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Vietnam has once again secured the top position in the Personal Finance Index for 2024, being hailed as the most affordable destination for expatriates, as per the latest InterNations’ Expat Insider report. This marks the third consecutive year Vietnam has claimed this spot, following its lead since the 2022 edition.
The report's data comes from a survey conducted by InterNations, which gathered responses from 12,500 expatriates worldwide. The survey revealed that approximately 80% of expats in Vietnam rated the cost of living positively, with half of them describing it as “very good.” Additionally, about 65% of expats expressed satisfaction with their financial situation, significantly higher than the global average of 54%.
However, the report also highlighted mixed results for Vietnam in other categories. Despite its dominance in personal finance, Vietnam ranked 40th out of 53 countries in terms of quality of life. It achieved 14th place in the Working Abroad Index, which assesses factors such as job satisfaction and career prospects. In terms of expat essentials, which include housing, language, and bureaucracy, Vietnam was placed 29th. The country fared better in ease of settling in, coming in 13th, indicating a relatively smooth transition for newcomers.
The Expat Insider 2024 report also listed other countries that excelled in personal finance. Indonesia secured the third position, the Philippines ranked fifth, India took sixth place, Thailand was eighth, and China completed the top ten. These rankings reflect the broader trend of Southeast Asian countries offering attractive financial conditions for expatriates, largely due to lower living costs and favorable economic environments.
In summary, while Vietnam continues to shine as the top destination for expatriates seeking affordable living, the country's performance in other areas such as quality of life and expat essentials shows room for improvement. Nonetheless, its strong standings in personal finance and ease of settling in make it a compelling choice for many expatriates.
Source: https://nextshark.com
