The Cost Of Living In This Affordable Southeast Asian Country Is Less Than Half Of The US
Living in the United States has become so expensive that some digital nomads, retirees, and budget-conscious adventurous Americans are opting to live in cheap yet lively places that are outside their country's borders.
One of those places is Vietnam, where, according to international database Numbeo.com, the cost of living is 66.1% lower than in the U.S. This includes rent, which is 76.7% lower, groceries at 57.1% lower, and restaurant prices at 57.1% lower. In Vietnam's two most expensive cities, a couple can enjoy a decent middle-class lifestyle for under $1,300 a month, per International Living. But for those who prefer a Southeast Asian island with stunning beaches, monthly costs in Phu Quoc can range between $1,079 and $1,326 a month, according to Nomads.com.
But Vietnam isn't just a cheap country where one U.S. dollar is equivalent to 26,500 Vietnamese dong. It's a nation with great scenery, 33 national parks, fantastic food, friendly people, low crime, and great street food that can fill you for less than $1 U.S. dollar, per International Living. It's also got a booming economy, which is part of the reason why 100,000 expats from the U.S. and elsewhere now call Vietnam home, according to international insurance brokerage William Russell. But unless you're already a citizen of Vietnam, relocating here won't be quite as easy as something like moving to Florida's most livable retirement destination.
Before moving to Vietnam, you'll need a visa. Here's how to get one.
There are different types of visas that will allow an American to enter Vietnam. The easiest is a 90-day e-visa, which can be obtained online from the Viet Nam E-Visa website for $25. To renew it, you'll need to be sponsored or invited by an "authority, organization, or individual in Vietnam," per the Vietnamese Immigration Department. A work permit for up to two years is available if you have a job offer from a business in Vietnam, are in good health, and have no criminal record, per William Russell. Temporary visa permits lasting two to 10 years can also be obtained for investors, students, diplomats, journalists, business executives, and social organizations, according to international intellectual property firm Kenfox.
Bureaucracy, though, can be a headache in Vietnam, where only 20% of expats surveyed by InterNations, a website for expatriates, expressed satisfaction with how the government deals with official paperwork, although respondents did say the government is improving its immigration process. And while Vietnam does have a growing telecommunications, export and finance sector, it is a one-party communist country that will suppress the press and some religious acts, per William Russell.
But if you can adapt, Vietnam can be a haven from financial insecurity. Per InterNations, 86% of expats rated Vietnam positively for its cost of living, the highest rate for any other nation the expatriate website surveyed.