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Cost of Living in Vietnam for Single Person & Family
Vietnam has gorgeous landscapes and dynamic metropolitan hubs, but its quality of life is ordinary. People worldwide are descending to that location for many reasons, searching for employment, educational opportunities, or even a place to unwind.
Due to its reputation for a high cost of living, knowing what you can anticipate spending in this nation is essential. This article will discuss the various factors that influence the cost of living in Vietnam.
Continue reading to know more details!
Table of Contents
Average Cost of Living in Vietnam for International Students
One of the most popular choices among foreign students for study abroad programs is Vietnam. Expenses that foreign students might expect to incur while studying in Vietnam are broken down as follows:
Average Cost of Living in Vietnam for Bachelors, Couples & Families
Understanding the average cost of living in Vietnam is crucial to making informed financial decisions, regardless of your status as a single, a couple, or a parent. The table that follows will help you create sensible financial plans:
Cost of Living in Major Cities in Vietnam
The following is a list of the major Vietnamese cities average costs of living:
Cost of Living in Hanoi
The average cost of living in Hanoi is as follows:
Cost of Living in Ho Chi Minh City
The average cost of living in Ho Chi Minh City is as follows:
Cost of Living in Da Nang
The average cost of living in Da Nang is as follows:
Cost of Living in Nha Trang
The average cost of living in Nha Trang is as follows:
Cost of Living in Can Tho
The average cost of living in Can Tho is as follows:
Factors Impacting the Cost of Living in Vietnam
The following are some key factors that affect how much it costs to live in Vietnam:
1. Location
Location is a key factor influencing living expenses. Living expenses in major cities such as Vietnam, Hanoi, and Ho Chi Minh City are higher due to increased demand for accommodation, dining, and entertainment. Although living in rural and small towns is less expensive, fewer conveniences and services are available.
2. Lifestyle
Additionally, going to cafés, dining out, and engaging in other leisure activities have a big impact on living expenses. Local restaurants and street food are far more affordable, although dining at fancy restaurants or engaging in pricey activities may add to the cost.
3. Housing
The cost of accommodation varies depending on the lodging and location close to the city centre. Accommodations in central locations will cost more than those in suburban or rural areas. So-called serviced apartments are expensive due to their popularity with families and expats.
4. Transportation
In Vietnam, public transportation, such as buses and motorbike taxis, is incredibly affordable. Transportation costs rise dramatically when one owns and maintains a car because of gasoline, upkeep, and parking expenses.
5. Utilities and Food
Basic utilities like internet connection, water, and power are generally reasonably priced in Vietnam. Again, the price depends on the household size and the city in which one lives. Food is inexpensive, mainly if one purchases local products; however, imported goods can be pretty costly, particularly in smaller towns.
What is the Average Income in Vietnam?
For the entire country, Vietnamese salaries range from VND 10,000,000 to VND 12,000,000 per month. This is unquestionably higher in big cities like Ho Chi Minh City and Hanoi than in country regions.
- Students: The average annual budget is between VND 90,000,000 and VND 120,000,000, covering all living expenses, such as Vietnam housing, food, and other expenses. This would offer a modest but respectable lifestyle, particularly if students took advantage of the more economical on-campus housing options and the public transit network.
- Bachelors: In addition to living expenses such as rent, food, transportation, and entertainment, a single individual residing in one of the two major Vietnamese cities, Ho Chi Minh City or Hanoi, would make between VND 150,000,000 and VND 240,000,000 annually.
- Couples: In large cities, maintaining a reasonable standard of living would cost a combined annual salary of roughly VND 250,000,000 to VND 400,000,000. This should cover the requirements of lodging, utilities, groceries, and recreational activities.
- Families: In a metropolis like Hanoi or Ho Chi Minh, a family of four needs an annual income of roughly VND 400,000,000–VND 600,000,000 to pay for accommodation, schooling, food, and living expenses.
An overview of Vietnam's average salary is given in the following table:
How Expensive is Vietnam Compared to Other Countries?
Vietnam is regarded as one of the most reasonably priced nations globally if not all of Southeast Asia. Vietnam has a lower overall cost of living than roughly 70% of other nations. Although this might be the case, the cost of living in Vietnam is often lower than in industrialised nations.
Though still far less expensive than in nations like the USA, Australia, or Europe, the cost of living in urban areas is rising, which attracts both locals and budget tourists.
The following table compares the average cost of living in Australia with other major countries of the world:
Tips for Reducing the Cost of Living in Vietnam
Looking at cutting costs is worthwhile because moving to or residing in Vietnam can be expensive. Here are some pointers on lowering the cost of living:
- You can use basic spreadsheets or budgeting software to monitor your money's flow. This will help you identify areas where you need to cut costs.
- Inexpensive lodging options include renting a house with friends or staying in the less visited parts of the city. Rent will undoubtedly decrease as a result, particularly if you live outside of one of the larger cities like Hanoi or Ho Chi Minh City.
- The cost of public transportation in Vietnam is meagre. Cab services and applications like Grab are inexpensive. You might also decide not to purchase a car or motorcycle to save money on petrol and maintenance.
- To save money on groceries, shop at local markets rather than supermarkets. Produce from street sellers and traditional marketplaces is much fresher and costs far less.
- Most local culture is accessible for free or at a minimal cost. Exploring a nearby park or visiting a temple are excellent ways to experience the culture without breaking the bank. In addition, eating at street food vendors is far less expensive than dining in restaurants. By doing this, you can also genuinely enjoy authentic Vietnamese food.
- Check for discounts if you are a senior or a student. Many stores, transit, and cultural sites offer discounted prices.
- Think about working part-time or freelance. The number of foreign workers in Vietnam is growing, and you may supplement your income by teaching English and working as a digital nomad.
Understanding the typical cost of living in Vietnam is essential for managing your finances sensibly and living comfortably. If you employ solid money management and ahead planning, Vietnam may be an incredibly fulfilling place to live, study, or work because of its lower cost of living.
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