In 2024, Vietnam retains its title as the most affordable place to live for expatriates for the fourth consecutive year, according to InterNations.
InterNations, a global community of over 5.3 million expatriates across 420 cities, recently released its Expat Insider 2024 Ranking, which ranks the best destinations for expats to work.
The ranking surveyed over 12,500 expatriates working in 53 countries and territories, focusing on five categories: quality of life, ease of settling in, working abroad, personal finance, and essential needs.
Vietnam remained the top-ranked country in the personal finance category for the fourth year in a row. An impressive 86% of expatriates rated the cost of living in Vietnam positively, more than double the global average. Additionally, 65% expressed satisfaction with their financial situation, partly due to high incomes. About 19% reported earning an annual income of US$150,000 or more, well above the global average of 10%.
However, only 3% cited low costs as the main reason for moving to Vietnam. Overall, Vietnam ranked 8th globally as the best place for expatriates to work and 13th place in terms of ease of settling in. Diverse entertainment options and relative safety were also rated above the global average. "The people are very friendly, and the cost of living is very low," said an American expatriate to InterNations.
Expatriates also praised the work-life balance in Vietnam, with 73% rating it positive, higher than the global average of 60%. Job satisfaction was high at 73%, although only 43% believed that moving to Vietnam improved their career prospects, lower than the global average.
In terms of quality of life, Vietnam made progress but still placed 40th, which was rather low. The environment and climate were among the worst-rated (50th). Public transportation and personal vehicle traffic also scored poorly, at 37th and 47th, respectively. "There is a lot of pollution, and the environment needs to be cleaned up," said a Canadian expatriate in the report.
