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| InterNations: Vietnam named most affordable country for expatriates (Photo: TDO) |
The ranking is based on a survey of over 12,500 expatriates working in 174 countries and territories, covering 5 indices: general happiness, quality of life, ease of settling in, working abroad and their “expatriate essentials” index.
For the Personal Finance Index, InterNations asked survey participants to rate their satisfaction in three areas: the overall cost of living, satisfaction with their financial situation, and whether their household income is sufficient for a comfortable life.
The results revealed that Vietnam ranked number one in this category. The other countries in the top 10 are Cambodia, Indonesia, Panama, the Philippines, India, Mexico, Thailand, Brazil and China.
Specifically, among expatriates living in Vietnam, 86% rated the cost of living positively (compared to the global average of 40%); 65% expressed satisfaction with their financial situation in Vietnam (compared to the global average of 54%). Notably, 68% said their disposable income is more than enough for a comfortable life, significantly higher than the global average of 41%.
In addition to the low cost of living, expatriates in Vietnam are also paid higher salaries compared to the global average for expatriates. About 19% of expatriates in Vietnam reported earning an annual income of USD150,000 or more, whereas the global average is around 10%. Overall job satisfaction among expatriates in Vietnam is also very high, with many emphasizing the importance of work-life balance over career advancement.
Furthermore, the survey ranked Vietnam as the 8th best destination globally for expatriates. Vietnam also ranked 14th for working conditions for expatriates./.