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Hanoi maintains position as Vietnam's costliest city for 5th consecutive year

Hanoi maintains position as Vietnam's costliest city for 5th consecutive year

Tuesday, April 02, 2024, 14:50 GMT+7
Hanoi maintains position as Vietnam's costliest city for 5th consecutive year
Ho Chi Minh City reported the second-highest cost of living in Vietnam in 2023, following Hanoi. Photo: Quang Dinh / Tuoi Tre

Hanoi reported the highest cost of living in Vietnam in 2023, followed by Ho Chi Minh City, Quang Ninh Province, and Hai Phong City, according to the General Statistics Office (GSO).

This is the fifth consecutive year that the capital has taken the top position in the country’s Spatial Cost of Living Index.

In 2023, the average prices of some products in Ho Chi Minh City were lower than those in Hanoi. For example, the prices of apparel, hats, and footwear in the southern metropolis were equal to 81.99 percent of those in Hanoi; cultural, education, and tourism services, 91.87 percent; catering services, 94.12 percent; and household appliances, 94.93 percent.

In the southern economic hub, certain products were found to have higher prices compared to those in Hanoi. Specifically, education services and beverages and tobacco in Ho Chi Minh City were 16.86 percent and 14.52 percent more expensive, respectively, than their counterparts in Hanoi.

Quang Ninh Province ranked third with the cost of living equivalent to 97.94 percent of that in Hanoi.

According to the GSO, Quang Ninh has modern services and industries and is a dynamic tourism location, a marine economic center, and a gateway to the northern region.

Ben Tre Province in southern Vietnam reported the lowest cost of living, followed by Nam Dinh Province in the north and Quang Tri Province in north-central Vietnam.

The Spatial Cost of Living Index reflects the gap in the prices of consumer goods and services among localities nationwide.

The General Statistics Office calculated the Spatial Cost of Living Index of localities based on the prices of 11 key consumer goods and service groups, including food and catering services; beverages and tobacco; apparel, hats, and footwear; housing, electricity, water, fuels, and building materials; household appliances; medicines and healthcare services; transport services; education services; culture, entertainment, and tourism services; post and telecom services; and other goods and services.

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Thanh Ha - Bao Ngoc / Tuoi Tre News


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