Vietnam named most affordable country for expats in 2024

This is the fourth consecutive year Vietnam has earned the recognition, according to the Expat Insider 2024 survey conducted by InterNations.

More than 12,000 expats across 174 territories worldwide participated in the broader Expat Insider 2024 survey, which provided insights into the best and worst places to live, quality of life, working abroad, and personal finance.

Vietnam once again defended its top spot in the Personal Finance Index category for 2024. According to the survey, four in five expats (86 per cent) rate the cost of living favourably, and half rate it as very good (compared to global averages of 40 per cent and 12 per cent, respectively). In fact, over two-thirds (68 per cent) agree that their disposable household income is more than enough to live a comfortable life (vs. 41 per cent globally).

Interestingly, financial reasons don't stand out as motivating factors for a move to Vietnam; just 3 per cent said as much, compared to 2 per cent of expats worldwide. All in all, 65 per cent are satisfied with their financial situation in the country (vs. 54 per cent globally) - and this isn’t due to low costs alone. Close to double the global average reported a gross yearly income of $150,000 or more (19 per cent in Vietnam vs. 10 per cent globally).

Vietnam has improved its rankings across all indices of the survey, placing eighth overall in the Expat Insider 2024 survey. In particular, expats showed praise in the Ease of Settling In category (13^th).

“The people are very friendly, and the cost of living is very low,” an American expat told InterNations.

Expats are particularly satisfied with their work–life balance. Almost three in four gave this a positive rating (vs. 60 per cent globally), and the same was said for high overall job satisfaction. However, only 43 per cent of expats said that moving to Vietnam had improved their career prospects.

Quality of Life is Vietnam’s sore point in the ranking. Despite an improvement by seven positions compared to last year, the country still landed in an unimpressive 40^th place on the index. The worst-performing subcategory is Environment & Climate (50^th). Meanwhile, the country ranked 37^th in the Travel & Transit category.

Expats named Panama as the best place to live in 2024. Six countries in the top 10 can be found in Asia: Vietnam (first), Indonesia (third), the Philippines (fifth), India (sixth), Thailand (eighth), and China (10^th). They all performed very well across the three categories covered by the index.

HSBC survey: Global expats show resilience and optimism for future The 14th Expat Explorer study, a global survey of over 20,000 people who live and work abroad, indicates that almost two-thirds of expats feel optimistic about the year ahead despite the volatility of the past 18 months.

The future for expat life Countries around the world, just like Vietnam, are having to reshape policies when it comes to attracting non-nationals to live and work within their borders, whether on a long-term basis or just a short stint. VIR’s Ray McRobbie ponders what is next for the overseas contingent in Vietnam over the next few years.

Vietnam’s status as one of world's most livable countries brings real estate opportunities Vietnam climbed three ranks in the list of the most livable countries for expats in 2022. The influx of expats coming to Vietnam, especially Hanoi, has brought along dynamic changes in various fields to meet their needs. Without a doubt, real estate investors have a huge opportunity.