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​Expats earn more, save bigger in Vietnam: HSBC

Saturday, September 30, 2017, 09:28 GMT+7
​Expats earn more, save bigger in Vietnam: HSBC
An expat family is seen in Ho Chi Minh City.

Vietnam may not be the most ideal expat destination, but those who have chosen to move to the Southeast Asian country enjoy healthy incomes that top what they would be making at home, at least according to one HSBC survey.

The nation came 30th on HSBC’s 2017 Expat Explorer ranking, which asked expats around the world to rank their countries of current residence on finance, experience, and family.

The survey found that expats earn an average of US$88,096 per year in Vietnam, with 36 percent saying their annual income has increased since moving to the Southeast Asian country.

Expats in this group also say they earn 25 percent more in Vietnam than at home.

Though the average annual expat income in Vietnam remains low compared to the global average of $99,903, those working in Vietnam are able to save more and have higher disposable incomes than at home, according to the survey.

Expats in Vietnam also enjoy other benefits, including more holidays than at home and better housekeeping and babysitting services.

One of the biggest downsides was property ownership, with less than a fifth of the expats surveyed saying they own real estate in Vietnam.

To put that in a global perspective, 62 percent of expats worldwide say they own property somewhere in the world, with nine percent owning real estate in both their home and host countries.

HSBC commissioned Britain’s YouGov polling agency to conduct the survey between March and April of this year on nearly 28,000 expats aged 18 and over living in 159 countries and territories.

Of those countries and territories, the 46 countries with a minimum of 100 expat respondents, including at least 30 expat parents, were included in the ranking.

The survey asked 27 questions on topics including personal finance, work-life balance, and overall costs of raising children.

Singapore came out on top, while Norway was a close second. 

Egypt holds the bottom spot in the ranking.

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