When moving overseas, expats are looking for the perfect work-life balance. They seek job security, a good wage, and unique opportunities to experience a culture that is different from their own. Living in Vietnam can provide an authentic taste of life in the East.

As an attractive tourist destination, it is becoming increasingly popular for foreigners. Expats are drawn by the pleasant weather, low living costs, intercultural experience, as well as its beautiful beaches which have become more famous. For example, Da Nang Beach has been voted as one of the top ten beaches in the world by Forbes magazine many times.

Finance and work abroad in Vietnam places first in both indices. This means, together with the improved quality of life ratings and ease of settling in, according to HSBC expat survey report in 2019, Vietnam ranks at 10 in comparison to Mainland China which ranks at 26.  

Vietnam Cost of Living 

Vietnam has a relatively low cost of living and with moderate spending, expatriates can live a very comfortable life here. In the 2019 Mercer Cost of Living Study, at 120 in the list of the world’s most expensive cities, Ho Chi Minh City moved up 4 from 124 since last year. Different residences are accessible to fit all budgets, varying from upmarket Villas to studios in major cities to small suburban houses. Expatriates note a big difference between local food and western food rates in Vietnam, and those who are willing to eat at local bars and restaurants can notice that they can eat good food at a very low price. For instance, if you look at costs in U.S. Dollars, a beer could be as little as 76 cents, a meal at an inexpensive restaurant under $3, and monthly rent in a City Center 1-bedroom apartment for around $470! 

Expat Job and Career Opportunities 

Clearly, Asia’s role in the world economy is increasing; and the ongoing economic boom in Vietnam has led to millions of new jobs being created. The job opportunities in Vietnam are very abundant when many parts of the world face unemployment, particularly for foreigners.

If you want to receive a six-figure salary, travel to Asia, according to the seventh version of the HSBC Expat Explorer study! In Vietnam, 15% of expats receive more than $250,000, compared with the global average of 7%. However, 75% of Vietnamese expats claim they are happy with the relatively higher rates of disposable income. Clearly, a better pay makes your job more appealing! 

Why Foreign Investment in Vietnam is Booming 

In Vietnam’s international economic affairs, attracting foreign direct investment (FDI) has always been a key part. Vietnam already has many comparative advantages and a strong investment environment but are working hard to make foreign investment even more appealing. Also, Vietnam has benefited from the trade war between China and the USA with a lot of companies moving here due to this. The housing market is also booming with new build luxury apartment complexes popping up throughout the major cities and many expats are looking to buy here after the changes in the law allowing expats to purchase apartments with a 50-year lease. 

The Benefits of Investing 

As an expat in a foreign country it can be difficult to find financial services or financial aid for higher education costs, savings and retirement planning. 15% of expats in Vietnam earn over $250,000 which leaves them with a surplus in savings. Of course, you might lead a more comfortable lifestyle for much less if your costs are a lot lower. This is when the thought of retiring abroad is considered. However, retirement is the long-term investment target which typically gets the most attention. and for good reason. 

When it comes to retirement planning, time is the strongest asset you have. As a wealth management and private finance firm, Winson Capital provides expats the opportunity to invest abroad via international investment platforms and solutions combined with ongoing support and advice from professional financial advisors.

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