According to the world’s largest database of living expenses contributed by users worldwide, Numbeo, the monthly living cost for a person in Vietnam is about 10.5 million VND, which is lower than many countries in the world.
The cost of living index of countries and cities around the world is calculated based on a relative comparison with the cost of living in New York City (USA). So Numbeo takes a New York City cost of living index of 100 (100%) and calculates a cost of living index for countries and cities.
Therefore, countries and territories with a score higher than 100 mean a more expensive standard of living than New York, whereas a score lower than 100 means a lower standard of living than New York.
According to the latest data of Numbeo, the top 10 countries with the highest cost of living index in the world are Bermuda (146.04 points), Switzerland (123.35 points), Norway (100.90 points), Iceland (94.86 points), Barbados (92.37 points), Jersey (92.02 points), Israel (88.05 points), Denmark (84.12 points), the Bahamas (84 points) and Singapore (83.98 points).
Among the countries in Southeast Asia, only Singapore is in the top 10 most expensive countries in the world to live in.
Cost of living index of Vietnam and some countries in Southeast Asia in 2022 (%). Source: Numbeo.
Vietnam’s cost of living index in 2022 is 37.48 points, holding the position of 89/139 countries on Numbeo’s cost of living index ranking. Compared to 2021, Vietnam ranks 95/138 countries in the world, so Vietnam’s rank has increased 6 places after 1 year.
Meanwhile, when comparing the cost of living in Vietnam with some countries in Southeast Asia, the leading country with the highest cost of living is Singapore with 83.98 points, followed by Cambodia with 49.11 points, Thailand 43.21 points and Vietnam 37.48 points.
In which, some of the countries with the cost of living index after Vietnam are the Philippines, Malaysia, Indonesia and Myanmar.
In terms of world rankings, Singapore, Cambodia, Thailand, Vietnam, Philippines, Malaysia, Indonesia and Myanmar are ranked at 10, 58, 75, 89, 92, 93, 97, 98/139 respectively.
In Vietnam, the monthly cost of living for a family of 4 excluding rent is about 37 million VND. Along with that, the monthly living cost for 1 person is about 10.5 million VND.
Besides, according to Numbeo data, TP. HCM has a cost of living index of 39.01 points. Specifically, the monthly cost of living for a family of 4 excluding rent is about 40 million VND, the monthly cost of 1 person excluding rent is more than 11 million VND.
Compared to some other cities in Vietnam such as Hanoi, Ho Chi Minh City. Ho Chi Minh City has a higher cost of living. The cost of living index of Hanoi is 36.85 points. Hanoi has a monthly living cost for a family of 4 excluding rent is more than 36 million VND, the monthly cost of 1 person excluding rent is more than 10 million VND.