Vietnam is essentially the most reasonably priced place to live in for expats, in response to a report by InterNations.
Oscar Wong | Moment | Getty Images
Moving to a foreign country may seem to be a pipe dream, nevertheless it doesn’t need to break the bank.
When deciding whether to maneuver overseas for all times or work, certainly one of the most important aspects to think about is personal funds.
For the fourth consecutive 12 months, Vietnam is essentially the most reasonably priced country on the earth for expats, rating first out of 53 destinations in terms of personal funds, in response to a 2024 InterNations study.
To be clear, out of 53 places, it got here in 40 for quality of life, 29 for expat essentials resembling digital life, housing and language, and ranked 14 for working abroad — with considerations like profession prospects, salary and job security factored in.
Greater than 12,000 expats across 174 territories worldwide participated within the broader Expat Insider 2024 survey which provided insights including the most effective and worst places to live, quality of life, working abroad and private finance.
For the Personal Finance Index, InterNations asked survey respondents to rank their personal satisfaction levels in three areas: general cost of living, satisfaction with financial situation, and whether disposable household income was enough to guide a cushty life.
This data was used to compile the report which stays largely unchanged from last 12 months, apart from a latest entrant to the list — Brazil (ninth) — replacing Malaysia, which dropped from fifth in 2023 to eleventh this 12 months.
Listed below are the highest 10 destinations expats say are best for his or her personal funds:
- Vietnam
- Colombia
- Indonesia
- Panama
- Philippines
- India
- Mexico
- Thailand
- Brazil
- China
Asian countries dominated this 12 months’s list, nabbing six out of the highest 10 positions. Southeast Asia, specifically, stood out with Vietnam, Indonesia, Philippines and Thailand all rating in the highest 10.
“Housing is a giant plus in all 4 countries: Thailand ranks 1st, Vietnam 2nd, Philippines fifth, and Indonesia eighth,” Kathrin Chudoba, chief marketing officer for InterNations, told CNBC Make It. “Most expats agree that it is simple to search out housing, they usually are completely happy with how reasonably priced it’s.”
Out of surveyed expats living in Vietnam, 86% rate its cost of living favorably — that is greater than twice the worldwide average of 40%, and 65% of respondents within the country say they’re satisfied with their financial situation in comparison with 54% globally, in response to the report.
As well as, 68% of respondents say their disposable household income is more than enough to guide a cushty life, in comparison with 41% globally, the survey showed.
Life here is stress-free for me, it’s an exquisite change from my work life, which was very consuming and hectic.
British expat living in Vietnam
Not only are costs of living low, expats are inclined to be paid more in Vietnam.
“Near double the worldwide average report a gross yearly income of 150k USD or more (19% vs. 10% globally),” in response to InterNations.
As well as, general job satisfaction can also be very high amongst expats within the country. Vietnam jumped from 24th rank last 12 months to threerd in 2024 for this factor, which is a component of the “Work Culture & Satisfaction” subcategory, said Chudoba.
Generally, “work-life balance trumps profession advancement” in Vietnam, in response to the report. Notably, lower than half (46%) of the country’s expat population works full time, in comparison with the worldwide average of 57%. About one in five expats (21%) works part-time, and about 18% of expats are retired.
“Life here is stress-free for me, it’s an exquisite change from my work life, which was very consuming and hectic,” said a British expat within the report.
Together with measuring expats’ satisfaction with their personal funds, the InterNations Expat Insider study also gathered data on what the general best destinations are for expats globally.
This broader list explores how expats feel across other elements of life abroad, based on 5 indices: general happiness, quality of life, ease of settling in, working abroad and their “expat essentials” index, which relies on administration, housing, digital life and language.
Out of 53 destinations globally, 4 Asian countries made it into the general top 10 list this 12 months: Indonesia (third overall), Thailand (sixth overall), Vietnam (eighth overall) and the Philippines (ninth overall).
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