Vietnam Crowned Most Affordable Country for Expats in 2024 Study

In a comprehensive study conducted by InterNations in 2024, Vietnam has once again secured its position as the most affordable destination for expatriates. This marks the fourth consecutive year that the Southeast Asian nation has topped the list, solidifying its reputation as a prime location for those seeking an economical lifestyle abroad.

Study Overview

Methodology

The InterNations study surveyed over 12,000 expats from 174 territories worldwide. Participants were asked to rank their satisfaction based on several key factors:

Cost of living
Satisfaction with their financial situation
Adequacy of disposable income for comfortable living

Scope of Evaluation

The study evaluated 53 destinations globally, considering various aspects of expatriate life, including:

Quality of life
Digital connectivity
Housing availability and affordability
Language accessibility
Career prospects
Salary levels
Job security

Top 10 Most Affordable Destinations for Expats

The study revealed the following ranking of wallet-friendly destinations for expatriates:

Vietnam
Colombia
Indonesia
Panama
Philippines
India
Mexico
Thailand
Brazil
China

Notably, six out of the top ten spots are occupied by Asian countries, with Southeast Asian nations particularly prominent in the list.

Vietnam’s Standout Performance

Consistent Excellence

Vietnam’s achievement is particularly impressive given that it has maintained its top position for four consecutive years. This consistency speaks to the country’s enduring appeal to expatriates seeking affordable living conditions.

Key Areas of Success

Vietnam excelled in several crucial areas that contribute to its overall affordability and attractiveness to expats:

Housing: Ranked 2nd globally for ease of finding housing and its affordability.
Work-Life Balance: Less than half (46%) of expats in Vietnam work full-time, compared to the global average of 57%.
Stress-Free Living: Many expats report a significant reduction in stress levels compared to their home countries.

Southeast Asian Dominance

Housing Benefits

Kathrin Chudoba, Chief Marketing Officer for InterNations, highlighted the exceptional housing situation in Southeast Asian countries:

Thailand ranked 1st globally for housing
Vietnam ranked 2nd
Philippines ranked 5th
Indonesia ranked 8th

Chudoba noted, “Housing is a big plus in all four countries… Most expats agree that it’s easy to find housing, and they are happy with how affordable it is.”

Work-Life Balance

The study revealed a trend towards prioritizing work-life balance over career advancement in Vietnam. This is exemplified by the lower percentage of full-time working expats compared to the global average.

A British expat in Vietnam shared their experience: “Life here is stress-free for me, it is a wonderful change from my work life, which was very consuming and hectic.”

Implications for Potential Expats

For individuals considering a move abroad in search of a more affordable and enjoyable lifestyle, Vietnam presents itself as an highly attractive option. The country offers a combination of: