What is considered rich in Vietnam?
According to Knight Frank's report, in order to be included in the 1% richest people in Vietnam, one needs to have assets worth at least US$160,000. For Monaco, which has the world's densest population of super-rich, the entry point for the principality's branch of the 1% club is US$7.9 million.
An individual in Vietnam now needs a net wealth of $160,000 to join the so-called '1 percent club' of the richest people in the country of 98 million. There were 19,491 people with a net worth of $1-30 million last year, down 6 percent from 2019. This number is projected to reach 25,812 in 2025.
Fast Facts About Living in Vietnam
Average Local Salary: The average monthly salary of a worker in Vietnam is about $148 per month; those in high paying jobs bring home around $500 per month.
Vietnam has its sights set on becoming a developing, upper-middle-income country with modern industry by 2030, when it celebrates the 100th anniversary of the founding of the Communist Party of Vietnam. Upper-middle-income economies have GNI per capita of $4,046 to $12,535.
Travelers to Vietnam turn into instant millionaires overnight, as 100 US dollars gets you 2,340,000 Vietnamese Dong (VND). While you won't exactly be rich by Vietnamese standards, you'll be set for a comfortable week's worth of travel.
In 2020, Vietnam had approximately 19.49 thousand millionaires.
Our rough estimate was a budget of around US$ 3,000 (total for 2 people) for 30 days. That worked out at US$ 50 per day per person, which is a comfortable amount for Vietnam and would allow us room for the occasional splurge. We break down our travel expenses into the following categories: Flights.
According to the Spatial Cost of Living Index (SCOLI) compiled by the General Statistics Office, Hanoi has maintained its standing as the most expensive city to live in Vietnam. Compared to 2020, the rankings of the most expensive places in 2021 have not changed much, with Hanoi still in the first position.
The average home in Vietnam costs approximately $4,500. Monthly rent varies, but the average cost is about $650, and this price often includes utilities.
In the fourth quarter of 2020, paid workers and employees in rural Vietnam earned on average around 6.2 million Vietnamese dong per month. Meanwhile, the average monthly salary for paid workers and employees in urban Vietnam was slightly higher, at approximately 7.3 million Vietnamese dong.
What is the average household income in Vietnam?
Vietnam Annual Household Income per Capita reached 2,178.776 USD in Dec 2021, compared with the previous value of 2,197.480 USD in Dec 2020. Vietnam Annual Household Income per Capita data is updated yearly, available from Dec 1994 to Dec 2021, with an averaged value of 813.323 USD.
