This is the most reasonably priced nation for foreigners to live in in 2024, a recent survey claims
Although it might seem unfeasible, moving abroad doesn't have to be extremely expensive.One of the most important things to think about while choosing whether to relocate for employment or permanently is one's financial situation.
According to a 2024 InterNations research, Vietnam ranks #1 out of 53 countries for personal finances, making it the most cheap location in the world for expats for the fourth year running.To be clear, out of 53 categories, it scored 40 for quality of life, 29 for necessities for expats including housing, language, and digital life, and 14 for working abroad when factors like job stability, remuneration, and career possibilities were taken into account.
In the larger Expat Insider 2024 poll, over 12,000 foreign nationals from 174 countries took part, offering thoughts on the greatest and worst places to live, quality of life, working overseas, and personal finance.Survey participants were asked to rate their level of personal satisfaction in three areas for the Personal Finance Index by InterNations: overall cost of living, satisfaction with financial circumstances, and if disposable household income was sufficient to lead a comfortable existence.
The report, which was created using this data, is mostly identical from the previous year, with the exception of Brazil (9th), which has replaced Malaysia, which fell from fifth place in 2023 to eleventh this year.
The top ten places that foreigners believe are greatest for their personal finances are shown below:
1.Vietnam
2.Colombia
3.Mexico
4.Philippines
5.Panama
6.India
7.Indonesia
8.Thailand
9.Brazil
10.China
With six out of the top ten spots on the list this year, Asian nations dominated the rankings. With Vietnam, Indonesia, the Philippines, and Thailand all placing in the top 10, Southeast Asia in particular stood out.
According to InterNations Chief Marketing Officer Kathrin Chudoba, "housing is a big plus in all four countries: Thailand ranks 1st, Vietnam ranks 2nd, Philippines ranks 5th, and Indonesia ranks 8th.""The majority of foreigners concur that finding housing is simple and that the cost is reasonable."
According to a survey conducted among foreign residents of Vietnam, 86% of respondents thought favorably of the country's cost of living, which is more than twice the global average of 40%. Additionally, 65% of respondents in Vietnam said they were content with their financial status, compared to 54% worldwide.
Furthermore, the poll revealed that 68% of participants believe their discretionary household income is sufficient to live a comfortable life, which is higher than the global average of 41%.
In addition to cheap living expenses, Vietnam tends to pay its foreign workers more.According to InterNations, "nearly twice the global average report a gross yearly income of 150k USD or more (19% vs. 10% globally)."Furthermore, foreign workers in the nation report extremely high levels of overall job satisfaction. According to Chudoba, Vietnam rose from 24th place in the previous year to 3rd place in 2024 for this characteristic, which is a component of the "Work Culture & Satisfaction" subcategory.
The survey states that in Vietnam, "work-life balance trumps career advancement" in general. Remarkably, the percentage of foreign workers in the nation who work full-time is lower than half (46%) than the global average of 57%. Approximately 21% of foreign nationals are part-time workers, while 18% are retired.
A British expat in the article remarked, "Life here is stress-free for me; it's a wonderful change from my work life, which was very consuming and hectic."In addition to assessing the contentment of foreign nationals with their own financial situation, the InterNations Expat Insider survey collected information on the world's top locations for foreign nationals.Based on five indices—general happiness, quality of life, ease of settling in, working abroad, and their "expat essentials" index, which is based on administration, housing, digital life, and language—this longer list investigates how expats feel about various elements of life overseas.
This year, four Asian nations—Indonesia (ranked third overall), Thailand (ranked sixth overall), Vietnam (ranked eighth overall), and the Philippines (ranked ninth overall)—made it into the overall top 10 list out of 53 destinations worldwide.
