang, Vietnam provides a wide range of living experiences to suit different budgets and lifestyles.
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