Thailand has been one of the world’s top countries for expats for some time, attracting everyone from digital nomads to backpackers. However, recent changes to visa rules and the rising economies of other countries in Southeast Asia have dulled Thailand’s shine somewhat, at least when it comes to potential destinations for expats.
One of these rising countries is Vietnam. Home to one of the world’s fastest growing economies, Vietnam has emerged as one of Southeast Asia’s most popular destinations for expats over the last few years.
Recently, Vietnam even ranked in the top 10 countries for expats according to an HSBC survey — a first for the country.
One of the most important factors in a potential country for expats is the cost of living. Below, we’ve compared the cost of living for expats looking to move to Thailand or Vietnam using a variety of different data points.
To provide a fair comparison, we’ve compared the cost of living in Bangkok (Thailand’s largest city) to the cost of living in Ho Chi Minh City (Vietnam’s largest and most economically important city). Our comparison uses data from international indexes and local businesses to provide a more realistic, accurate snapshot of how much you can expect to spend in either city.
Apartments and Housing
Apartments in Ho Chi Minh City are cheaper than those in Bangkok on a like-for-like basis. However, factors such as public transportation access mean that a top-of-the-line apartment in HCMC may not be as convenient as a similar property in Bangkok.
For example, this Grade A apartment in Sukhumvit (a popular expat area close to the center of Bangkok) is priced at 85,000 baht, or $2,800 USD, per month. Comparable apartments in Ho Chi Minh City’s Thao Dien area — a popular expat hub — are significantly less expensive, such as Masteri Thao Dien (three bedrooms available from approximately $1,100 USD per month) and The Vista An Phu (from $1,200 per month). Larger developments outside Thao Dien are also comparatively more affordable. For example, Vinhomes Central Park apartments range in price from $750 to $800 all the way up to $2,000+ for family units.
At the lower end of the price scale, both Bangkok and Ho Chi Minh City offer a range of affordable apartments. In fact, Bangkok’s larger supply of cheap, expat-friendly apartments in the sub-$250 range may make it a better city for expats on a strict budget.
Food and Groceries
Both Thailand and Vietnam offer affordable food and groceries. These costs can be accurately compared using the Cost of Living Index, as we’ve done below:
- Thailand’s current cost of living index is 49.86, a moderate score.
- Vietnam’s current cost of living index is 38.17, indicating that most goods and services are slightly less expensive than they are in Thailand.
As Thailand is a more internationalized country than Vietnam, many goods and services that may be of interest to expats, including imported goods, may cost more in Vietnam than in Thailand due to limited availability.
Other Costs
In addition to food and housing, prices in Vietnam are also lower for most immigration expenses. For example, expats with an American passport can apply for a one-year visa at a cost of $60 plus $135 stamping fee, providing a total of up to one year in Vietnam at a cost of under $200.
For other nationalities, visa pricing can vary, although most expats can stay in Vietnam while spending less than $500 per year on visa-related expenses.
In Thailand, visas, transit and immigration fees can be significantly more expensive. For example, although Thailand tourist visas currently only cost approximately $35, visa holders are required to either apply for a new visa (required leaving the country) or purchase an extension every 60 days. This can add up to a significant amount over the course of one year or longer.
Overall
Overall, the cost of living in Vietnam is lower than Thailand, even in a major city such as Ho Chi Minh City. As an expat, you can expect to pay about 20 to 30% less than you would in Thailand, although not everything will be more affordable.
FAQs
The average cost of living in Thailand ($876) is 36% more expensive than in Vietnam ($643). Thailand ranked 90th vs 139th for Vietnam in the list of the most expensive countries in the world. The average after-tax salary is enough to cover living expenses for 0.7 months in Thailand compared to 0.7 months in Vietnam.
Is Vietnam cheaper than Thailand for tourists? ›
When it comes to affordability, both Thailand and Vietnam are relatively inexpensive compared to many other destinations. However, in general, Vietnam is considered to be a more budget-friendly option than Thailand. Accommodations, food, and transportation are all cheaper in Vietnam, especially in rural areas.
Which is better to travel Thailand or Vietnam? ›
Prefer a beach holiday: Thailand has better beaches than Vietnam and offers various choices. Plan to celebrate a honeymoon or anniversary: Thailand is more suitable for a romantic vibe and provides more opportunities for some special experiences like a dinner cruise, couples spa, etc.
How much more expensive is Thailand than Vietnam? ›
By figuring out which country is more expensive, you'll understand where you'll get more bang for your buck. A week in Vietnam can cost you about $448 (per person), while a week in Thailand may cost you around $809. These differences become even more noticable if you plan to spend a longer time in the country.
Is Vietnam richer than Thailand? ›
Thailand has a GDP per capita of $17,300 as of 2020, while in Vietnam, the GDP per capita is $8,200 as of 2020.
Is Vietnam safe for solo female travellers? ›
Is Vietnam safe for solo female travel? Yes, Vietnam is one of the safest places in Southeast Asia for solo travel. Violent crime is almost non-existent.
Is Vietnam cheaper than phu*ket? ›
A mix of beach time with perhaps Chiang Mai offers variety. Depends entirely though on your interests and how you like to spend your time. In our travels to phu*ket,we spoke to other travellers who have been to Vietnam...and they do rave about the place and also the fact that Vietnam is definitely cheaper than phu*ket...
Is Vietnam more developed than Thailand? ›
Although Thailand performs better than Vietnam on several development indicators and has higher GDP and per capita income, it now faces a slower growth rate. From the 1960s to the 1990s, Thailand's economy grew at an average annual rate of 7.5%.
Are beaches better in Thailand or Vietnam? ›
Beaches in Thailand are considered by most to be more picturesque than beaches in Vietnam. This is where you'll find your isolated island paradise, with many beaches only accessible by boat. Thailand's two most famous beach destinations, phu*ket and Krabi, are home to some of the most photographed beaches in the world.
Is Thailand hotter than Vietnam? ›
Both countries are beautiful, but weather is hotter and more humid in Thailand except Chiang Mai.
According to Numbeo, the average Thailand living cost is around 36.73% lower than the U.S. Hence, you can live in Thailand comfortably for around $1,500 a month. However, it wouldn't hurt to have an extra $500 in your budget to spend on local cuisines and experiences.
Is Thailand cheap for Americans? ›
Thailand is a very affordable country to visit. Though it isn't as cheap as its Southeast Asian neighbours, like Laos or Cambodia, Thailand is still a very affordable travel destination. Travellers can easily have an incredible time exploring Thailand on a backpacker budget.
How far does $100 go in Thailand? ›
According to Budget Your Trip, the average cost of meals per day in Thailand is 481 baht. Since $100 USD equals 3,554 baht, this means that a traveler can probably get about seven full days of meals in Thailand if they stick to a budget.
How much money do you need to be rich in Vietnam? ›
To make it into the group of the top 1 per cent in terms of wealth in Vietnam, according to Knight Frank, Vietnamese people need to own $160,000. This figure is $2.9 million in Singapore; $540,000 in Malaysia; and $60,000 in Indonesia and the Philippines.
Which part of Vietnam is the richest? ›
Ho Chi Minh City (HCMC), also known as Saigon, is generally considered the wealthiest city in Vietnam.
When was Vietnam the poorest country in the world? ›
After years of institutional and economic reform, Vietnam's poverty rate declined rapidly. In 1990, Vietnam was among the world's poorest countries with a GDP per capita of $98. By 2010, GDP reached $1,000. Vietnam is now defined as a lower middle income country by the World Bank.
Is Vietnam cheaper for tourists? ›
Of course, being in Southeast Asia, Vietnam is an affordable country to visit, in comparison to countries in North America and Europe, so your Dong will take you far. Yep, that's the name of the currency here: the Vietnamese Dong, and you'll find yourself with plenty of opportunity to make jokes about it.
Is Vietnam the cheapest country to visit? ›
Vietnam is one of the cheapest countries in the world to travel. Even amongst the other countries in South East Asia, which are generally cheap places to travel, it's still one of the cheapest. Check out four of the cheapest Asian countries to travel long term. There are two main reasons for Vietnam being so cheap.
How much money do you need as a tourist in Vietnam? ›
For a more comfortable backpacker experience in Vietnam, it's best to budget around $50 per day. This way, you'll have more money to spend on things like food, drinks, activities and hotel rooms. For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs.
How expensive is Vietnam for tourists? ›
Overall, a 10-day Vietnam trip from India can cost approximately INR 40,000-60,000 per person for budget travel, INR 60,000-80,000 per person for mid-range travel, and INR 1,00,000 and above per person for luxury travel. However, these costs can vary depending on your travel style and preferences.
